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First Solar Falls Short On Q1 Earnings, Cuts FY Guidance Due To Tariffs, Shares Tumble

Benzinga·04/29/2025 20:52:27

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First Solar Inc (NASDAQ:FSLR) reported financial results for the first quarter after the market close on Tuesday. Here’s a look at the key performance highlights from the first three months of the year.

Q1 Earnings: First Solar reported first-quarter revenue of $844.57 million, beating analyst estimates of $839.28 million. Total revenue was down $700 million from the prior quarter, primarily driven by an anticipated seasonal reduction in module sales.

The solar company reported first-quarter earnings of $1.95 per share, missing analyst estimates of $2.63 per share, according to Benzinga Pro. The steep earnings miss appears to be weighing on the stock after hours.

The company said cash, restricted cash, cash and restricted cash equivalents and marketable securities, less debt, decreased to $400 million at the end of the first quarter, down from $1.2 billion at the end of 2024.

“Despite the near-term challenges presented by the new tariff regime, we believe that the long-term outlook for solar demand, particularly in our core U.S. market, remains strong, and that First Solar remains well-positioned to serve this demand,” said Mark Widmar, CEO of First Solar

“This belief is based on the unique profile of First Solar compared to its peers, as America’s largest and most established solar module manufacturer, and the country’s only fully vertically integrated producer, our significant network of domestic supply chain vendors, and our proprietary CadTel-based semiconductor.”

Outlook: First Solar lowered its full-year outlook. The company now expects full-year 2025 revenue of $4.5 billion to $5.5 billion (previously $5.3 billion to $5.8 billion) versus estimates of $5.46 billion. The company now expects full-year earnings to come in at approximately $12.50 to $17.50 per share (previously $17 to $20 per share) versus estimates of $18.20 per share.

Soft guidance also appears to be partially responsible for the weakness in shares in extended trading. Management said it will provide more information on its conference call with investors and analysts, which got started at 4:30 p.m. ET.

FSLR Price Action: First Solar shares were down about 21% heading into Tuesday’s print. The solar stock was down 10.51% after-hours, trading at $122.81 at the time of publication on Tuesday, according to Benzinga Pro.

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Photo: Around the World Photos/Shutterstock.