First Solar (FSLR) Tops Q2 EPS by 14c, Raises Guidance

First Solar (NASDAQ: FSLR) reported Q2 EPS of $0.64, $0.14 better than the analyst estimate of $0.50. Revenue for the quarter came in at $623.33 million versus the consensus estimate of $556.37 million.

GUIDANCE:

First Solar sees FY 2017 EPS of $2.00-$2.50, prior was for $0.25-$0.75.

“We executed well in the second quarter with solid non-GAAP earnings of $0.64, record quarterly shipments of nearly 900MWdc and bookings of 1.5GWdc since our last earnings call,” said Mark Widmar, CEO of First Solar. “We are encouraged by the continuing strong demand for our Series 4 product and are focused on meeting our customers’ current needs. At the same time, our efforts to ensure the manufacturing and market readiness of Series 6 remains our highest priority. With the first Series 6 equipment being installed at our Ohio factory, and an increasing number of mid-to-late stage Series 6 bookings opportunities, we are pleased with our progress thus far.”

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

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