First Solar, Inc. · NASDAQ:FSLR
First Solar — Q3 2025 Earnings Presentation
11 slides from First Solar's earnings presentation, Oct 30, 2025
Slide 1: First Solar Q3'25 Earnings Call
First Solar Q3’25 Earnings Call October 30, 2025 © 2025 Copyright First Solar, Inc. 1
Slide 2: Important Information
| Important Information Cautionary Note Regarding Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this presentation, other than statements of
Slide 3: Third Quarter 2025 Update
| Third Quarter 2025 Update • 2.7 GW of gross bookings since previous earnings call Demand • Total bookings backlog of 54.5 GW extending through 2030 • 5.3 GW of modules sold, near the midpoint of our previous earnings call forecast Financial • Q3 2025 diluted EPS of $4.24, near the midpoint of our
Slide 4: Manufacturing & Policy
| Manufacturing & Policy • Alabama: Throughput capability as designed. glass supply chain issue constrained production U.S. Manufacturing Manufacturing • Louisiana: Commercial operations commenced in August 2025, 19 months after groundbreaking • New U.S. production facility to onshore finishing of I
Slide 5: Expected Module Volume Sold (GW DC)
| Expected Module Volume Sold (GWDC): 85.0 [6.7] GW 9.9 GW 80.0 68.5 GW 11.8 GW 75.0 70.0 65.0 3.0 GW 0.7 GW 54.5 GW 53.7 GW 60.0 48.3 GW 55.0 50.0 45.0 40.0 35.0 (9.3) GW 30.0 25.0 20.0 15.0 10.0 5.0 - Dec. 31, 2024 (1) Volume Sold (2) Net De-bookings (3) Sep. 30, 2025 (4) Net Bookings (5) Oct. 30,
Slide 6: Potential Booking Opportunities
| Potential Booking Opportunities Total booking opportunities Mid-to-Late stage opportunities 4.1 GW © 2025 Copyright First Solar, Inc. of opportunities confirmed, but not booked 79.2 GW Opportunity 17.8 GW Opportunity Note: Volumes are rounded to the nearest hundred megawatts and may not add up due
Slide 7: Income Statement Highlights
| Income Statement Highlights (In millions, except per share amounts)(1) Q3 2025A Q2 2025A Q3 2024A QoQ Change YoY Change Net sales $1,595 $1,097 $888 $498 $707 Gross profit % 38.3% 45.6% 50.2% (7.3)% (11.9)% Selling, general and administrative 47 53 46 (6) 1 Research and development 61 54 50 7 11 P
Slide 8: Balance Sheet Highlights
| Balance Sheet Highlights Q3 2025A (In millions)(1) Q3 2025A Q2 2025A Q3 2024A QoQ Change YoY Change Cash and marketable securities(2) $2,050 $1,209 $1,286 $841 $764 Accounts receivable - current and noncurrent 1,458 1,731 762 (273) 696 Inventories - current and noncurrent 1,355 1,684 1,520 (329) (
Slide 9: 2025 Guidance as of October 30, 2025
| 2025 Guidance as of October 30, 2025(1) July 31, 2025 Current Net Sales $4.90B to $5.70B $4.95B to $5.20B Gross Margin ($)(2) $2.05B to $2.35B $2.10B to $2.20B Operating Expenses(3) $480M to $520M $515M to $535M Operating Income(4) $1.53B to $1.87B $1.56B to $1.68B Earnings Per Diluted Share $13.5
Slide 10: Summary and Highlights
| Summary and Highlights • New 3.7 GW capacity module finishing line in the U.S., expected to commence operations in Manufacturing Q4 2026, and ramp through 1H 2027 • Record 5.3 GW of modules sold in the quarter Financial • Q3 2025 diluted EPS of $4.24, above mid-point of previous earnings call fore
Slide 11: © 2025 Copyright First Solar, Inc.
© 2025 Copyright First Solar, Inc. First Solar, the First Solar logo, and Leading the World’s Sustainable Energy Future are trademarks of First Solar, Inc., registered in the U.S. and other countries. Series 6, Series 6 Plus, CuRe, Series 6 CuRe, and the Series 6 CuRe logo are trademarks of First So