Filing Flows › First Solar (FSLR) › Q3 2026 › vs Q3 2025
First Solar (FSLR) Q3 2026 vs Q3 2025 (year over year)
First Solar's revenue fell $364M (-23%) from $1.6B in Q3 2025 to $1.2B in Q3 2026. Gross margin 57.9% against 38.3% (+19.6 pts).
First Solar, Q3 2026: revenue $1.2B (-23% year over year), operating margin 44.4%, net earnings $571M, operating cash flow −$42.9M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 57.9% | 38.3% | +19.6 pts |
| Operating margin | 44.4% | 29.2% | +15.1 pts |
| Net margin | 46.4% | 28.6% | +17.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $1.2B | $1.6B | −$364M | -23% |
| Gross profit | $713M | $611M | $102M | +17% |
| Cost of revenue | $518M | $984M | −$466M | -47% |
| Other income, net | $19.9M | −$5.8M | $25.7M | — |
| Operating profit | $546M | $466M | $80.0M | +17% |
| Operating expenses | $167M | $145M | $22.3M | +15% |
| Pre-tax earnings | $566M | $460M | $106M | +23% |
| Research & development | $67.2M | $60.6M | $6.6M | +11% |
| SG&A | $65.3M | $47.3M | $18.0M | +38% |
| Other operating costs | $34.4M | $36.7M | −$2.3M | -6% |
| Income tax benefit | $5.0M | −$4.4M | $9.4M | — |
| Net earnings | $571M | $456M | $115M | +25% |
| Operating cash sources | $771M | −$678M | $1.4B | — |
| Depreciation & amortization | $148M | $132M | $15.8M | +12% |
| Share-based compensation | $9.1M | $7.3M | $1.8M | +24% |
| Cash used in operations | $42.9M | −$1.3B | $1.3B | — |
| Working capital & other | $771M | −$678M | $1.4B | — |
Questions
How much did First Solar's revenue grow year over year in Q3 2026?
First Solar's revenue fell $364M (-23%) from $1.6B in Q3 2025 to $1.2B in Q3 2026. Gross margin 57.9% against 38.3% (+19.6 pts).