Press release
First Solar, Inc. Announces First Quarter 2025 Financial Results and Revises Guidance to Reflect Expected Impact of Implementation of New Tariffs
Net sales of $0.8 billion Net income per diluted share of $1.95 Gross cash balance of $0.9 billion, Net cash balance of $0.4 billion YTD net bookings of 0.7
About this update from First Solar, Inc.
[{"type":"text","content":"\n\nNet sales of $0.8 billion\n\n\nNet income per diluted share of $1.95\n\n\nGross cash balance of $0.9 billion, Net cash balance of $0.4 billion\n\n\nYTD net bookings of 0.7 GW; 0.6 GW since fourth quarter earnings call with an average selling price of 30.5 cents per watt, excluding adjusters and India domestic sales\n\n\nExpected sales backlog of 66.3 GW\n\n\n \n\n TEMPE, Ariz.--(BUSINESS WIRE)--\nFirst Solar, Inc. (Nasdaq: FSLR) (the “Company”) today announced financial results for the first quarter ended March 31, 2025, and issued revised guidance to reflect the expected impact of the implementation of new tariffs in April 2025.\n\nNet sales for the first quarter were $0.8 billion, a decrease of $0.7 billion from the prior quarter. The decrease in net sales was primarily due to an anticipated seasonal reduction in the volume of modules sold.\n\nThe Company reported first quarter net income per diluted share of $1.95, compared to net income per diluted share of $3.65 in the fourth quarter of 2024.\n\nCash, cash equivalents, restricted cash, restricted cash equivalents, and marketable securities, less debt at the end of the first quarter, decreased to $0.4 billion from $1.2 billion at year end. The decrease was primarily driven by capital expenditures for our Louisiana manufacturing facility, along with reduced operating cash flows attributable to lower cash receipts from module sales and an increase in inventories to meet contracted commitments in the back half of the year.\n\n“Despite the near-term challenges presented by the new tariff regime, we believe that the long-term outlook for solar demand, particularly in our core U.S. market, remains strong, and that First Solar remains well-positioned to serve this demand,” said Mark Widmar, Chief Executive Officer. “This belief is based on the unique profile of First Solar compared to its peers, as America’s largest, and most established solar module manufacturer, and the country’s only fully vertically integrated producer, our significant network of domestic supply chain vendors, and our proprietary CadTel-based semiconductor.”\n\nOur 2025 guidance has been updated as follows:\n\n\n\n \n\n\n\nPrior\n\n\n\nCurrent\n\n\n\n\n\nNet Sales (1)\n\n\n\n$5.3B to $5.8B\n\n\n\n$4.5B to $5.5B\n\n\n\n\n\nGross Margin (1) (2)\n\n\n\n$2.45B to $2.75B\n\n\n\n$1.96B to $2.47B\n\n\n\n\n\nOperat...