THIS STORY HAS BEEN UPDATED AFTER THE COMPANY OFFERED GUIDANCE & SUPPLY PACT DATA.  THE FULL STORY CAN BE SEEN HERE: 

First Solar Saves The Solar Power Sector (FSLR, SPWRA, STP, LDK, CSIQ, SOLR, ESLR)

First Solar, Inc. (NASDAQ: FSLR) posted earnings of $1.20 per share on$348.69 million in revenue.  First Call had estimates for this quarterof $1.01 per share and $339.29 million in revenue.

If the company offers guidance in its conference call, its nextquarter’s estimates are $1.23 EPS and $409.27 million in revenue,and Fiscal DEC-2009 estimates are $6.71 EPS and $2.13 billion inrevenue. 

If the company’s targets are met for 2008 at $3.68 EPS and $1.21billion in revenue, First Solar will trade at 32.7-times earnings and8.1-times revenues.  So this is still trading at much higher multiplesthan many growth stocks, but it is no longer at levels which cannot besustained.

Shares closed up almost 1.5% at $115.75 and shares are floating up anddown between positive and negative right after the earnings.

Jon C. Ogg
October 29, 2008

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.