On August 1, First Solar rose 5.07% in regular trading, trading at $216.285/share, with turnover of $363 million. The rally was driven by the company's strong Q2 earnings report released after market close on July 30.

First Solar posted Q2 earnings of $3.92 per diluted share, significantly beating the analyst consensus estimate of $2.86 by 37%, and representing a 23% year-over-year increase from $3.18. Revenue came in at $1.056 billion, largely in line with expectations. Net income rose to $422.5 million, driven by increased third-party module shipments. This marks the second consecutive quarter of meaningfully exceeding earnings expectations.

The company maintained full-year revenue guidance of $4.9 billion to $5.2 billion and projected Q3 module shipments of 3.9 to 4.5 GW. Additionally, First Solar disclosed plans for its Steel River Energy Center to deliver 1.9 GWh of battery storage capacity for Google, and announced an expansion of up to 3.5 GW of module finishing capacity at its South Carolina facility for overseas-manufactured semi-finished products.

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