Q3 25 EPS
$4.24
MISS 1.13%
Est. $4.29
Q3 25 Revenue
$1.59B
BEAT +1.52%
Est. $1.57B
vs S&P Since Q3 25
-19.3%
TRAILING MARKET
FSLR -13.7% vs S&P +5.7%
Market Reaction
Did FSLR Beat Earnings? Q3 2025 Results
First Solar posted a mixed but broadly strong third quarter, with revenue of $1.59 billion clearing the consensus estimate by 1.52% and surging 79.7% year-over-year, while diluted EPS of $4.24 came in just shy of the $4.29 consensus by 1.13%. The sta… Read more First Solar posted a mixed but broadly strong third quarter, with revenue of $1.59 billion clearing the consensus estimate by 1.52% and surging 79.7% year-over-year, while diluted EPS of $4.24 came in just shy of the $4.29 consensus by 1.13%. The standout driver was record module sales volume of 5.3 GW, which powered gross profit to $610.75 million and underscored the scale leverage the company is generating as its fifth U.S. Manufacturing facility came online during the period. Net cash more than doubled sequentially to $1.50 billion, reflecting robust advance payments and favorable working capital shifts. The company's contracted backlog of 53.7 GW valued at $16.40 billion signals durable demand, though full-year EPS guidance was tightened to $14.00–$15.00 and net sales narrowed to $4.95–$5.20 billion, a range that reflects both supply chain headwinds and some contract terminations. For broader renewable energy sector context, comparable dynamics shaped results across utilities this quarter as well.
Key Takeaways
- • Record volume sold of 5.3 GW in Q3 2025
- • Increased module sales to third parties driving higher net sales
- • Higher cash receipts from module sales including advance payments
- • Favorable changes in working capital
- • Section 45X tax credits estimated at $1.56B–$1.59B for 2025
FSLR YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“As a result of our disciplined approach to balancing growth, liquidity, and profitability, we've further strengthened our position through the commissioning of our fifth U.S. manufacturing facility, enhancing our liquidity position, and delivering record sales.”
— Mark Widmar, Q3 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% |