FSLR · 10-Q · 2026Q3 · Full report

Operating Expense Trends

FIRST SOLAR, INC. · 2026-10-29 · Importance 40 · Surprise 56 · In source text

Selling, general and administrative expense increased 19.3% to $182.604 million for the nine months ended September 30, 2026, from $153.078 million in 2025; three-month expense rose 38.0% to $65.326 million. Higher litigation-related legal costs drove the increase in both periods, and higher incentive compensation costs also contributed to the nine-month increase. SG&A was 5.5% of net sales for the nine-month period, compared with 4.3% a year earlier.

Key facts

• Selling, general and administrative expense for the three months ended September 30, 2026 was $65.326 million, up $18.002 million, or 38.0%, from $47.324 million in 2025. source
• Selling, general and administrative expense for the nine months ended September 30, 2026 was $182.604 million, up $29.526 million, or 19.3%, from $153.078 million in 2025. source
• SG&A expense as a percentage of net sales was 5.3% for the three months ended September 30, 2026 versus 3.0% in 2025, and 5.5% for the nine months versus 4.3% in 2025. source
• SG&A expense increased in the three months ended September 30, 2026 primarily because of legal costs associated with litigation activities. source
• SG&A expense increased in the nine months ended September 30, 2026 primarily because of higher litigation-related legal costs and higher incentive compensation costs. source

Impact estimates