FSLR First Solar (FSLR) Q2 FY26 earnings call
First Solar delivered a strong Q2 FY26 with record sales volume and expanded gross margins, driven by Section 45X tax credits and IEEPA tariff benefits. The company surpassed 100 GW of cumulative module sales and maintains a substantial contracted backlog through 2030, reflecting strong demand for its differentiated technology and domestic manufacturing. Policy uncertainty, particularly around Section 232, continues to influence near-term bookings, but the company remains disciplined and well-positioned for future growth.
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FSLR operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Contracted backlog | 50.1 GWWe ended the year with a contracted backlog of 50.1 gigawatts valued at $15 billion.Source: earnings call transcript | 47.9 GWAs of March 31, 2026, our contracted backlog was 47.9 gigawatts at an aggregate transaction price of $14.4 billion, exclusive of technology adjusters with deliveries through 2030.Source: earnings call transcript | ~45.1 GWWe ended the quarter with approximately 45.1 gigawatts of contracted backlog.Source: earnings call transcript | — |
| Contracted backlog value | $15BWe ended the year with a contracted backlog of 50.1 gigawatts valued at $15 billion.Source: earnings call transcript | $14.4BAs of March 31, 2026, our contracted backlog was 47.9 gigawatts at an aggregate transaction price of $14.4 billion, exclusive of technology adjusters with deliveries through 2030.Source: earnings call transcript | $13.6BAs of June 30, 2026, our contracted backlog totaled 45.1 gigawatts with an aggregate transaction value of $13.6 billion, exclusive of technology adjusters, with scheduled deliveries extending through 2030.Source: earnings call transcript | -5.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.