Achieved Q2 2026 net sales of $1.06 billion, a record first-half sales volume, despite a 3.7–4% year-over-year decline due to lower revenue from contract terminations, partially offset by higher module sales volume.
Gross margin rose to 57–57.3%, up over 11 percentage points year-over-year, driven by IEEPA tariff refunds, Section 45X credits, and lower logistics costs.
Net income for Q2 2026 was $423 million ($3.92 per diluted share), up 23–24% year-over-year.
Surpassed 100 GW of cumulative module sales globally, with a contracted backlog of 45.1 GW valued at $13.6 billion, extending through 2030.
Maintained high utilization rates at U.S. and India manufacturing facilities, advanced technology initiatives, and continued U.S. capacity expansion.
Q2 2026 net sales: $1.06 billion (down 3.7–4% YoY); gross margin: 57–57.3% (up 11–12 percentage points YoY); net income: $423 million; adjusted EBITDA: $644 million (61% margin).
Operating income for Q2 2026: $450 million (42.6% of sales); diluted EPS: $3.92.
Net cash at June 30, 2026: $1.7 billion, within targeted range.
Capital expenditures for H1 2026: $280 million; full-year projected at $0.8–$1.0 billion.
Six-month net sales: $2.10 billion (up 8.2% YoY); six-month net income: $769.2 million.
FY 2026 guidance reaffirmed: net sales $4.9–$5.2 billion, gross profit $2.4–$2.6 billion, operating expenses $610–$635 million, adjusted EBITDA $2.6–$2.8 billion, capital expenditures $0.8–$1.0 billion, net cash $1.7–$2.3 billion.
Volume sold expected at 17.0–18.2 GW for 2026; Q3 2026 module sales expected 3.9–4.5 GW, adjusted EBITDA $625–$775 million.
Guidance assumes current U.S. policy environment and continued Section 45X credit benefits through 2032.
Priorities include disciplined execution, technology advancement, and prudent capital management.
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