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TEMPE - First Solar, Inc. (NASDAQ:FSLR) shares jumped 5.3% after the American solar technology manufacturer reported second-quarter earnings that significantly exceeded analyst expectations, driven by increased module sales.
The company reported second-quarter adjusted earnings of $3.18 per share, surpassing the analyst consensus of $2.66 by 19.5%. Revenue reached $1.1 billion, up 8.7% from the $1.04 billion analysts had projected and representing a 30% increase from the first quarter. The revenue growth was primarily attributed to higher volumes of solar modules sold to third parties.
"In our view, the recent policy and trade developments have, on balance, strengthened First Solar’s relative position in the solar manufacturing industry," said Mark Widmar, Chief Executive Officer. "We believe that on a fundamental basis, with its cost-competitive energy and faster time to power profile, the case for utility-scale solar generation is compelling regardless of the policy environment."
First Solar maintained the midpoint of its full-year earnings guidance, now expecting 2025 EPS between $13.50 and $16.50, compared to its previous range of $12.50 to $17.50. The company raised its revenue forecast to $4.9-$5.7 billion from the earlier projection of $4.5-$5.5 billion.
The company’s net cash balance increased to $0.6 billion at the end of the second quarter, up from $0.4 billion in the previous quarter, boosted by proceeds from the sale of Section 45X tax credits. First Solar also announced it had booked 2.1 GW in July 2025, with an expected sales backlog of 64.0 GW extending through 2030.
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