Description

First Solar’s Next Big Inflection: Backlog Execution, Series 7 Launches & Perovskite Commercialization!

First Solar, Inc. reported a robust start to 2026, marked by record first-quarter revenue of $1 billion, a 24% year-over-year increase driven primarily by a 31% rise in module volume. The company achieved meaningful margin expansion with a gross margin of 47%, up approximately 6 percentage points from Q1 2025, driven by higher volumes qualifying for Section 45X tax benefits and lower sales freight costs. Adjusted EBITDA reached $520 million, exceeding the high end of the company’s forecast, and net income rose 65% year-over-year to $347 million, translating to diluted earnings per share of $3.22. First Solar’s contracted backlog stood at 47.9 gigawatts with an aggregate transaction value of $14.4 billion, excluding technology adjusters, with deliveries expected through 2030. The company’s technology strategy is heavily centered on the CuRe (Copper Recycle) technology platform, designed to deliver up to 8% greater lifetime energy yield relative to conventional crystalline-silicon TOPCon modules.