Semiconductors
Price
$224.57
-3.24%Market Cap
$24.13B
Day High
$237.57
Day Low
$219.02
First Solar delivered a strong Q1 FY2026 with revenue up 23.6% YoY to $1.04B, net income surging 65.4% to $347M, and gross margin expanding to 46.6%, reflecting improved manufacturing efficiency and higher average selling prices.
Key risk: Negative Operating Cash Flow
Despite strong profitability, First Solar generated negative operating cash flow of -$214.9M in Q1 FY2026. This disconnect between reported net income ($346.6M) and operating cash flow suggests significant working capital consumption, potentially from inventory build-up or large advance payments to suppliers tied to capacity expansion.
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