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Jun 30, 2020
First Solar Q2 2020 Earnings Report
Reported solid financial results driven by strong operational performance.
Key Takeaways
First Solar announced second quarter results with net sales of $642 million and net income per share of $0.35. The company's cash, restricted cash, and marketable securities totaled $1.6 billion.
Net sales were $642 million.
Net income per share was $0.35.
Cash, restricted cash, and marketable securities totaled $1.6 billion, with net cash of $1.2 billion.
Bookings reached 0.8 GWDC since the prior earnings call, including 0.5 GWDC of systems bookings.
First Solar
First Solar
Forward Guidance
First Solar provided limited guidance for the full year 2020.
Positive Outlook
- Module production: 5.9 GWDC, including 5.7 GWDC of Series 6 and 0.2 GWDC of Series 4
Challenges Ahead
- Operating expenses: $345 to $365 million (including $45 to $55 million of start-up expenses)
- Capital expenditures: $450 to $550 million