First Solar (FSLR) Reports Q3 EPS of $3.38

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October 29, 2015 4:20 PM EDT

First Solar (NASDAQ: FSLR) reported Q3 EPS of $3.38, may not compare to the analyst estimate of $1.55. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.11 billion.

“We had tremendous execution in the third quarter from both a financial and bookings perspective,” said Jim Hughes, CEO of First Solar. “We have now exceeded our book-to-bill target for the year, booked over 1GWdc of volume with deliveries after 2016, achieved strong quarterly earnings and have significantly raised our full year earnings guidance. We remain confident in our long term strategy and our ability to execute successfully.”

First Solar sees FY2015 EPS of $4.30-$4.50, may not compare to the consensus of $3.43.

2015 Guidance Update Prior Current
Net Sales $3.5B to $3.6B Unchanged
Gross Margin %1 21% to 22% 24% to 25%
Operating Expenses1 $415M to $425M

$395M to $405M

Operating Income1 $330M to $370M $450M to $490M
Effective Tax Rate4 2% to 5% 4% to 6%
Earnings per Share1,4 $3.30 to $3.60 $4.30 to $4.50
Net Cash Balance2, 4 $1.2B to $1.4B $1.3B to $1.4B
Capital Expenditures $175M to $200M Unchanged
Working Capital3 $1.1B to $1.3B $1.1B to $1.2B
Shipments 2.8GW to 2.9GW Unchanged

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


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