Feb 25 (Reuters) - Shares of First Solar ( FSLR ) slumped 16.7% in premarket trading on Wednesday, after the company forecast annual sales below Wall Street expectations amid U.S. policy environment uncertainty ​and permitting delays under the Trump ‌administration.

The solar panel maker on Tuesday said it expects 2026 net sales to be ⁠in the range of $4.9 billion to $5.2 billion, compared with analysts' ⁠average estimate of $6 billion, according to data compiled ‌by LSEG.

The solar ‌industry faces tariff pressures and a freeze on approvals for major projects under the ​current administration, as part of ‌an agenda focused on oil, gas, coal and nuclear, diverging from Joe Biden's green energy policies.

First Solar ( FSLR ) executives ​said in a post-earnings call ​on Tuesday ‌that the company expects a total tariff impact of $125 million to $135 million this year.

RBC Capital Markets analyst Christopher Dendrinos ⁠said the 2026 outlook is below expectations on incremental curtailment ⁠activity, but sees this as a clearing event that positions the company for a volume recovery next year, assuming no additional tariffs are imposed.

The company added the demand for its Series ⁠6 ‌solar module, designed for utility-scale solar plants and ‌produced in Malaysia and Vietnam, remains constrained.

To address this, First Solar ( FSLR ) ⁠will open a new U.S. finishing line in South Carolina, expected to begin production in the fourth quarter, which will utilize a portion of the front end of these Southeast Asian facilities.

The company expects the move would optimize freight, tariffs and domestic content for the sale of ​incremental products into the U.S. domestic market.

"First Solar ( FSLR ) is well understood to be a 2027 story with several positive catalysts on ​the way," said Citi analyst ‌Vikram Bagri.