Key Highlights

  • The shares were up USD 15.11, or 8.13%, at USD 201.02 in pre-market trading on November 4, 2026.
  • Third-quarter 2026 net sales were USD 1.23 billion, down 23% year over year, while Net Income was USD 571 million versus USD 456 million.
  • Full-year net sales guidance was cut to USD 4.6 billion to USD 4.9 billion from USD 4.9 billion to USD 5.2 billion.
  • Contracted Backlog stood at 44.0 GW at September 30, 2026.
  • The company announced a new USD 500 million share repurchase authorization.

What Moved First Solar Before the Open (up USD 15.11, 8.13%)

First Solar (NASDAQ:FSLR) was up USD 15.11, or 8.13%, to USD 201.02 in pre-market trading on November 4, 2026, against the Tuesday, November 3 close. The company's third-quarter results were published in late October 2026, and no new company announcement dated November 2 to November 4, 2026 was identified as the trigger.

Other solar names also showed gains on the same pre-market screen, which points to a sector move as a likely contributor.

The Third-Quarter Report in Detail

According to the company's Earnings release and call, net sales were USD 1.23 billion, down 23% from the year-earlier quarter and above the USD 1.02 billion reported for the second quarter of 2026. Net income rose to USD 571 million from USD 456 million, and Diluted Earnings per Share were USD 5.30 versus USD 4.24. Adjusted EBITDA was USD 744 million against USD 671 million. Gross Margin was reported at 58%, roughly 20 percentage points above the prior-year quarter.

The full-year outlook was trimmed on volume. Module sales are now expected at 16 GW to 17 GW, down from 17 GW to 18.2 GW, and adjusted EBITDA at USD 2.55 billion to USD 2.75 billion, from USD 2.6 billion to USD 2.8 billion. Capital Expenditure guidance fell to USD 600 million to USD 800 million from USD 800 million to USD 1 billion. For the fourth quarter, the company guided to module sales of 4.3 GW to 5.3 GW.

Business Background and Strategic Updates

First Solar manufactures thin-film solar modules, with a large and growing share of capacity in the United States. The company said contracted backlog was 44.0 GW at September 30, 2026, with deliveries extending through 2030.

Management described the August Section 232 proclamation as a structural change in how the United States approaches solar manufacturing, and said it wants to avoid selling into the spot market. The company expects nearly 80% of its global Manufacturing footprint to be in the United States by 2027. A decision on whether to shut down or fully run its 1.8 GW Malaysia factory is expected in the first half of 2027.

Balance Sheet and Risks

The company reaffirmed year-end net cash guidance of USD 1.7 billion to USD 2.3 billion. The new USD 500 million repurchase program would draw on that cushion.

Risks include lower 2026 volumes, a Revenue decline year over year, policy dependence on trade measures and tax rules.

What to Watch Next

The quarterly Form 10-Q should add detail on cash, receivables and warranty accruals. Investors will also watch fourth-quarter shipments against the 4.3 GW to 5.3 GW range, further U.S. bookings and pricing, progress on the Malaysia decision, and how quickly the buyback is used. Regular trading begins at 9:30 a.m. Eastern.