FSLR - First Solar moves higher after upside full-year earnings revenue guidance
First Solar ( NASDAQ: FSLR ) +3.4% post-market Tuesday after reporting a smaller than forecast Q4 adjusted loss and guiding FY 2023 earnings and revenues above consensus.
The company reported a Q4 net loss of $0.07/share on net sales of ~$1B, up $400K from Q3, primarily due to increased module sales and the sale of its Luz del Norte project in Chile in Q4.
First Solar ( FSLR ) said it amassed 48.3 GW of net bookings in FY 2022, including 12 GW since the Q3 earnings call.
The company provided upside guidance for FY 2023, seeing EPS of $7.00-$8.00 well above $5.56 analyst consensus estimate, on revenues of $3.4B-$3.6B compared with $3.38B consensus, as well as full-year sales volumes of 11.8-12.3 GW.
First Solar ( FSLR ) foresees FY 023 operating income of $745M-$870M, including production start-up expense of $85M-$90M, ramp costs related to expansion projects and underutilization costs related to factory upgrades of $110M-$130M, and Inflation Reduction Act Section 45X tax credits of $660M-$710M.
First Solar ( FSLR ) shares have gained 16% so far this year and 124% during the past 12 months .
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First Solar moves higher after upside full-year earnings, revenue guidance