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Sentiment · FY2026 Q2
| 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 | 11 (36%) |
| Brian Lee | Goldman Sachs | 11 (0%) |
| Julien Dumoulin-Smith | Jefferies | 5 (0%) |
| Mark Strouse | JPMorgan | 4 (0%) |
| Praneeth Satish | Wells Fargo | 4 (0%) |
| Ben Kallo | Robert W. Baird | 3 (0%) |
| Vikram Bagri | Citigroup | 3 (0%) |
| Colin Rusch | Oppenheimer | 2 (0%) |
| Joe Osha | Guggenheim | 2 (0%) |
| Moses Sutton | BNP Paribas | 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. |
|---|---|---|
| ROTH Capital Partners | 1 | 11 (36%) |
| Goldman Sachs | 1 | 11 (0%) |
| Jefferies | 2 | 6 (0%) |
| Wells Fargo | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.51B | +30.7% | $3.65 | +12.3% | 37.5% | 30.2% | 26.0% | $497M |
| FY2025 Q1 | $845M | +6.4% | $1.95 | -11.4% | 42.4% | 26.2% | 24.8% | $-814M |
| FY2025 Q2 | $1.10B | +8.6% | $3.18 |
| 4 (0%) |
| JPMorgan | 1 | 4 (0%) |
| Citigroup | 1 | 3 (0%) |
| Robert W. Baird | 1 | 3 (0%) |
| Morgan Stanley | 2 | 2 (50%) |
| -2.2% |
| 45.6% |
| 33.0% |
| 31.2% |
| $-139M |
| FY2025 Q3 | $1.59B | +79.7% | $4.24 | +45.7% | 38.3% | 29.2% | 28.6% | $1.07B |
| FY2025 Q4 | $1.68B | +11.1% | $4.84 | +32.6% | 39.5% | 32.6% | 31.0% | $1.07B |
| FY2026 Q1 | $1.04B | +23.6% | $3.22 | +65.1% | 46.5% | 33.1% | 33.2% | $-333M |
| FY2026 Q2 | $1.06B | -3.7% | $3.92 | +23.3% | 57.3% | 42.6% | 40.0% | $-306M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
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 |
What FSLR and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“If Tesla chooses to go with TOPCon, my assessment would be given what I see in the market unless Tesla tries to redesign the product such that they would not infringe our IP.”
First Solar's CEO says Tesla entering US module manufacturing with TOPCon would likely infringe First Solar's intellectual property, framing Tesla as a potential competitor and IP licensee.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
FSLR First Solar | 9 | +23.6% | |
| APA APA Corporation | 5 | -11.7% | |
| BKR Baker Hughes | 6 | +2.5% | |
| COP ConocoPhillips | 6 | -2.5% | |
| CTRA Coterra | · | n/a | |
| CVX Chevron Corporation | 7 | +3.2% | |
| DVN Devon Energy | 5 | -13.0% | |
| EOG EOG Resources | 9 | +15.7% | |
| EPD Enterprise Products Partners L.P. | 5 | -6.7% | |
| EQT EQT Corporation | 9 | +39.7% | |
| EXE Expand Energy | 7 | +100.2% | |
| FANG Diamondback Energy | 6 | +5.2% | |
| HAL Halliburton | 4 | -0.3% | |
| KMI Kinder Morgan | 9 | +13.5% | |
| MPC Marathon Petroleum | 8 | +9.7% | |
| OKE ONEOK | 9 | +19.6% | |
| OXY Occidental Petroleum | 6 | -23.1% | |
| PSX Phillips 66 | 8 | +11.7% | |
| SLB Schlumberger | 2 | +2.7% | |
| TPL Texas Pacific Land Corporation | 8 | +20.8% | |
| TRGP Targa Resources | 5 | -15.6% | |
| VLO Valero Energy | 7 | +7.0% | |
| WMB Williams Companies | 6 | -0.6% | |
| XOM ExxonMobil | 7 | +2.6% |