First Solar (FSLR) Misses Q2 EPS by 48c, Revenues Miss; Narrows Guidance
First Solar (NASDAQ: FSLR) reported Q2 EPS of ($0.46), $0.48 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $309 million versus the consensus estimate of $503.11 million.
“We have taken another important step forward in our Series 6 transition with the first commercial shipments from our Malaysia factory,” said Mark Widmar, CEO of First Solar. “With two factories now producing Series 6 modules and a third factory on the cusp of starting production we have made significant progress during the past quarter. Customer demand for our Series 6 product continues to be solid with nearly 900 megawatts of new contracts signed since our last earnings update. With year-to-date bookings of 4.1GWDC and total contracted volume of 10.9GWDC that extends to the end of 2020, we continue to have good visibility to future demand.”
GUIDANCE:
First Solar sees FY2018 revenue of $2.5-2.6 million, versus prior of $2.45-$2.65 billion the consensus of $2.52 million.
For earnings history and earnings-related data on First Solar (FSLR) click here.