First Solar reported second-quarter earnings of $3.92 per share. This result significantly exceeded the analyst consensus estimate of $2.74. Net income climbed to $422.6 million from $342 million during the same period last year.
Quarterly revenue reached $1.06 billion, meeting Wall Street forecasts despite a 4% year-over-year decline. The company attributed this decrease to lower revenue from customer contract terminations.
The company maintains a contracted sales backlog of 45.1 gigawatts through 2030. CEO Mark Widmar reported record sales volumes for the first half of the year.
First Solar reaffirmed its full-year 2026 guidance. The company expects revenue between $4.9 billion and $5.2 billion.