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First Solar cuts sales forecast as tariff uncertainty slows orders

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First Solar cuts sales forecast as tariff uncertainty slows orders

First Solar has announced financial results for the third quarter of 2026, reporting $1.23 billion in net sales, a 58% gross margin and $571 million in net income. 

While net sales declined 23% year over year due to lower volumes of modules sold to third parties, the company’s gross margin was roughly 20 percentage points higher than the same figure for the third quarter of 2025, and net income rose 25% year over year. The company also authorized a new $500 million stock buyback.

Due to the slowdown in sales, the company reduced its full-year volume sold forecast to between 16.0 GW and 17.0 GW and lowered its full-year 2026 net sales guidance to between $4.6 billion and $4.9 billion, down from the $4.9 billion to $5.2 billion it reported after the second quarter.

On the company’s third-quarter earnings call, executives outlined how First Solar is adjusting its commercial and operational strategy following the August Section 232 tariff proclamation. The call and following Q&A focused on a number of important topics, including a forthcoming “binary decision” on the future of First Solar’s 1.8 GW Malaysia factory, investments in perovskite technology and how upcoming modules built with the company’s CuRe technology stack up against crystalline silicon PERC and TOPCon competitor in cost.

On the earnings call, company CEO Mark Widmar said First Solar will soon file its formal legal response in the Swift Current case and maintained that the company’s warranty terms govern any remediation.



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