A solar field is seen on site at First Solar in Perrysburg, Ohio July 8, 2022. Picture taken with drone.First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog that stretches into the end of the decade.The stock traded as much as 9% higher on the day. It was last up about 2%.Here's how the company did in the fourth quarter:Net income rose 30% year over year to $349.2 million from $268.3 millionEarnings per share of $3.25 beat ...

Key TakeawaysFirst Solar shares gained in premarket trading Wednesday after the solar panel maker topped analysts' fourth quarter bottom-line estimates and issued better-than-expected full-year earnings guidance.CEO Mark Widmar said the company continues to see strong mid- to long-term demand, especially in the United States.The company expects to receive between $1 billion and $1.05 billion in tax credits this year.First Solar shares may face selling pressure around $174 near the lower trendline of a Wycko ...

First Solar Inc. shares rose about 5% in the extended session Tuesday after investors looked past a mixed quarter for the solar-power company to cheer guidance for the year. First Solar FSLR, +0.28% earned $349 million, or $3.25 a share, in the fourth quarter, compared with $268 million, or $2.50 a share, in the year-ago period. ...

Financial Data and Key Metrics Changes - For Q4 2023, net sales were $1.2 billion, an increase of $0.4 billion compared to the prior quarter, driven by higher volumes sold, particularly Series 7 modules [17] - Full-year 2023 net sales reached $3.3 billion, up from $2.6 billion in 2022, primarily due to a $0.9 billion increase in module net sales [17] - Full-year EPS was $7.74, exceeding the midpoint of initial and Q3 2023 guidance, despite impacts from the sale of Section 45X tax credits and an impairment of investment in CubicPV [8][24] Business Line Data and Key Metrics Changes - The company produced a record 12.1 gigawatts in 2023, a 33% increase over 2022, with Series 6 factories producing 9.7 gigawatts and Series 7 factories contributing over 2.4 gigawatts [8][9] - The total contracted backlog increased to 80.1 gigawatts, with net bookings of 28.3 gigawatts at a base ASP of over $0.30 per watt [7][13] Market Data and Key Metrics Changes - The company added 10 new customers in 2023, with strong mid to long-term demand, particularly in the U.S., evidenced by 2.3 gigawatts of net bookings since the previous earnings call [7] - The average ASP for recent bookings was $31.9 per watt pre-adjuster, indicating a positive pricing trend despite market challenges [13] Company Strategy and Development Direction - The company plans to increase its nameplate capacity to approximately 25 gigawatts by the end of 2026, with significant investments in new manufacturing facilities [11][38] - The focus remains on R&D investments, including a new R&D Innovation Center and a perovskite development line, to enhance technology and product offerings [12][40] Management's Comments on Operating Environment and Future Outlook - Management highlighted challenges from Chinese subsidization and pricing volatility affecting market conditions, particularly in the U.S. and India [28][29] - The company remains optimistic about its strong backlog and ongoing demand, expecting to leverage its differentiated manufacturing model for growth [41][51] Other Important Information - The company completed the sale of approximately $687 million of Section 45X tax credits, with expected cash proceeds of $659 million [18] - The economic impact study indicated that First Solar supported over 16,000 jobs across the U.S. in 2023, with projections of approximately 30,000 jobs by 2026 [34][35] Q&A Session Summary Question: Will bookings near zero in a quarter be a concern for investors? - Management indicated a strategy of patience in bookings, with ongoing commercial conversations for over three gigawatts of bookings in late-stage negotiations [67] Question: What is the outlook for ASPs and bookings? - Management expressed satisfaction with recent bookings and ASPs, emphasizing a focus on maintaining pricing while recognizing ongoing opportunities in both the U.S. and India [68]

First Solar (FSLR) came out with quarterly earnings of $3.25 per share, beating the Zacks Consensus Estimate of $3.19 per share. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.88%. A quarter ago, it was expected that this largest U.S. solar company would post earnings of $2.09 per share when it actually produced earnings of $2.50, delivering a surprise of 19.62%.Over the last four quarters, th ...

