First Solar guided its full-year 2014 EPS higher, from a range of $2.20 to $2.60 to a new range of $2.40 to $2.80, compared with a consensus estimate of $2.49. The company also raised its estimate of operating income from a range of $270 to $320 million to a new range of $290 to $340 million. Operating margin is expected in a range of 17% to 18%.
As opposed to its report at the end of the prior quarter, First Solar had nothing but good news to promote today. The company gives only a little detail in its press release, so we’ll have to wait for the conference call for more details, but this looks like a solid rebound from what the company said just a few months ago.
The company’s CEO said:
We delivered strong earnings in the first quarter and are increasing our financial guidance for the year based on these results. We have also made significant progress in new bookings and continue to execute on our technology roadmap.
Shares are up about 4.5% in after-hours trading at $70.45 in a 52-week range of $35.59 to $74.84. Thomson Reuters had a consensus analyst price target of around $63.70 before today’s report.
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