First Solar Cuts 2025 Outlook After Q1 Earnings Miss

First Solar reported Q1 2025 revenue of $844.6 million and adjusted earnings per share of $1.95, both missing analyst expectations and causing shares to drop as much as 13% in after-hours trading. The company sharply cut its 2025 net sales outlook to $4.5 billion–$5.5 billion from $5.3 billion–$5.8 billion, and reduced its EPS guidance to $12.50–$17.50 from $17–$20, citing the impact of new tariffs and ongoing market pressures. CEO Mark Widmar acknowledged short-term challenges but reiterated confidence in the long-term outlook for U.S. solar demand, highlighting a robust sales backlog of 66.3 GW. First Solar's net cash position declined, attributed to higher capital expenditures and increased inventories. Despite the current headwinds, management remains optimistic about the company's future growth prospects.