The global fight against climate change has fueled a surge in investor interest towards green energy stocks. Companies operating in the renewable energy sector, like wind, solar, hydrogen, electric vehicles (EVs) and energy storage continue to attract increased attention. Tesla (NASDAQ:TSLA) has been a big proponent of this interest, as the company has far outpaced the S&P 500 over the last decade. Now, a new wave of investors who seek to contribute to a greener future possess the potential to benefit from ...

First Solar Q4'23 Earnings and 2024 Guidance Call February 27, 2024 | Important Information Cautionary Note Regarding Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this presentation, other than statements of historical fact, are forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: demand ...

Financial Performance - Fourth quarter net sales reached $1.2 billion, a $0.4 billion increase from the prior quarter, while full year net sales for 2023 totaled $3.3 billion, up from $2.6 billion in 2022[2][5] - Fourth quarter net income per diluted share was $3.25, and full year net income per diluted share was $7.74[3][5] - Gross profit for the year ended December 31, 2023, was $1,300,679, compared to $69,858 in 2022, indicating a significant improvement[16] - Operating income for Q4 2023 was $397,784, compared to a loss of $(45,906) in Q4 2022, reflecting a strong turnaround[16] - Net income for the year ended December 31, 2023, was $830,777, a substantial recovery from a loss of $(44,166) in 2022[19] - Cash provided by operating activities for the year 2023 was $602,260, down from $873,369 in 2022, indicating a decrease in cash flow[19] - The company reported a net cash increase of $471,607 for the year 2023, compared to $37,625 in 2022[19] - Interest income for the year 2023 was $97,667, significantly higher than $33,284 in 2022, indicating improved financial performance[16] Future Projections - 2024 net sales guidance is projected to be between $4.4 billion and $4.6 billion, with earnings per diluted share expected to be between $13.00 and $14.00[6][5] - Forecasted operating income for 2024 is estimated to be between $1.5 billion and $1.6 billion, including production start-up expenses of $85 million to $95 million[6][5] - Volume sold in 2024 is expected to be between 15.6 GW and 16.3 GW[6][5] Cash and Investments - Year-end net cash balance increased to $1.6 billion from $1.3 billion at the end of the prior quarter, primarily due to operating cash flows[4][5] - The company had cash, cash equivalents, and restricted cash of $1,965,069 at the end of 2023, up from $1,493,462 at the end of 2022[19] - The company plans to invest $1.7 billion to $1.9 billion in capital expenditures in 2024[6][5] Research and Development - Increased research and development investment is aimed at evolving technology and product roadmap, enhancing competitiveness in the solar market[5] - Research and development expenses for the year 2023 totaled $152,307, up from $112,804 in 2022, highlighting a focus on innovation[16] Sales and Bookings - The company achieved net bookings of 28.3 GW in 2023, with 2.3 GW booked since the third quarter earnings call at a base average selling price of 31.8 cents per watt[5] - Net sales for Q4 2023 reached $1,158,553, a 44.7% increase from $801,090 in Q3 2023 and a 15.6% increase from $1,002,391 in Q4 2022[16] Manufacturing and Capacity Expansion - First Solar is expanding manufacturing capacity with new facilities in Louisiana, Alabama, Ohio, and India, contributing to long-term growth strategy[5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) Commission file number: 001-33156 First Solar, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Delaware 20-4623678 350 West Washington Street, Suite 600 None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check ...

First Solar, Inc. (FSLR) is slated to report fourth-quarter and full-year 2023 results on Feb 27, after the closing bell.In the last reported quarter, the company delivered an earnings surprise of 19.62%. First Solar has a trailing four-quarter average earnings surprise of 28.97%.  Factors to NoteThanks to solid contracts won by First Solar in the prior quarters, increased contract revenues must have bolstered its fourth-quarter sales. Ramp up in production of its Series 7 modules, backed by solid demand, a ...