Q2 25 EPS
$3.18
BEAT +21.26%
Est. $2.62
Q2 25 Revenue
$1.10B
BEAT +5.98%
Est. $1.04B
vs S&P Since Q2 25
+0.0%
BEATING MARKET
FSLR +15.9% vs S&P +15.9%
Market Reaction
Did FSLR Beat Earnings? Q2 2025 Results
First Solar posted a standout second quarter, with earnings per share of $3.18 beating the Wall Street consensus of $2.62 by 21.26% and revenue of $1.10 billion coming in 5.98% ahead of expectations, up 8.6% year over year. The primary engine behind … Read more First Solar posted a standout second quarter, with earnings per share of $3.18 beating the Wall Street consensus of $2.62 by 21.26% and revenue of $1.10 billion coming in 5.98% ahead of expectations, up 8.6% year over year. The primary engine behind the beat was a sharp improvement in gross profit, which climbed to $499.85 million from $344.40 million in Q1, driven by higher module volumes and the monetization of Section 45X advanced manufacturing tax credits; the company sold $312.00 million of those credits for $296.00 million in cash proceeds, directly lifting its net cash balance to approximately $600.00 million. CEO Mark Widmar pointed to tariffs on foreign-made panels as a structural tailwind that reinforces First Solar's domestic manufacturing advantage, a view consistent with the company raising its full-year net sales guidance to $4.90 billion to $5.70 billion and tightening its EPS range to $13.50 to $16.50. The company's 64.0 GW expected sales backlog extending through 2030, including 2.1 GW booked in July alone, underscores durable demand visibility heading into the second half.
Key Takeaways
- • Increased volume of modules sold to third parties driving net sales growth
- • Section 45X advanced manufacturing production tax credits monetization providing cash proceeds
- • Gross profit expansion from $344M in Q1 to $500M in Q2
- • Favorable policy and trade developments strengthening competitive position
FSLR YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“In our view, the recent policy and trade developments have, on balance, strengthened First Solar's relative position in the solar manufacturing industry.”
— Mark Widmar, Q2 2025 Earnings Press Release
FSLR Earnings Trends
FSLR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FSLR EPS Trend
Earnings per share: estimate vs actual
FSLR Revenue Trend
Quarterly revenue: estimate vs actual
FSLR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $3.22 | — | $1.04B | -0.32% |
| Q4 25 MISS FY | $5.15 | $4.84 | -6.02% | $1.68B | +6.29% |
| FY Full Year | $14.59 | $14.21 | -2.58% | $5.22B | +1.95% |
| Q3 25 MISS | $4.29 | $4.24 | -1.13% | $1.59B | +1.52% |
| Q2 25 BEAT | $2.62 | $3.18 | +21.26% | $1.10B | +5.98% |
| Q1 25 MISS | $2.47 | $1.95 | -21.01% | $844.6M | +0.01% |