First Solar Business Summary

First Solar, Inc. (FSLR) is the premier U.S.-based manufacturer of advanced thin-film photovoltaic (PV) modules, distinguished by its proprietary Cadmium Telluride (CdTe) semiconductor technology. The company’s revenue model centers on the high-volume production and sale of Series 6 and Series 7 modules to utility-scale developers and independent power producers, supplemented by the strategic monetization of Section 45X production tax credits under the Inflation Reduction Act. As of March 2026, the company is navigating a strategic transition with annual revenue guidance of $4.9 billion to $5.2 billion, reflecting a focus on domestic manufacturing expansion and the commercialization of next-generation CuRe and perovskite-enhanced technologies. First Solar competes directly with crystalline silicon giants such as JinkoSolar, Canadian Solar, and Hanwha Q CELLS, maintaining a distinct market position through its vertically integrated, non-silicon supply chain and superior performance in high-temperature environments. Founded in 1999 by inventor Harold McMaster and long-time Chairman Mike Ahearn, First Solar is led by Chief Executive Officer Mark Widmar, who has steered the firm’s strategic pivot toward large-format module technology since 2016. The executive leadership team includes Chief Financial Officer Alexander Bradley, who manages the company’s multi-billion dollar capital allocation and tax credit monetization strategies, and Chief Technology Officer Markus Gloeckler, a veteran scientist responsible for the company's thin-film efficiency breakthroughs. Operational execution is supported by Chief Commercial Officer Georges Antoun and Chief Manufacturing Officer Kuntal Kumar Verma. The company’s capital structure is characterized by high institutional ownership, with Vanguard Group and BlackRock serving as anchor shareholders, alongside historical backing from the Walton family’s Madrone Capital Partners.