First Solar reported strong second-quarter results with net sales of $1.1 billion and diluted EPS of $3.18, driven by increased module sales. The company also significantly increased its net cash balance and maintained its full-year EPS guidance midpoint, reflecting a strengthened position in the solar manufacturing industry.
Net sales for the second quarter reached $1.1 billion, a $0.3 billion increase from the prior quarter, primarily due to higher module sales volume.
Diluted net income per share was $3.18, up from $1.95 in the first quarter of 2025.
The net cash balance increased to $0.6 billion from $0.4 billion in the prior quarter, largely due to proceeds from Section 45X tax credit sales.
The company booked 2.1 GW in July 2025 and reported an expected sales backlog of 64.0 GW extending through 2030.
First Solar updated its 2025 guidance, increasing the lower end of its net sales, gross margin, operating expenses, operating income, and earnings per diluted share ranges, and significantly raising its net cash balance outlook, while maintaining capital expenditures and the upper end of volume sold.