# First Solar Cuts Sales Outlook and Authorizes $500 Million Buyback

Quarterly sales fell 23% as module volumes declined, even as net income increased.

By Will Langan | 24X7 News
Published: 2026-10-29T22:00:49.958Z
Updated: 2026-10-29T22:00:49.958Z
Section: Business
Format: News
Canonical: https://24x7news.us/articles/first-solar-third-quarter-results-october-29-2026

First Solar lowered its 2026 sales outlook and announced a share-repurchase authorization of up to $500 million on October 29.

The solar manufacturer now projects annual net sales of $4.6 billion to $4.9 billion, down from $4.9 billion to $5.2 billion. Its expected sales volume fell to 16–17 gigawatts from 17–18.2 gigawatts.

Third-quarter net sales declined 23% from a year earlier to $1.23 billion. First Solar attributed the decrease primarily to fewer modules sold to third parties.

Net income increased to $571 million, or $5.30 per diluted share, from $456 million, or $4.24. The quarter ended September 30.

The company reduced annual adjusted earnings before interest, taxes, depreciation and amortization guidance to $2.55 billion–$2.75 billion, from $2.6 billion–$2.8 billion.

Net cash declined to $1.5 billion from $2.4 billion at year-end, reflecting working-capital needs and investment primarily in U.S. facilities, partly offset by tax-credit cash receipts and tariff refunds.

The buyback authorization has no expiration date, requires no particular purchase amount and may be suspended. It is permission for future purchases, rather than completed repurchases.

Sources:
First Solar — October 29 Results via Business Wire: https://www.stocktitan.net/news/FSLR/first-solar-inc-announces-third-quarter-2026-financial-results-41zmemfurg75.html

## Sources
- First Solar — October 29 Results via Business Wire: https://www.stocktitan.net/news/FSLR/first-solar-inc-announces-third-quarter-2026-financial-results-41zmemfurg75.html