First Solar (FSLR) Falls Following Disappointing Guidance for Q1 2026

The share price of First Solar, Inc. (NASDAQ:FSLR) fell by 11.93% between February 18 and February 25, 2026, putting it among the Energy Stocks that Lost the Most This Week.

First Solar, Inc. (NASDAQ:FSLR) is a leading American solar technology company and global provider of responsibly produced, eco-efficient solar modules.

First Solar, Inc. (NASDAQ:FSLR) fell to a multi-month low on February 24 after the company’s earnings of $4.84 per share fell below forecasts by $0.33. Moreover, investor sentiment was dented after First Solar forecasted its FY 2026 revenue to range between $4.9 billion and $5.2 billion, far below the consensus estimate of $6.16 billion. It is worth noting that the solar operator’s revenue grew by 24% YoY to $5.2 billion in FY 2025, so the guidance of flat-to-declining revenue for 2026 didn’t sit well with investors.

First Solar, Inc. (NASDAQ:FSLR) revealed that the reasons for the weak guidance included the strategic underutilization of its Southeast Asian factories, with the company describing its strategy as ‘buying some time to see how these tariffs ultimately get played out’. FSLR is expecting a total tariff impact of $125 million to $135 million this year.

First Solar, Inc. (NASDAQ:FSLR) drew significant negative reactions from Wall Street following the disappointing guidance, with the stock being downgraded outright by Freedom Capital, Deutsche Bank, HSBC, and Baird. Moreover, analysts at JP Morgan, Mizuho, Susquehanna, UBS, RBC Capital, and Jefferies also reduced their price targets for FSLR.

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