First Solar (FSLR) Misses Q1, Raises Outlook

First Solar (NASDAQ: FSLR) reported Q1 EPS of ($0.64), $0.51 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $532 million versus the consensus estimate of $608.72 million.

“During the first quarter of 2019 we continued to realize advancements in Series 6 throughput and efficiency and we are particularly pleased with the start-up and ongoing ramp of our second facility in Vietnam,” said Mark Widmar, CEO of First Solar. “Series 6 demand remains robust, and we are encouraged by the strong year-to-date bookings which are on track to exceed our targeted annual bookings-to-shipments ratio.”

GUIDANCE:

First Solar sees FY2019 EPS of $2.25-$2.75, versus the consensus of $2.49. First Solar sees FY2019 revenue of $3.5-3.7 billion, versus prior of $3.25-$3.45 billion and the consensus of $3.36 billion.

For earnings history and earnings-related data on First Solar (FSLR) click here.

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