UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33156 First Solar, Inc. (Exact name of registrant as specified in its charter) Delaware 20-4623678 (State or other jurisdiction ...

EXHIBIT 99.1 News Release First Solar, Inc. Announces Second Quarter 2025 Financial Results and Updates Guidance TEMPE, Arizona, July 31, 2025 – First Solar, Inc. (Nasdaq: FSLR) (the "Company") today announced financial results for the second quarter ended June 30, 2025, and updated its 2025 guidance. Net sales for the second quarter were $1.1 billion, an increase of $0.3 billion from the prior quarter. The increase in net sales was primarily due to an increase in the volume of modules sold to third parties ...

Core Insights - Global investments in clean energy are increasing, with solar power emerging as a rapidly growing electricity source, creating opportunities for companies like First Solar (FSLR) and Canadian Solar (CSIQ) [1] Group 1: First Solar (FSLR) - Recent achievements include the commencement of operations at a fourth manufacturing facility in the U.S. and plans for a fifth facility, targeting over 25 gigawatts (GW) annual production capacity by the end of 2026 [4][11] - As of March 2025, FSLR signed contracts to deliver 66.1 GW of modules valued at $19.8 billion, ensuring a stable income stream through 2030 [5] - Financial stability is highlighted by cash and cash equivalents totaling $891 million, with long-term debt at $328 million and current debt at $197 million, indicating a strong solvency position [6] - Challenges include concerns over increased production capacity among solar manufacturers, particularly in China, which could lead to oversupply and price drops [7] - Manufacturing defects in Series 7 modules could impact near-term performance, with estimated costs ranging from $56 million to $100 million [8] Group 2: Canadian Solar (CSIQ) - Recent achievements include securing $260 million in financing for the Blue Moon Solar project in Kentucky and bringing the Papago Storage facility online with 1200 megawatt-hours (MWh) of battery storage capacity [9][10] - Financial stability is weaker, with cash and cash equivalents totaling $2.02 billion, while current debt is $2.92 billion and long-term debt is $3.22 billion, indicating a weak solvency position [13] - Challenges include pressure from global oversupply, leading to a net loss of $34 million in Q1 2025, and ongoing trade tensions that may raise costs due to new U.S. tariffs [14][15] Group 3: Comparative Analysis - The Zacks Consensus Estimate for FSLR indicates an 18.5% improvement in sales and a 23.2% increase in earnings per share (EPS) for 2025 [16] - In contrast, CSIQ's sales are expected to improve by only 4.3%, with a projected loss per share of $1.74, indicating a deterioration from the previous year [17] - Stock price performance shows FSLR down 18%, outperforming CSIQ, which is down 25.1% over the past year [19] - Valuation metrics indicate FSLR trading at a forward sales multiple of 3.46X, while CSIQ is at 0.11X, suggesting a more attractive valuation for Canadian Solar despite its challenges [20] Group 4: Final Assessment - First Solar shows better near-term prospects due to financial stability and robust earnings generation opportunities compared to Canadian Solar, which faces more significant challenges [23]

Core Viewpoint - First Solar, Inc. is expected to report second-quarter 2025 results on July 31, 2025, after market close, with a negative earnings surprise of 22.00% in the last quarter and a four-quarter average negative earnings surprise of 6.94% [1] Factors Impacting Results - Global solar energy demand is steadily improving, driven by increasing energy consumption, declining installation costs, and heightened clean energy awareness, which is expected to boost sales volume for First Solar's products [2] - Solid revenue growth expectations are supported by a high mix of modules sold from U.S. factories that qualify for Section 45X tax credits, likely enhancing quarterly earnings growth [3] - However, lower capacity utilization and throughput at Malaysia and Vietnam factories, due to anticipated reduced demand for modules from newly imposed U.S. tariffs, may negatively impact revenues and earnings [4] - A shift in sales mix is anticipated, with more modules directed to the lower-priced Indian market instead of the U.S., which may also hurt top and bottom-line performance [5] - High module production costs in the U.S. and underutilization charges from lower-than-full production capacity in Asia are likely to affect overall bottom-line performance [6] Q2 Estimates - The Zacks Consensus Estimate for FSLR's second-quarter sales is $1.03 billion, indicating year-over-year growth of 1.9% [7] - The consensus estimate for earnings per share is $2.68, reflecting a year-over-year decline of 17.5% [7] Earnings Prediction Model - The current model does not predict an earnings beat for First Solar, with an Earnings ESP of -5.23% and a Zacks Rank of 3 (Hold) [8][10] Summary of Revenue Influences - Q2 revenues may rise due to strong solar demand and increased sales of U.S.-made modules, while new tariffs likely reduced Southeast Asia output, shifting module sales to lower-priced markets like India [9] - Higher U.S. production costs and factory underuse in Asia may weigh on FSLR's Q2 earnings performance [9]

First Solar (FSLR) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 31. On t ...

