Finding the best solar stock picks to outperform the market in 2024 will require careful consideration. However, a few needle-in-the-hystack companies stand out among their competitors. The clean energy economy has been in a major slump for the past 12-18 months due to the advent of inflation and higher interest rates. These two factors have weakened demand as a slowdown in construction activity persists. However, the solar industry still has small pockets of growth led by a few industry players that operat ...

First Solar's position in the market isn't as strong as it once was.The one solar energy company that's been insulated from the downturn in the market has been First Solar (FSLR 1.38%), and it's done so by being focused on unique technology and the utility-scale market. But the dynamics that have insulated First Solar are starting to shift, which Travis Hoium covers in this video.*Stock prices used were end-of-day prices of April 4, 2024. The video was published on May 6, 2024. ...

Key TakeawaysFirst solar shares will be in the spotlight again Monday after the company broke out from a key chart pattern on Friday after a soft April jobs report fueled hopes that sooner-than-expected interest rate cuts would reignite consumer appetite within the solar sector.Lower borrowing costs make solar energy product installations more affordable for a broader range of customers, potentially helping to boost demand.The First Solar share price broke out from a pennant chart pattern on Friday but may ...

Key PointsAs First Solar stock dips after earnings, investors may now have an even better entry into this alternative energy play.With rising oil prices, solar energy demand could increase, pushing First Solar's backlog sooner. Analysts see double-digit upside and 55% EPS growth this year.5 stocks we like better than Daqo New EnergySolar energy stocks haven’t been part of the market hype, which rallied to all-time highs in the past quarter after potentially pricing in the Federal Reserve’s (the Fed) interes ...

Financial Data and Key Metrics Changes - First Solar reported earnings per diluted share of $2.20 for Q1 2024, with a net cash balance of $1.4 billion at quarter-end [13][22][23] - Net sales for Q1 2024 were $794 million, a decrease of $365 million compared to the previous quarter, primarily due to seasonal reductions in module sales volume [20][22] - Gross margin improved to 44% in Q1 2024 from 43% in Q4 2023, driven by a higher mix of modules sold from U.S. factories [20][22] Business Line Data and Key Metrics Changes - First Solar achieved record production of 3.6 gigawatts of modules in Q1 2024, reflecting a strong focus on manufacturing excellence [12][20] - The total contracted backlog stood at 78.3 gigawatts with an aggregate value of $23.4 billion, implying an average selling price (ASP) of approximately $0.299 per watt [15][17] Market Data and Key Metrics Changes - The average capacity utilization rate for large Chinese solar manufacturing facilities was reported at a record-low 23% in February 2024, contrasting with First Solar's near nameplate capacity operations [9][10] - Demand expectations are increasing, particularly driven by data center load growth, with U.S. data center power consumption projected to reach 35 gigawatts annually by 2030 [19] Company Strategy and Development Direction - First Solar is focused on long-term growth through investments in R&D, including a new innovation center and a perovskite development line, with a combined investment of nearly $0.5 billion [9][14] - The company aims to exit 2024 with over 21 gigawatts of global nameplate capacity and over 25 gigawatts by 2026, with more than half of this capacity located in the U.S. [14][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the heightened volatility in the solar manufacturing industry due to structural overcapacity in China, emphasizing the importance of their differentiated technology and business model [7][10] - The company remains optimistic about future pricing dynamics and demand, particularly in light of supportive policy changes and increasing engagement with customers [52][53] Other Important Information - First Solar is increasing its capital expenditures forecast by $0.1 billion to accelerate the CuRe conversion at its facilities, aiming for a more than one-year advancement in global fleet replication [24][46] - The company is actively involved in addressing unfair trade practices in the solar industry, having joined an alliance to file antidumping and countervailing petitions [31][40] Q&A Session Summary Question: Pricing dynamics in India post-ALMM implementation - Management noted a 5% to 10% increase in pricing in India since the ALMM was reinstated, with expectations for further improvements as the year progresses [49][50] Question: Expectations for bookings growth amid policy changes - Management indicated that while bookings growth was expected to slow, recent policy developments and market pricing changes have created a more constructive environment, leading to increased engagement with customers [51][52][53] Question: Impact of termination for convenience clauses on guidance - Management stated that while they have not provided a specific number related to potential terminations, they are maintaining their volume sold guidance and believe they can manage any impacts [56][57] Question: Future pricing expectations and data center demand - Management expressed optimism about pricing moving into the mid- to high $0.30 per watt range, driven by increased demand from data centers and corporate customers [63][64][67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Commission file number: 001-33156 First Solar, Inc. (Exact name of registrant as specified in its charter) Delaware 20-4623678 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 350 West Washington Street, Suite 600 Tempe, Arizona 852 ...

EXHIBIT 99.1 News Release First Solar, Inc. Announces First Quarter 2024 Financial Results TEMPE, Ariz., May 1, 2024 – First Solar, Inc. (Nasdaq: FSLR) (the "Company") today announced financial results for the first quarter ended March 31, 2024. Net sales for the first quarter were $794 million, a decrease of $0.4 billion from the prior quarter. The decrease was primarily driven by an expected historical seasonal reduction in volume of modules sold. The Company reported first quarter net income per diluted ...

First Solar, Inc. (FSLR) is slated to report first-quarter 2024 results on May 1, after the closing bell.In the last reported quarter, the company delivered an earnings surprise of 1.88%. First Solar has a trailing four-quarter average earnings surprise of 14.16%. Factors to NoteThanks to the higher sales volume of its modules, particularly higher net sales of Series 7 modules, backed by ramped-up production rate at FSLR’s new facility in Ohio, are also likely to have boosted the company’s overall top line ...

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Workers check photovoltaic panels before packing at the New Material 800MW high-efficiency photovoltaic module production line in Zhangye city, Gansu province, China, April 16, 2024.A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry.First Solar and six other manufacturers allege that companies in C ...