First Solar

First Solar reported Q2 2026 net sales of $1.06 billion, down 4% year-over-year, driven by customer contract terminations offset partly by higher third-party module volume. Net income was $423 million, or $3.92 per diluted share, up 23% from $3.18 in Q2 2025. Adjusted EBITDA grew to $644 million from $560 million. The company surpassed 100 GW of cumulative global module sales and ended with 45.1 GW of contracted backlog extending through 2030. Net cash balance decreased to $1.7 billion as of June 30, 2026 from $2.4 billion at year-end 2025 due to seasonal working-capital needs and South Carolina facility capital spending. The company reaffirmed full-year 2026 guidance: net sales of $4.9–$5.2 billion, volumes of 17.0–18.2 GW, and adjusted EBITDA of $2.6–$2.8 billion. Q3 2026 adjusted EBITDA is expected between $625–$775 million.