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Mar 31, 2020
First Solar Q1 2020 Earnings Report
Reported a net sales of $532 million and net income per share of $0.85.
Key Takeaways
First Solar announced first quarter 2020 financial results, reporting net sales of $532 million and net income per share of $0.85. The company withdrew its previous full-year 2020 financial and operational guidance but issued updated guidance for module production, operating expenses, and capital expenditures.
Net sales were $532 million.
Net income per share was $0.85.
Cash, restricted cash, and marketable securities totaled $1.6 billion.
Bookings of 1.1 GWDC since the prior earnings call, including 0.7 GWDC of systems bookings.
First Solar
First Solar
Forward Guidance
The Company is providing limited guidance that it believes is largely within its control at this time, including module production of 5.9 GWDC, operating expenses between $340 to $360 million, and capital expenditures between $450 to $550 million.
Positive Outlook
- Module production: 5.9 GWDC, including 5.7 GWDC of Series 6 and 0.2 GWDC of Series 4
- Operating expenses: $340 to $360 million (including $50 to $60 million of start-up expenses)
- Capital expenditures: $450 to $550 million