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Dec 31, 2022
First Solar Q4 2022 Earnings Report
First Solar reported a net sales of $1.0 billion and a net loss per diluted share of $0.07 for the fourth quarter of 2022.
Key Takeaways
First Solar announced its Q4 and full year 2022 financial results, reporting Q4 net sales of $1.0 billion and a net loss per diluted share of $0.07. The company's year-end net cash balance reached $2.4 billion, and they have secured 12 GWDC in net bookings since the third quarter earnings call.
Net sales for Q4 2022 were $1.0 billion.
Net loss per diluted share for Q4 2022 was $0.07.
Year-end 2022 net cash balance was $2.4 billion.
48.3 GWDC of 2022 net bookings, with 12 GWDC since the third quarter earnings call.
Forward Guidance
First Solar provides 2023 guidance with net sales expected between $3.4 billion and $3.6 billion and EPS between $7.00 and $8.00.
Positive Outlook
- Net Sales: $3.4B to $3.6B
- Gross Margin: $1.2B to $1.3B
- Operating Income: $745M to $870M
- Earnings per Diluted Share: $7.00 to $8.00
- Net Cash Balance: $1.2B to $1.5B
Challenges Ahead
- Includes $110 million to $130 million of ramp and underutilization costs
- Includes $660 million to $710 million of Section 45X tax credits
- Operating Expenses: $415M to $440M
- Includes $85 million to $90 million of production start-up expense
- Capital Expenditures: $1.9B to $2.1B
Historical Earnings Impact
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Avg. Return Before/After Earnings
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