Key Highlights

● First Solar slid on Friday, October 30, 2026, after a mixed third quarter.

● Earnings of $5.30 a share beat estimates, but Revenue of $1.23 billion missed.

● The company lowered 2026 revenue guidance to $4.6 billion to $4.9 billion.

● A new buyback offered little relief near the 52-week low.

First Solar (NASDAQ:FSLR) slid on Friday, October 30, 2026, after a mixed third-quarter report. The size of the move was not confirmed in closing data, but the shares traded lower and sat near their 52-week low of about $173.

The Tempe, Arizona-based solar module maker posted Earnings of $5.30 a share, comfortably ahead of estimates of $4.64 to $4.67. But revenue of $1.23 billion missed the $1.29 billion analysts expected, and investors focused on the top line.

A cut to the full-year forecast

The bigger disappointment was guidance. First Solar lowered its 2026 revenue outlook to $4.6 billion to $4.9 billion, down from $4.9 billion to $5.2 billion. It also lowered its delivery guidance at the midpoint, a sign that fewer modules will ship to customers this year than it had planned.

The company also announced a $500 million share buyback. That was not enough to offset the reduced outlook on the day.

Analysts trim targets

One analyst cut the price target on First Solar to $246 from $270 while keeping a Positive rating, according to market data. Another broker also lowered its target.

The cuts followed the company's reduced sales forecast. Susquehanna kept its Positive rating even as it lowered its target.

A market in retreat

First Solar's slide came on a difficult day for Wall Street. The S&P 500 fell 140.32 points to 7,580.07, the Dow Jones Industrial Average lost 572.25 points to 51,770.31 and the Nasdaq Composite dropped 747.73 points to 25,437.00, its worst session since June. The Russell 2000 slipped 47.37 points to 2,811.84.

The selling was concentrated in technology. Intel (NASDAQ:INTC)'s weak fourth-quarter outlook and warning of cash burn this year sparked a rout in chip and AI stocks, and Intel suffered what market reports called its steepest one-day drop on record. Amazon (NASDAQ:AMZN)'s negative trailing 12-month free Cash Flow of $42.4 billion added to worries about AI spending.

Energy was the best-performing sector, but the gains were driven by oil and gas producers as West Texas Intermediate crude rose $2.12 to $104.12 a barrel. Exxon Mobil (NYSE:XOM) posted record refining results, and both it and Chevron (NYSE:CVX) briefly hit record highs. Consumer staples, utilities and health care also rose as investors moved toward defensive stocks.

Elsewhere, crypto stocks fell after a reported $6.3 billion hack at Binance, and markets continued to price in a December rate increase from the Federal Reserve. Higher rates can raise financing costs for large solar projects, an added headwind for the industry.

While First Solar struggled, utilities were in favor. Alliant Energy raised its Capital spending plan to $15.9 billion, citing 3.4 gigawatts of data-center demand. That kind of Demand for new electricity Supply has been a long-term talking point for renewable energy suppliers, even if First Solar's latest numbers showed near-term softness.

What to watch

Investors will be watching whether First Solar's buyback gives the shares a floor near their 52-week low, and whether its reduced delivery outlook proves conservative.

On the macro calendar, the midterm elections on November 3 could shape the policy outlook for clean energy. The October jobs report on Friday, November 6, will influence expectations for the Federal Reserve's December decision and, with it, the cost of financing new solar projects.