First Solar Inc (FSLR) Q1 2025 Earnings Report

First Solar Inc reported its Q1 2025 earnings amidst a challenging landscape characterized by significant tariff uncertainties and operational hurdles. The company's revenue reached $844.6 million, marking a year-over-year increase of 6.35% but a decline of 44.22% quarter-over-quarter, mainly driven by lower international sales volumes due to emerging tariff structures. Gross profit was recorded at $344.4 million, with a gross margin of approximately 41%, up from 37% in Q4 2024. Management highlighted strong demand for its cadmium telluride (CdTe) solar panels, with a total backlog of 66.3 gigawatts; however, increasing tariffs pose a risk to profitability and future sales. Despite facing headwinds from government regulation and tariffs, First Solar remains committed to expanding its U.S.-based manufacturing operations, anticipating a significant ramp-up of production capacity in 2026.