First Solar Analysts Cut Their Forecasts After Q3 Earnings

First Solar Inc (NASDAQ:FSLR) reported mixed results for the third quarter on Thursday.

The company posted quarterly earnings of $5.30 per share which beat the analyst consensus estimate of $4.60 per share. The company reported quarterly sales of $1.231 billion which missed the analyst consensus estimate of $1.288 billion.

First Solar slashed its FY2026 sales guidance from $4.900 billion-$5.200 billion to $4.600 billion-$4.900 billion.

“Section 232 represents a structural change in how the United States approaches solar manufacturing,” said Mark Widmar, Chief Executive Officer, “As a technology company and the only fully-integrated utility-scale solar manufacturer without dependency on the Chinese crystalline silicon supply chain, we believe we are structurally positioned to benefit from this environment.”

First Solar shares fell 4.7% to $168.50 in pre-market trading.

These analysts made changes to their price targets on First Solar following earnings announcement.

• Bernstein analyst Sunaina Ocalan maintained the stock with an Underperform rating and lowered the price target from $197 to $169.
• Needham analyst Sean Milligan maintained the stock with a Buy and lowered the price target from $303 to $236.
• Evercore ISI Group analyst Nicholas Amicucci maintained the stock with an In-Line rating and cut the price target from $218 to $189.

Considering buying FSLR stock? Here’s what analysts think:

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