First Solar Inc. (NASDAQ: FSLR) is set to report its fourth-quarter financial results next week. Thomson Reuters has consensus estimates of $0.76 in earnings per share (EPS) and $1.28 billion in revenue. However, following the deal that Apple Inc. (NASDAQ: AAPL) just inked with First Solar, we might expect some raised guidance and a new outlook in this coming report.

In the deal, Apple committed $848 million to purchase clean energy from First Solar’s California Flats Solar Project. Apple will receive 130 megawatts (MW) of the solar project under a 25-year power-purchase agreement. This is the largest agreement in the industry to provide clean energy to a commercial end user.

The California Flats Solar Project covers 2,900 acres and occupies 3% of a property owned by Hearst Corporation. The construction is expected to begin in mid-2015 and to be completed by the end of 2016. The remaining output of 150 MW of the project will be sold to PG&E Corp. (NYSE: PCG) under a separate agreement. The project is fully subscribed between the Apple and PG&E power-purchase agreements.

This deal marks the first wholesale commercial and industrial power-purchase agreement executed by First Solar.

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For reference, this deal alone is worth roughly one-sixth of First Solar’s market cap of $4.9 billion.

Last March, the outlook given for 2014 was for net sales of $3.7 billion to $4.0 billion, versus a Thomson Reuters consensus estimate of $3.77 billion. The solar giant put its consolidated gross margin targets in a range of 16% to 18%. The company’s EPS target was put in a range of $2.20 to $2.60 per share, versus consensus estimates of $3.21 per share. It was not clear whether there are items in the 2014 earnings guidance. However, for 2015 we can expect this fat deal to push analyst estimates and company guidance up even further. The consensus estimates for 2015 are $4.52 in EPS and $4.19 billion in revenue.

Shares of First Solar were up 1% at $48.96 following Friday’s opening bell. The stock has a consensus analyst price target of $59.00 and a 52-week trading range of $39.18 to $74.84.

Apple shares were relatively flat at $128.55. The consensus price target is $133.76, and the 52-week trading range is $73.05 to $129.03.

ALSO READ: Apple’s Big Move Into Solar Energy

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