Filing Flows › First Solar (FSLR) › Q1 2026
First Solar (FSLR) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
First Solar (FSLR) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +24% from a year earlier and -38% from the quarter before. Operating margin was 33.1%, net earnings $347M (33.2% of revenue).
First Solar, Q1 2026: revenue $1.0B (+24% year over year), operating margin 33.1%, net earnings $347M, operating cash flow −$215M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | -38% | +24% |
| Gross profit | $486M | -27% | +41% |
| Operating profit | $345M | -37% | +56% |
| Net earnings | $347M | -33% | +65% |
| Operating cash flow | −$215M | -117% | — |
What changed
Revenue was $1.0B in Q1 2026, up 24% year over year and down 38% from the previous quarter.
Gross margin was 46.6%, up 5.8 points from Q1 2025. Operating profit was $0.35B, a 33.1% margin (up 6.9 points year over year). Of the extra revenue versus Q1 2025, 62% reached operating profit, above the 26% margin then. Operating expenses grew 14% against revenue growth of 24%. The fastest-growing cost line was Research & development (+28%). Net earnings were $0.35B, up 65% year over year. The effective tax rate was 2.2%.
Operating cash flow was −$0.21B. Non-cash charges added back $0.15B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.72B. Capital expenditures of $0.12B exceeded it, leaving free cash flow of −$0.33B.
Questions
What was First Solar's revenue in the first quarter 2026?
First Solar (FSLR) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +24% from a year earlier and -38% from the quarter before.
Was First Solar profitable in the first quarter 2026?
Operating profit was $345M (33.1% of revenue) and net earnings $347M.
Source: First Solar 10-Q on SEC EDGAR.