First Solar Q4 2024 Earnings Report

First Solar reported strong revenue growth, higher module sales, and solid earnings in Q4 2024.

Key Takeaways

First Solar achieved net sales of $1.5 billion in Q4 2024, driven by increased module sales. The company reported net income of $393.1 million, with EPS of $3.65. Cash and cash equivalents stood at $1.6 billion at year-end.

Net sales increased to $1.5 billion, driven by higher module sales.

Net income was $393.1 million, with EPS of $3.65.

The company maintained a net cash balance of $1.2 billion.

Module production and shipment volumes reached record levels.

Total Revenue

$1.51B

Previous year: $1.16B

+30.6%

EPS

$3.65

Previous year: $3.25

+12.3%

MW Produced

4.4K

Previous year: 3.59B

-100.0%

Gross Profit

$568M

Previous year: $502M

+13.1%

Cash and Equivalents

$1.62B

Previous year: $2.1B

-22.9%

Total Assets

$12.1B

Previous year: $10.4B

+17.0%

First Solar Revenue

First Solar EPS

First Solar Revenue by Segment

First Solar Revenue by Geographic Location

Forward Guidance

First Solar anticipates continued growth in 2025 with a focus on capacity expansion and innovation.

Positive Outlook

Net sales projected to range between $5.3 billion and $5.8 billion.
Earnings per share guidance of $17.00 to $20.00.
Operating income forecasted at $1.95 billion to $2.30 billion.
Increased volume sales projected between 18GW and 20GW.
Capital expenditures expected to support growth in Alabama and Louisiana.

Challenges Ahead

Potential impact from production start-up expenses.
Ongoing ramp-up and underutilization costs.
Cost pressures from supply chain disruptions.
Uncertainty in global market demand.
Potential volatility in Section 45X tax credit revenue.