First Solar drops full-year revenue guidance on US project delays

Facebook
Twitter
LinkedIn
Reddit
Email

First Solar reported third quarter net sales of US$889 million, an increase of US$345 million from the second quarter of 2014. However, project delays would result in full-year revenue guidance lowered by US$100 million to a range of US$3.6 billion to US$3.9 billion. 

The sequential increase in net sales resulted primarily from increased revenue recognition on the Desert Sunlight project, according to First Solar.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company reported a gross margin of 21.3%, up from prior guidance and up 4.3 percent points from the previous quarter. First Solar said that operating income was US$81.9 million, down slightly from US$83.8 million in the prior quarter.

First Solar said that capital expenditures for the full-year would be between US$250 million to US$300 million, down from a range of US$300 million to US$350 million, without providing details behind the reduction. 

Management noted in the call that it had no plans to create a yieldco financial vehicle. 

Potential PV project pipeline grew around 1GW in the quarter to 13.7GW. 

Read Next

Premium
June 4, 2026
Australian NEM solar generation fell 21.2% to 3,038GWh in May 2026, while a sharp mid-month pricing spike reversed April's stabilisation trend.
June 4, 2026
Inox Clean Energy has acquired Vena Energy India's 6GW renewable energy portfolio, expanding its operating capacity and project pipeline. 
Sponsored
June 4, 2026
Sigenergy has moved into agentic AI with the launch of its all-domain intelligent energy agent, SigenAgent.
June 4, 2026
The opening of this week’s SNEC show in Shanghai was marked by a shared recognition of the need for China’s PV industry to move beyond unchecked capacity expansion and brutal competition, writes Carrie Xiao.
Premium
June 4, 2026
Global Solar Council CEO Sonia Dunlop highlights the pressing need for concerted action to prepare for the coming wave of PV decommissioning and help the industry achieve its goal of circularity.
June 4, 2026
Levanta and ib vogt have secured finance for projects and ACWA Power has leased 500 hectares for its own project.

Upcoming Events

Solar Media Events
June 16, 2026
Napa, USA
Media Partners, Solar Media Events
June 30, 2026
Sacramento, California
Media Partners, Solar Media Events
August 25, 2026
São Paulo, Brazil
Media Partners, Solar Media Events
September 1, 2026
Mexico City, Mexico
Media Partners, Solar Media Events
September 9, 2026