First Solar's stock plunges following a disappointing net sales forecast

First Solar, the largest U.S.-based?maker of solar panels, has forecast current-year sales that are?below expectations. The U.S. solar?panel?expects a higher price?for their products?following?additional tariffs?on foreign-made solar panels. This sent its shares plummeting nearly 14% following the bell.

The U.S. demand for residential solar has been weak because of high interest rates and metering changes in California's top market, which have reduced the credits that customers receive when they feed excess electricity back into the grid.

Solar industry is bracing for a new wave in uncertainty due to President Donald Trump’s energy and trade policies.

The company's net revenue for the quarter ending?December 31 was $1.68 billion, up 11.1% on the previous period. This increase is primarily due to an increase in the number of modules that were sold.

The Arizona-based company now expects net sales in 2026 to range between $4.9 billion and $5.2 billion. LSEG data shows that analysts, on average, expected $6.12 billion.

First Solar reported a net income of $4.84 per diluted share for the 'fourth quarter', up from $3.65 a year earlier. (Reporting by Dharna Bafna in Bengaluru; Editing by Alan Barona)

(source: Reuters)