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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Philip Shen | ROTH Capital Partners | 10 | 30% |
| Brian Lee | Goldman Sachs | 9 | 0% |
| Julien Dumoulin-Smith | Jefferies | 4 | 0% |
| Mark Strouse | JPMorgan | 4 | 0% |
| Vikram Bagri | Citigroup | 3 | 0% |
| Ben Kallo | Robert W. Baird | 3 | 0% |
| Praneeth Satish | Wells Fargo | 2 | 0% |
| Joe Osha | Guggenheim | 2 | 0% |
| Moses Sutton | BNP Paribas | 2 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Goldman Sachs | 2 | 10 | 0% |
| ROTH Capital Partners | 1 | 10 | 30% |
| Jefferies | 2 | 5 | 0% |
| JPMorgan | 1 |
| 4 |
| 0% |
| Robert W. Baird | 1 | 3 | 0% |
| Citigroup | 1 | 3 | 0% |
| Wells Fargo | 1 | 2 | 0% |
| Guggenheim | 1 | 2 | 0% |
First Solar delivered record Q1 revenue of $1 billion, up 24% year-over-year, with EPS of $3.22 surging 65% as CuRe modules began fleet rollout and India achieved record quarterly sales of 1 GW. Adjusted EBITDA of $520 million exceeded the high end of the quarterly preview, and the ITC instituted a Section 337 investigation against major TOPCon importers. Full-year 2026 guidance remained unchanged at $2.6-$2.8 billion EBITDA with Southeast Asia at significantly reduced utilization pending Section 232 decision.
Demand | Pricing | Trade Tariffs | Competitive Dynamics | Geographic Expansion | Guidance Reliability | Capex Investment | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 1 | 1 | 1 | 2 | 2 | ||
| 2025Q1 | 1 | 1 | 5 | 1 | 1 | 1 | 2 | 1 |
| 2025Q2 | 2 | 4 | 1 | 2 | 1 | 2 | ||
| 2025Q3 | 5 | 3 | 1 | 2 | 2 | 2 | ||
| 2025Q4 | 4 | 3 | 3 | 1 | 1 | 1 | ||
| 2026Q1 | 3 | 2 | 5 | 2 | 3 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 3 | 1 | 2 | 5 | 4 | 3 |
| Pricing | 1 | 4 | 3 | 3 | 2 | |
| Trade Tariffs | 1 | 5 | 1 | 5 | ||
| Competitive Dynamics | 1 | 1 | 2 | 1 | 3 | 2 |
| Geographic Expansion | 1 | 1 | 2 | 1 | 3 | |
| Guidance Reliability | 2 | 1 | 1 | 2 | 1 | |
| Capex Investment | 2 | 2 | 2 | 1 | ||
| Margin | 2 | 1 | 1 | 2 |