First Solar Q3 2021 Earnings Report

First Solar's Q3 2021 performance was impacted by extended transit times for ocean freight, but the company maintained its EPS guidance for the year.

Key Takeaways

First Solar reported net sales of $584 million and net income per diluted share of $0.42 for Q3 2021. The company produced 2.0 GWDC of modules and increased its top production bin to 465 watts. They also started construction of a third factory in Ohio and began ordering equipment for their first factory in India. The company is reiterating its 2021 EPS guidance.

Net sales reached $584 million.

Net income per diluted share was $0.42.

Cash, cash equivalents, restricted cash, and marketable securities totaled $1.9 billion.

Third quarter production amounted to 2.0 GWDC despite freight and COVID-19 challenges.