Energy

First Solar Guidance Lower... Good Enough? (FSLR)

First Solar Inc. (NASDAQ: FSLR) was halted pending earnings.  The U.S. solar leader reported earnings of $1.26 EPS and $660 million in revenues.  Thomson Reuters had estimates of $1.54 EPS and $781.5 million in revenue.  The GAAP loss was $4.78 for the quarter after items.  The solar player ended the quarter with cash and marketable securities of $788 million.

For all of 2012, the company sees sales at $3.5 to $3.8 billion, down from a prior target of $3.7 to $4.0 billion in sales.  The company is maintaining its earnings guidance of $3.75 to $4.24 EPS. Thomson Reuters has estimates of $4.14 EPS and $3.77 billion in sales.

Also for 2012, the company is reducing operating cash flow from $0.9 to $1.1 billion down to a new lower range of $0.8 to $0.9 billion.

Gross margin in the fourth quarter was 35% and that was down from 46% a year earlier.  Get used to that margin compression by our take based upon the competitive environment that the company referred to.

Shares closed up 0.9% at $36.46 against a 52-week trading range of $29.87 to $163.00.

JON C. OGG

Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE

Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

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