Short answer
First Solar (FSLR) filed its Q1 2026 10-Q quarterly report on Apr 30, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $1.0B (up 23.6% year over year) with net income of $347M.
Q1 2026 key financials · XBRL
- Revenue
- $1.0B
- +23.6% YoY
- Net income
- $347M
- +65.4% YoY
- Operating margin
- 33.1%
- Gross margin
- 46.6%
- EPS (diluted)
- $3.22
- +65.1% YoY
Source: XBRL data from the First Solar (FSLR) Q1 2026 10-Q on SEC EDGAR. USD.
First Solar Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1.0B, up 23.6% YoY from $0.8B, driven by 30.9% higher third-party module volumes
- Gross margin 46.6% vs 40.8% YoY, up 5.8 percentage points
- Module production 4.3 GW and sales 3.8 GW; India volume growth pressured average sales price per watt
- Cash proceeds $95.2M from 2025 Section 45X credit sales plus $117.6M Treasury payment
- Headwinds from global oversupply, pricing pressure, tariffs, and reduced international Series 6 production
Risk Factors
- New global tariff exposure: February 20, 2026 Supreme Court ruling ended IEEPA tariffs, followed by Section 122 tariffs up to 15%
- Most material policy update: “One Big Beautiful Bill” accelerated termination of certain energy tax credits, including Section 45X, ITC, and PTC
- Regulatory risk: preliminary India AD/CVD rates reached 125.87% for India, 143.30% for Indonesia, and 80.67% for Laos
- Near-term operational risk: tariffs could reduce international factory utilization and trigger equipment or facility impairments
- Legal risk: February 24, 2026 USITC petition alleged TOPCon patent infringement by affiliates of 10 solar companies
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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