First Solar, Inc. is a leading American solar technology company and global provider of photovoltaic (PV) solar energy solutions. They manufacture and sell PV solar modules using an advanced thin film semiconductor technology. The company is the world's largest thin film PV solar module manufacturer and the largest PV solar module manufacturer in the Western Hemisphere. They are committed to reducing environmental impacts and enhancing social and economic benefits of their products across their life cycle, from raw material sourcing through end-of-life module recycling. The company believes its strategies and points of differentiation provide the foundation for its competitive position and enable it to remain one of the preferred providers of PV solar modules.

• Employees: 6,700 (as of December 31, 2023)
• Geographic Footprint: United States, Malaysia, Vietnam, and India
• Headquarters: Tempe, Arizona
• Founded: Not available
• Number of locations/facilities: Includes manufacturing facilities in the United States, Malaysia, Vietnam, and India
• Revenue: $3.3 billion (FY2023)
• Market Share: Not available
• Key Subsidiaries/Brands: Not available

• CEO: Mark R. Widmar
• CFO: Alexander R. Bradley
• Chief Commercial Officer: Georges Antoun
• Chief Supply Chain Officer: Michael Koralewski
• Chief Manufacturing Officer: Kuntal Kumar Verma
• Chief Product Officer: Patrick Buehler
• Chief Technology Officer: Markus Gloeckler
• Chief People and Communications Officer: Caroline Stockdale
• General Counsel and Secretary: Jason Dymbort

Key leaders have extensive experience in their respective fields, with many having served in leadership positions at First Solar for several years.

• Annual Revenue: $3.3 billion (FY2023)
• Net Income: $830.8 million
• Market Cap: $20.2 billion (as of June 30, 2023)
• Total Assets: $10.4 billion
• Number of Employees: 6,700 (as of December 31, 2023)
• Key Financial Highlights: Net sales increased by 27%, gross profit increased to 39.2% from 2.7% in 2022, and the company recognized a benefit to cost of sales of $659.7 million from the advanced manufacturing production credit under Section 45X of the IRC.

First Solar is primarily engaged in the design, manufacture, and sale of CdTe solar modules, which convert sunlight into electricity.

• CdTe Solar Modules: Advanced thin film semiconductor technology that provides a high-performance, lower-carbon alternative to conventional crystalline silicon PV solar modules. Their modules are warranted to produce at least 98% of their labeled power output rating during the first year, with a degradation factor of 0.3% to 0.5% each year thereafter.

The company's primary segment is its modules business, which involves the design, manufacture, and sale of CdTe solar modules. The company also has residual business operations which include certain project development activities, O&M services, the results of operations from PV solar power systems they owned and operated in certain international regions, and the sale of such systems to third-party customers.

• Modules: $3.3 billion in net sales (FY2023)
• Other: $21.8 million in net sales (FY2023)

First Solar's current strategic priorities include expanding manufacturing capacity worldwide, including plans to construct new manufacturing facilities in the United States, and continuing to improve the wattage and energy yield of their solar modules. They focus on continuous innovation and cost reduction, with a commitment to sustainability and reducing their carbon footprint. They are also focused on creating long-term shareholder value through a decision-making framework that delivers a balance of growth, profitability, and liquidity.

• Key strategic initiatives include expanding manufacturing capacity, improving module technology, and reducing costs.
• Growth drivers include increasing global demand for electricity and government support programs for renewable energy.
• Investment priorities include expanding manufacturing capacity, research and development, and strategic acquisitions.

First Solar operates in the highly competitive solar energy and renewable energy sectors. Their primary source of competition is crystalline silicon module manufacturers, the majority of which are linked to China. The solar industry may experience periods of structural imbalance between global PV module supply and demand that result in periods of pricing volatility. The company also competes on its approach to responsible sourcing and supply chain due diligence.

• Market Position: World's largest thin film PV solar module manufacturer and the largest PV solar module manufacturer in the Western Hemisphere.
• Key Competitors: Crystalline silicon module manufacturers, particularly those linked to China.
• Industry Trends: Increasing demand for renewable energy, government support programs, and technological advancements in solar module efficiency and cost reduction.

• Market Risks: Intense competition in solar markets globally, potential for pricing volatility, and impact of government subsidies and trade policies.
• Operational Risks: Potential for manufacturing delays, supply chain disruptions, product quality issues, and failure to effectively manage manufacturing costs.
• Financial Risks: Dependence on customer financing, potential for increased interest rates, and the impact of currency fluctuations.
• Regulatory Risks: Changes in regulations and policies, trade barriers, and anti-bribery laws.
• Technological Risks: Failure to further refine technology and develop improved PV products, and competition from new or differentiated technological solutions.