FIRST SOLAR, INC. — fact timeline

FIRST SOLAR, INC. reported the first quarter ended March 31, 2026 results: revenue $1.04 billion, net income $347 million, EPS $3.22 per diluted share. Guidance reaffirmed.

“First Solar, Inc. (Nasdaq: FSLR) (the “Company”), America’s leading PV solar technology and manufacturing company, today announced financial results for the first quarter ended March 31, 2026 and reaffirmed its 2026 guidance. Net sales were $1.04 billion for the first quarter of 2026, a 24% increase compared to the first quarter of 2025, driven primarily by an increase in the volume of modules sold to third parties. The Company reported first quarter net income of $347 million, or $3.22 per diluted share, compared to $210 million, or $1.95 per diluted share, in the first quarter of 2025.”

FIRST SOLAR, INC. incurred revolving credit of $1,500,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus a margin of 1.000% to 1.500% maturing five years from the closing date.

“The Credit Agreement provides the Company with a senior unsecured five-year revolving credit facility (the “Credit Facility”) in an aggregate principal amount of $1,500,000,000, with a sub-limit of $450,000,000 available for the issuance of letters of credit.”

FIRST SOLAR, INC. terminated Existing Credit Agreement with JPMorgan Chase Bank, N.A. valued at Voluntary termination of senior secured revolving credit agreement dated June 30, 2023 (effective 2026-02-13).

“On February 13, 2026, substantially concurrently with the Company’s entry into the Credit Agreement, the Company voluntarily terminated its existing senior secured revolving credit agreement (the “Existing Credit Agreement”), dated as of June 30, 2023 and as amended from time to time, among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto, and JPMorgan Chase Bank, N.A., as administrative agent.”

FIRST SOLAR, INC. entered into Revolving Credit and Guaranty Agreement with JPMorgan Chase Bank, N.A. valued at $1,500,000,000 senior unsecured five-year revolving credit facility with $450,000,000 sub-limit for (effective 2026-02-13).

“On February 13, 2026, First Solar, Inc. (the “Company”) entered into a Revolving Credit and Guaranty Agreement (the “Credit Agreement”), among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”).”

Molly E. Joseph departed as Director at FIRST SOLAR, INC..

“On March 12, 2025, Molly E. Joseph notified First Solar, Inc. (the “Company”) that she will not stand for re-election as a member of the Company’s Board of Directors (the “Board”) at the Company’s 2025 Annual Meeting of Stockholders”

Byron Jeffers was appointed as Vice President, Treasurer and Head of Investor Relations at FIRST SOLAR, INC..

“Also effective January 6, 2025, Byron Jeffers, former Vice President, Global Controller and Chief Accounting Officer, has been appointed Vice President, Treasurer and Head of Investor Relations at First Solar.”

Nathan Theurer was appointed as Vice President, Global Controller and Chief Accounting Officer at FIRST SOLAR, INC..

“On January 3, 2025, First Solar, Inc. (“First Solar” or the “Company”) appointed Nathan Theurer, age 44, to the position of Vice President, Global Controller and Chief Accounting Officer, effective January 6, 2025”

FIRST SOLAR, INC.: Amended and restated bylaws to permit stockholders owning 25% or more of outstanding common stock and complying with other requirements to call special meetings of stockholders (effective 2024-05-08).

“the stockholders of the Company approved the amendment and restatement of the Company’s amended and restated bylaws (as amended and restated, the “A&R Bylaws”) to enable stockholders who own 25% or more of the Company’s outstanding common stock and who comply with the other applicable requirements as set forth in the A&R Bylaws, including a one-year holding period, to call a special meeting of stockholders. The A&R Bylaws became effective on May 8, 2024.”

FIRST SOLAR, INC. shareholders rejected Stockholder proposal to adopt a shareholder right to call a special shareholder meeting at the 2024-05-08 meeting.

“Stockholders did not approve a stockholder proposal to adopt a shareholder right to call a special shareholder meeting.”

FIRST SOLAR, INC. shareholders approved Amendment and restatement of bylaws to permit stockholders to call special meetings at the 2024-05-08 meeting.

“Stockholders approved an amendment and restatement of our bylaws to permit stockholders to call special meetings.”

FIRST SOLAR, INC. shareholders approved Advisory resolution on compensation of named executive officers at the 2024-05-08 meeting.

“Stockholders approved an advisory resolution on the compensation of our named executive officers.”

FIRST SOLAR, INC. shareholders approved Ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm at the 2024-05-08 meeting.

“Stockholders ratified the appointment of PricewaterhouseCoopers LLP as First Solar, Inc.’s independent registered public accounting firm for the year ending December 31, 2024.”

FIRST SOLAR, INC. shareholders approved Election of ten nominees to the board of directors at the 2024-05-08 meeting.

“Stockholders elected each of the following ten nominees as members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified.”

FIRST SOLAR, INC. reported first quarter ended March 31, 2024 results: revenue $794 million, net income $2.20 per diluted share, EPS $2.20. Guidance reaffirmed.

“99.1) --- EX-99.1 2 ex991pressreleaseq1-2024.htm EXHIBIT 99.1 Document EXHIBIT 99.1 News Release First Solar, Inc. Announces First Quarter 2024 Financial Results • Net sales of $794 million • Net income per diluted share of $2.20 • Net cash balance of $1.4 billion • Maintain full-year 2024 P&L guidance • YTD net bookings of 2.7 GW with an average selling price”