First Solar's second quarter EPS of $3.92 strongly beats estimates despite a 4% revenue decline.

First Solar reported second quarter net sales of $1.06 billion, a 4% decrease year-over-year, while net income per diluted share rose 23% to $3.92. The company reaffirmed its full-year 2026 guidance.

Key Highlights

• Net income per diluted share grew 23% year-over-year to $3.92, significantly exceeding analyst estimates.
• Net sales decreased 4% from the prior-year quarter to $1.06 billion, which the company attributed primarily to lower revenue from customer contract terminations.
• The company's contracted sales backlog was 45.1 GW as of June 30, 2026, providing sales visibility through 2030.