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Aerial view of solar power station and solar energy panels
Aerial view of solar power station and solar energy panels

First Solar shines after Q2 beat and brighter full-year outlook

The solar panel developer boosted guidance, even as the clock runs out for clean energy tax credits.

Nia Warfield

First Solar shares surged nearly 7%, helping lead the S&P 500, after the solar panel maker beat Q2 estimates on Thursday and turned up its full-year outlook.

Adjusted earnings clocked in at $3.18 per share, blowing past Wall Street’s $2.66 forecast and the company’s own range of $2.00 to $3.00. Revenue also beat expectations, rising to $1.09 billion versus the $1.04 billion analysts were looking for.

First Solar raised its full-year sales forecast to $4.5 billion to $5.5 billion, up from $4.9 billion to $5.0 billion. The company also hiked its expected volume sold to 16.7 gigawatts to 19.3 gigawatts, up from 15.5 GW to 19.3 GW.

Zooming out, solar and renewables have been under pressure as the Trump administration walks back some clean energy investments and sets a year-end deadline for claiming federal solar panel tax credits before they go away for good.

First Solar thinks it can outshine the noise:

“We believe that on a fundamental basis, with its cost-competitive energy and faster time-to-power profile, the case for utility-scale solar generation is compelling regardless of the policy environment,” CEO Mark Widmar said in a statement. “That places First Solar, a utility-scale leader, in a position of strength.”

After the earnings pop, First Solar shares are now flat on the year.

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Server stocks are rallying as Dell, Super Micro Computer, and Hewlett Packard Enterprise ride the momentum of Hong Kong-based Lenovo. The PC maker’s stock rose 19% on Friday, hitting an all-time high, on record Q4 earnings.

Powering the positive earnings report was the company’s AI-related revenue, which grew 84% in the fourth quarter and now makes up over a third of total revenue. Investors seem to think the increased demand for servers could have trickle-down effects for other companies.

“The company’s results and commentary reinforced the outlook for strong AI-infrastructure demand while indicating resilient broader traditional server and storage spending,” wrote Woo Jin Ho, a senior technology analyst at Bloomberg Intelligence. “Lenovo’s $21 billion AI-server pipeline and remarks that demand is outpacing supply support Dell’s AI-demand momentum and point to robust orders.”

AI’s insatiable computing demand is reshaping the hardware industry and driving up server demand.

Dell will report first-quarter earnings on Thursday, May 28.

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Ross Stores surges as Q1 results beat expectations, full-year guidance raised

Ross shares are rising after the company delivered strong Q1 results, with sales topping Wall Street’s projections.

The stock soared 6.3% just after the open.

Key numbers:

  • Earnings per share of $2.02 vs. $1.47 year over year (estimate: $1.72).

  • Sales of $6.01 billion, up 21% year over year (estimate: $5.61 billion).

  • Comparable sales growth of 17% (estimate: 8.58%).

CEO Jim Conroy attributed the results to better traffic in stores. “Customer traffic was the primary driver of the strong sales trend as compelling merchandise assortments, higher customer acquisition and engagement from our ongoing marketing initiatives, and an improved in‑store experience are resonating with shoppers.”

The company also noted that transaction volume grew across all key demographics, including “income levels, ethnicities, and age groups, including younger customers.” Sales were also likely buoyed by standard seasonal tailwinds, including consumer spending from tax refunds.

Backed by the strong quarter, the company lifted its full-year targets. Ross now projects same-store sales growth of 6% to 7%, up from the prior forecast of 3% to 4%, topping Wall Street’s estimate of 4.64%. It boosted its annual EPS guidance to a range of $7.50 to $7.74, versus the prior outlook of $7.02 to $7.36.

Ross Stores has been one of the retail sector’s standout performers this year, rising around 20% year to date as of Thursday’s close.

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