First Solar Soars on Strong Earnings and Outlook Amid Solar Policy Tailwinds
• First Solar stock jumped 6% after beating earnings expectations and raising guidance due to strong demand • The company has a backlog of orders through 2026 and expects $4.4B-$4.6B in revenue this year • First Solar benefits from the Inflation Reduction Act's tax credits for domestic solar manufacturers • The solar industry faces challenges like global oversupply, pricing volatility, and higher interest rates • First Solar stands out with its focus on the utility sector and longer-term contracts