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Sep 30, 2020
First Solar Q3 2020 Earnings Report
Reported strong financial results driven by international project sales and increased module volume.
Key Takeaways
First Solar announced strong financial results for Q3 2020, with net sales of $928 million and net income per share of $1.45. The company's cash, restricted cash, and marketable securities totaled $1.7 billion.
Net sales reached $928 million.
Net income per share was $1.45.
Cash, restricted cash, and marketable securities amounted to $1.7 billion.
1.6 GWDC of bookings since prior earnings call.
First Solar
First Solar
Forward Guidance
First Solar reinstated financial guidance for the fourth quarter 2020, projecting net sales between $540 million and $790 million and earnings per share between $1.00 and $1.50.
Positive Outlook
- Net Sales: $540M to $790M
- Gross Margin %: 26.5% to 27.0%
- Operating Income: $50M to $120M
- Earnings per Share: $1.00 to $1.50
- Net Cash Balance: $1.2B to $1.3B
Challenges Ahead
- Operating Expenses: $90M to $95M
- Capital Expenditures: $123M to $223M
- Shipments: 1.8GW to 2.0GW