Revenue Growth Driven by Higher Volume and Pricing
Revenue increased 23.6% YoY from $844.6M to $1.04B in Q1 FY2026, suggesting a combination of increased module shipments and favorable pricing dynamics in the solar manufacturing segment.
FIRST SOLAR, INC. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: 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.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue increased 23.6% YoY from $844.6M to $1.04B in Q1 FY2026, suggesting a combination of increased module shipments and favorable pricing dynamics in the solar manufacturing segment.
Gross margin expanded approximately 578 basis points YoY from 40.8% to 46.6%, indicating meaningful improvements in manufacturing cost efficiency and/or a more favorable product mix, with gross profit rising 41.2% to $486.1M.
Operating income grew 56.1% YoY to $345.3M while operating margin expanded to 33.1% from 26.2%, showing that revenue growth is outpacing the 27.8% rise in R&D ($66.9M) and 22.9% rise in SG&A ($65.3M) expenses.
Revenue
$1.04B
++23.64% YoY
EPS (Basic)
$3.23
++64.80% YoY
Gross Margin
46.6%
++5.77% YoY
Operating Income
$345.3M
++56.07% YoY
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