Core Insights - The article emphasizes the effectiveness of the Zacks Rank system in identifying winning stocks through earnings estimates and revisions [1] - Value investing is highlighted as a popular and successful strategy across various market conditions, focusing on undervalued stocks [2] - Zacks has introduced the Style Scores system to identify stocks with specific traits, particularly those with high grades in the Value category [3] Company Analysis: First Solar (FSLR) - First Solar (FSLR) is currently rated with a Zacks Rank of 2 (Buy) and has an A grade for Value, indicating strong investment potential [4] - FSLR's Forward P/E ratio stands at 9.13, significantly lower than the industry average of 15.56, suggesting it may be undervalued [4] - The stock's Forward P/E has fluctuated between a high of 14.16 and a low of 5.80 over the past year, with a median of 9.30 [4] - FSLR's PEG ratio is 0.27, compared to the industry average of 0.70, indicating favorable growth expectations relative to its valuation [5] - The PEG ratio has ranged from a high of 0.33 to a low of 0.15 in the past 52 weeks, with a median of 0.23 [5] - FSLR's P/CF ratio is 10.96, which is attractive compared to the industry average of 11.48, further supporting its undervaluation [6] - The P/CF ratio has varied between 17.64 and 7.50 over the past year, with a median of 11.62 [6] - Overall, these metrics suggest that FSLR is likely undervalued and presents a strong investment opportunity based on its earnings outlook [7]

In the latest close session, First Solar (FSLR) was up +1.33% at $175.85. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq gained 0.05%. Heading into today, shares of the largest U.S. solar company had gained 20.79% over the past month, outpacing the Oils-Energy sector's loss of 1.27% and the S&P 500's gain of 5.37%.Investors will be eagerly watching for the performance of First Solar in its upcoming earnings disclo ...

Core Insights - The First Trust Energy AlphaDEX ETF (FXN) is a smart beta ETF that provides broad exposure to the Energy sector, having debuted on May 8, 2007 [1] - The ETF industry has been traditionally dominated by market capitalization weighted indexes, but smart beta strategies aim to outperform through stock selection based on fundamental characteristics [2][3] - FXN is sponsored by First Trust Advisors and has assets totaling approximately $278.76 million, positioning it as an average-sized ETF in the Energy category [5] Fund Structure and Strategy - FXN seeks to match the performance of the StrataQuant Energy Index, which is a modified equal-dollar weighted index designed to identify stocks from the Russell 1000 Index that may generate positive alpha [6] - The fund has an annual operating expense ratio of 0.61% and a 12-month trailing dividend yield of 2.92%, which is competitive within its peer group [7] Sector Exposure and Holdings - The fund has a significant allocation to the Energy sector, representing 93.5% of its portfolio [8] - First Solar, Inc. (FSLR) is the largest holding at approximately 5.8%, with the top 10 holdings accounting for about 41.17% of total assets [9] Performance Metrics - Year-to-date, FXN has experienced a loss of approximately -3.71%, and over the last 12 months, it is down about -14.12% as of July 18, 2025 [11] - The fund has a beta of 0.90 and a standard deviation of 28.29% over the trailing three-year period, indicating a higher risk profile compared to peers [11] Alternatives in the Market - For investors seeking to outperform the Energy ETFs segment, alternatives such as the Vanguard Energy ETF (VDE) and the Energy Select Sector SPDR ETF (XLE) are available, with VDE having $7.15 billion in assets and XLE at $27.57 billion [13] - VDE and XLE have lower expense ratios of 0.09% and 0.08% respectively, making them more attractive options for cost-conscious investors [13]

Group 1 - First Solar (FSLR) stock price increase narrowed to 4.5% [1] - Daqo New Energy ADR currently up 7.6%, SolarEdge up 4.2%, Clean Energy ETF QCLN up 2.4%, and Canadian Solar ADR up 1.6% [1] - U.S. solar manufacturers have filed anti-dumping and countervailing duty petitions against three Asian countries: India, Indonesia, and Laos [1]

Core Viewpoint - First Solar Inc. (FSLR) has shown strong stock performance, gaining 29.4% over the past three months, outperforming both the solar industry and broader market indices [1][9]. Company Performance - FSLR's stock performance is attributed to aggressive expansion plans, including the start of operations at its fourth U.S. manufacturing facility in Q2 2025 [4]. - The company plans to add approximately four gigawatts (GW) of new capacity, aiming for an annual manufacturing capacity exceeding 25 GW by the end of 2026 [5]. - FSLR has entered contracts for the future sale of 66.1 GW of solar modules, valued at $19.8 billion, expected to contribute to revenue through 2030 [10]. Market Outlook - The growth prospects for FSLR are supported by ongoing capacity expansion and a strong demand outlook for solar energy [7]. - The Zacks Consensus Estimate for FSLR's long-term earnings growth rate is 34.5%, surpassing the industry's growth rate of 23.1% [11]. Financial Estimates - The Zacks Consensus Estimate indicates revenue growth of 18.2% and 18.3% for 2025 and 2026, respectively [15]. - Current estimates for FSLR's 2025 and 2026 revenues are $4.97 billion and $5.88 billion, respectively [16]. Valuation Metrics - FSLR shares are trading at a premium, with a forward Price/Sales (P/S F12M) ratio of 3.16, compared to the industry average of 1.27 [18]. - Competitors Canadian Solar (CSIQ) and SolarEdge Technologies (SEDG) are trading at lower P/S ratios of 0.13 and 1.30, respectively [19].