AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net sales fell 3.7% to $1.06B on customer contract terminations, but gross margin jumped 11.7 points to 57.3% on an $88.6M IEEPA tariff-refund benefit and Section 45X credits.
Biggest Revenue Drivers
Solar module sales (single operating segment)$1,056.2M-3.7% YoY
Lower revenue associated with customer contract terminations, partially offset by a 5.3% increase in the volume of modules sold to third parties
Biggest Revenue Drivers
Total revenue: $1,056.2M-3.7% YoY
Solar module sales (single operating segment)$1,056.2M-3.7% YoY
Lower revenue associated with customer contract terminations, partially offset by a 5.3% increase in the volume of modules sold to third parties
Within Solar module sales (single operating segment)
BP Solar / Lightsource contract termination revenue$61.0M
Recognized in revenue related to advance payments previously received from the defendants after termination of the master supply agreements
Largest Expense Items
Cost of sales$451.2M-24.5% YoY
Expected IEEPA tariff refunds, $70.7M Section 45X credit benefit and $35.6M lower logistics, offset by $38.8M volume and $29.3M higher duties/tariffs
Research and development$76.2M+39.9% YoY
Impairment of equipment no longer expected to be used in the technology roadmap, plus higher spare parts, materials and depreciation
Selling, general and administrative$51.9M-1.2% YoY
Consistent with the prior-year quarter
Production start-up$26.4M-15.2% YoY
Incurred primarily for the sixth U.S. manufacturing facility in South Carolina
Margins: Gross profit rose to 57.3% of net sales from 45.6%, driven by an $88.6M net benefit from expected IEEPA tariff refunds, more modules qualifying for Section 45X credits, and lower logistics costs.
Watch Items from the Filing
Gross margin gain depends on IEEPA tariff refunds; filing warns recovered amounts may differ materially from amounts paid and may be offset by customer refund obligations.
Securities class action filed June 23, 2026 alleging understated tariff-policy impact on 2026 performance, plus a July 28, 2026 shareholder derivative suit; loss not estimable.
Backlog of 45.1 GW at an aggregate transaction price of $13.6 billion expected to be recognized through 2030, plus up to $0.5B of potential technology-related price adjustments.
Series 7 manufacturing issues: $47M specific warranty liability recorded within an estimated $40M-$65M range of potential future losses.
Cash, equivalents and marketable securities fell to $1.7B from $2.9B at December 31, 2025, on supplier payments, working capital, capex and debt repayment.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
15 transactions in FSLR reported by 5 members of Congress under the STOCK Act, most recent trade Aug 13, 2026. Reported transactions, not recommendations.
About FIRST SOLAR, INC. (FSLR): stock profile, AI score and financials
FIRST SOLAR, INC. (FSLR) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores FSLR at 77.6/100 on a composite quality score built from its SEC filings, placing it at rank #63 of 2,925 stocks — the top 5% of the AI-ranked universe. FSLR scores in the top quartile across profitability (92.7), balance sheet strength (90.9), free cash flow (81.9). Based on the latest XBRL financial filings (Q2 2026), FIRST SOLAR, INC. reports quarterly revenue of $1.1B, net income of $422.6M, an operating margin of 42.6%. Top institutional holders of FSLR by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. FSLR trades on the Nasdaq exchange and files with the SEC under CIK 1274494. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FSLR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FIRST SOLAR, INC. directly from SEC EDGAR.