Filing Flows › First Solar (FSLR) › Q1 2025
First Solar (FSLR) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
First Solar (FSLR) reported revenue of $845M for the first quarter 2025 (Q1 2025), +6% from a year earlier and -44% from the quarter before. Operating margin was 26.2%, net earnings $210M (24.8% of revenue).
First Solar, Q1 2025: revenue $845M (+6% year over year), operating margin 26.2%, net earnings $210M, operating cash flow −$608M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $845M | -44% | +6% |
| Gross profit | $344M | -39% | -0.5% |
| Operating profit | $221M | -52% | -9% |
| Net earnings | $210M | -47% | -11% |
| Operating cash flow | −$608M | — | — |
What changed
Revenue was $844.6M in Q1 2025, up 6% year over year and down 44% from the previous quarter.
Gross margin was 40.8%, down 2.8 points from a year earlier. Operating profit was $221.2M, a 26.2% margin (down 4.4 points year over year). Operating profit fell $21.9M even though revenue rose $50.5M versus a year earlier, so costs grew faster than sales. Operating expenses grew 20% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $209.5M, down 11% year over year. The effective tax rate was 3.5%.
Operating cash flow was −$608.0M. Non-cash charges added back $124.8M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $944.9M. Capital expenditures of $206.0M exceeded it, leaving free cash flow of −$813.9M.
Questions
What was First Solar's revenue in the first quarter 2025?
First Solar (FSLR) reported revenue of $845M for the first quarter 2025 (Q1 2025), +6% from a year earlier and -44% from the quarter before.
Was First Solar profitable in the first quarter 2025?
Operating profit was $221M (26.2% of revenue) and net earnings $210M.
Source: First Solar 10-Q on SEC EDGAR.