UBS Cuts First Solar (FSLR) to Sell; Sees Further Risk to Expectations

First Solar, Inc. Announces Acceleration of Series 6 Solar Module Production to 2018; Restructures Operations; Updates 2016 Guidance & Provides 2017 Guidance

Approximately 3 Gigawatts of Series 6 Production Expected in 2019 Series 4 Production to be Phased Out; Series 5 Product Cancelled 2016 Restructuring and Asset Impairment Charges of $500 to $700 million, Primarily Non-Cash 2016 GAAP EPS Guidance Revised to a Loss of ($4.00) to ($2.00) 2016 Non-GAAP EPS Guidance Raised by $0.30 to $4.60 to $4.80 2017 GAAP EPS Guidance of ($0.10) to $0.45 ; Non-GAAP EPS of Breakeven to $0.50 2017 Operating Cash Guidance of $550 to $650 million; Ending Net Cash of $1.4 to $1.6 Billion... More