First Solar, Inc. (FSLR – Free Report) just released its latest quarterly financial results, posting an adjusted loss of 25 cents per share and net sales of $339 million.
Currently, FSLR is a Zacks Rank #2 (Buy), but that could change based on today’s results. The stock was down 0.42% to $66.00 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted a non-GAAP loss of $0.25 per share, beating the Zacks Consensus Estimate of a loss of $0.32. First Solar’s GAAP results were negatively impacted by the recent U.S. tax reform. On a GAAP basis, the company witnessed a loss of $4.14 per share.
The company saw net sales of $339.2 million. Cash and marketable securities at the end of the fourth quarter increased to $3.0 billion from $2.7 billion at the end of the prior quarter.
“We enter 2018 with an unwavering focus on profitably, scaling our modules business, executing on our systems project portfolio, and delivering on our financial commitments,” said CEO Mark Widmar.
First Solar now expects 2018 revenues in the range of $2.45 billion to $2.65 billion, up from its previously-announced range of $2.3 billion to $2.5 billion. The company also raised its earnings guidance range to $1.50 – $1.90 per share from $1.25 – $1.75 per share.
Here’s a graph that looks at First Solar’s recent earnings performance:
First Solar, Inc. Price, Consensus and EPS Surprise
First Solar, Inc. Price, Consensus and EPS Surprise | First Solar, Inc. Quote
First Solar, Inc. designs and manufactures solar modules with an advanced thin film semiconductor technology that is one of the lowest costs in the world. First Solar objective is to reduce the cost of solar electricity to levels that compete on a non-subsidized basis with the price of retail electricity in key markets throughout the world. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy systems protect and enhance the environment.