First Solar said net sales for the 3 months ended September 30, 2026 decreased 22.8% year over year to $1.2 billion. The company cited a 22.0% decline in the volume of modules sold to third parties and lower revenue associated with customer contract terminations as the reasons for the decrease.

10-QQuarterly reportFiled Oct 29, 2026Period of report Sep 30, 2026Summary published (UTC) Oct 29, 2026

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First Solar said net sales for the 3 months ended September 30, 2026 decreased 22.8% year over year to $1.2 billion. The company cited a 22.0% decline in the volume of modules sold to third parties and lower revenue associated with customer contract terminations as the reasons for the decrease.
The company said its gross margin for Q3 2026 rose 19.6 percentage points from 38.3% in the same period of the prior year to 57.9%. It cited a higher volume of modules sold qualifying for the advanced manufacturing production credit under Section 45X and a higher sales price per watt as factors. It said these were partially offset by higher production costs from a greater sales mix of U.S.-produced modules and lower revenue associated with customer contract terminations.
The company said cash, cash equivalents and marketable securities as of September 30, 2026 totaled $1.6 billion, down from $2.9 billion as of December 31, 2025. It cited higher payments to suppliers, purchases of property, plant and equipment for its U.S. facilities, and debt repayments as factors in the decrease.
The company said phase 1 of its sixth U.S. manufacturing facility, located in South Carolina, commenced commercial production in September 2026, and it expects phase 2 to begin operations in mid-2027. The company said it expects the total investment in the facility to be approximately $0.3 billion.

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Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

First Solar net sales down 22.8% in Q3 2026

First Solar said net sales for the 3 months ended September 30, 2026 decreased 22.8% year over year to $1.2 billion. The company cited a 22.0% decline in the volume of modules sold to third parties and lower revenue associated with customer contract terminations as the reasons for the decrease.

Source · Based on the MD&A text of the filing

First Solar gross margin 57.9% in Q3

The company said its gross margin for Q3 2026 rose 19.6 percentage points from 38.3% in the same period of the prior year to 57.9%. It cited a higher volume of modules sold qualifying for the advanced manufacturing production credit under Section 45X and a higher sales price per watt as factors. It said these were partially offset by higher production costs from a greater sales mix of U.S.-produced modules and lower revenue associated with customer contract terminations.

Source · Based on the MD&A text of the filing

Cash and marketable securities $1.6 billion

The company said cash, cash equivalents and marketable securities as of September 30, 2026 totaled $1.6 billion, down from $2.9 billion as of December 31, 2025. It cited higher payments to suppliers, purchases of property, plant and equipment for its U.S. facilities, and debt repayments as factors in the decrease.

Source · Based on the MD&A text of the filing

South Carolina sixth U.S. plant phase 6

The company said phase 1 of its sixth U.S. manufacturing facility, located in South Carolina, commenced commercial production in September 2026, and it expects phase 2 to begin operations in mid-2027. The company said it expects the total investment in the facility to be approximately $0.3 billion.

Source · Based on the MD&A text of the filing

Structured SEC financial data for this filing is not available yet. Please check the figures in the SEC filing.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

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