FSLR - First Solar GAAP EPS of -$0.07 beats by $0.06 revenue of $1B in-line
- First Solar press release ( NASDAQ: FSLR ): Q4 GAAP EPS of -$0.07 beats by $0.06 .
- Revenue of $1B (+10.2% Y/Y) in-line.
- Forecasted net sales for 2023 are $3.4 billion to $3.6 billion consensus of $3.38B
- Operating income is forecasted to be $745 million to $870 million, which includes production start-up expense of $85 million to $90 million, ramp costs related to expansion projects and underutilization costs related to factory upgrades of $110 million to $130 million, and Inflation Reduction Act Section 45X tax credits of $660 million to $710 million.
- Forecasted net income per diluted share is $7.00 to $8.00 vs. consensus of $5.56
- The year-end 2023 net cash balance is projected to be in the range of $1.2 billion to $1.5 billion.
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First Solar GAAP EPS of -$0.07 beats by $0.06, revenue of $1B in-line