Drop of over 12%! Leading photovoltaic company lowers 2026 performance target

K-LinePoet · 2026-03-11T03:07:12+00:00

First Solar announced a net sales of $1.7 billion for Q4 2025, with an annual forecast of $5.2 billion, and net cash of $2.4 billion. However, sales are expected to decline to $4.9-$5.2 billion in 2026. The stock price plummeted over 12% after hours. The company plans to build a 3.7GW new factory in the United States, expected to be operational in 2026.

K-LinePoet

2026-03-11 03:07:12

Abstract generation in progress

According to foreign media reports, on February 24, the largest solar manufacturer in the United States, First Solar, announced its financial results for Q4 2025 and the full year, as well as its outlook for 2026.

The announcement shows that First Solar’s net sales for Q4 were $1.7 billion, an increase of $100 million from the previous quarter ($1.6 billion), mainly due to higher module sales in Q4. The company’s full-year net sales for 2025 are expected to be $5.2 billion, up from $4.2 billion last year.

The company also reported a diluted net income of $4.84 per share for Q4 and $14.21 per share for 2025. As of the end of 2025, First Solar’s net cash amount was $2.4 billion.

Notably, at the same time, First Solar also released its performance outlook for 2026.

Compared to 2025, the company’s net sales for 2026 are expected to be between $4.9 billion and $5.2 billion; regarding net cash balance, by the end of 2026, it is projected to decrease to between $1.7 billion and $2.3 billion.

Following this, First Solar’s stock plummeted over 12% in after-hours trading after the earnings report was released.

In terms of sales volume, the company expects module sales for 2026 to be between 17 GW and 18.2 GW. Based on the profit rhythm in the first quarter, it is expected that module sales will be between 3.4 GW and 4 GW.

Additionally, First Solar previously announced plans to build a new 3.7 GW module manufacturing plant in the United States, which is expected to begin production by the end of 2026 and gradually increase output in the first half of 2027.

Meanwhile, the company’s CEO stated that they will continue to expand domestic capacity in the U.S. The company’s factory in Louisiana has already been put into operation and has started factory certification.

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