Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“this is something that came up when First Solar reported earlier this week”
An analyst referenced First Solar's commentary on solar-module tariffs from its earnings report earlier that week while asking whether tariff pressure was materializing as a problem for Quanta's customers; Quanta said it had not seen that impact within its own customer base.
“the recently reported $236 million settlement entered into between Maxeon and Aiko just days before a U.S. patent court was due to decide their patent dispute.”
First Solar cites the Maxeon-Aiko $236M patent settlement as industry evidence of mounting IP-enforcement headwinds in the crystalline-silicon sector.
“our three actions seeking monetary damages against affiliates of Adani, Canadian Solar, and Jinko in the U.S. District Court.”
First Solar's TOPCon patent litigation targets Jinko affiliates among the crystalline-silicon manufacturers it is enforcing IP against.
“our three actions seeking monetary damages against affiliates of Adani, Canadian Solar, and Jinko in the U.S. District Court.”
First Solar is seeking monetary damages against Canadian Solar affiliates for alleged TOPCon patent infringement.
“our three actions seeking monetary damages against affiliates of Adani, Canadian Solar, and Jinko in the U.S. District Court.”
First Solar is pursuing TOPCon patent-infringement damages against affiliates of Adani, part of its IP enforcement against crystalline-silicon rivals.
“we have entered into an agreement with Oxford PV, the holder of what we believe is the most fundamental portfolio of perovskite-related patents.”
First Solar signed a nonexclusive perovskite patent licensing agreement with Oxford PV to advance its next-generation thin-film program.
“the termination amounts recognized in the third quarter related to breach contracts by affiliates of BP.”
Affiliates of BP breached module supply contracts with First Solar, leading to terminations and litigation that weighed on results.
“interim measures against an affiliate of Huawei Solar in response to a claim”
U.S. CBP opened a transshipment investigation into a Huawei Solar affiliate accused of routing Chinese solar product through India, a trade-enforcement read-through on a Chinese competitor.
“the CEO of ES Foundry explained that his company's decision to focus on manufacturing PERC technology was due, at least in part, to the”
First Solar cites ES Foundry's CEO choosing PERC over TOPCon due to litigation risk, supporting First Solar's TOPCon IP position.
“petitions filed by affiliates of Canadian Solar, JinkoSolar and Mundra that seek to invalidate our U.S. TOPCon patents.”
Mundra affiliates petitioned to invalidate First Solar's U.S. TOPCon patents alongside other solar manufacturers.
“petitions filed by affiliates of Canadian Solar, JinkoSolar and Mundra that seek to invalidate our U.S. TOPCon patents.”
JinkoSolar affiliates petitioned to invalidate First Solar's U.S. TOPCon patents, a competitor challenge to First Solar's IP position.
“petitions filed by affiliates of Canadian Solar, JinkoSolar and Mundra that seek to invalidate our U.S. TOPCon patents.”
Affiliates of Canadian Solar filed petitions seeking to invalidate First Solar's U.S. TOPCon patents, part of ongoing IP litigation among solar manufacturers.
“We terminated 6.6 gigawatts of bookings under multiyear agreements defaulted on by affiliates of BP, a European oil and gas major”
Affiliates of BP defaulted on 6.6 GW of module contracts with First Solar, which terminated the agreements and filed suit, a negative read-through on BP's retreat from renewables development.
| Analyst | Firm | Questions (Challenge)Percentage 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%) |
| Mark Strouse | JPMorgan | 4 (0%) |
| Julien Dumoulin-Smith | Jefferies | 4 (0%) |
| Vikram Bagri | Citigroup | 3 (0%) |
| Ben Kallo | Robert W. Baird | 3 (0%) |
| Praneeth Satish | Wells Fargo | 2 (0%) |
| Moses Sutton | BNP Paribas | 2 (0%) |
| Joe Osha | Guggenheim | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage 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 closed FY2025 with record 17.5 GW in full-year module sales and EPS of $14.21 within guidance, as revenue grew 11.2% with the CuRe conversion beginning in Ohio. U.S. bookings at $0.364 ASP with technology adders reflected disciplined pricing, while $600 million in CuRe technology adjusters sat in the backlog. Management introduced FY2026 EBITDA guidance of $2.6-$2.8 billion, shifting to EBITDA reporting, and the ITC Section 337 investigation targeted 10 TOPCon manufacturers.
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 |