First Solar Q2 net income $423M ($3.92/diluted), up 23% YoY; reaffirms 2026 guidance

FIRST SOLAR, INC.

Net sales $1.06B, down 4% YoY on customer contract terminations, partially offset by higher module volume.
Net income $423M ($3.92/diluted) vs $342M ($3.18) in Q2 2025; adjusted EBITDA $644M vs $560M.
Net cash balance $1.7B as of June 30, 2026, down from $2.4B at Dec 31, 2025 due to working capital and capex.
Contracted sales backlog 45.1 GW extending through 2030; cumulative module sales surpassed 100 GW.
2026 guidance reaffirmed; management cites strong demand for differentiated technology and domestic manufacturing.

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