Financial Performance - Net sales for Q3 2024 were $0.9 billion, a decrease of $0.1 billion from the prior quarter, primarily due to a decrease in MW sold and a $50 million product warranty reserve charge[1][2] - Net income per diluted share for Q3 2024 was $2.91, compared to $3.25 in Q2 2024[2] - Net sales for the nine months ended September 30, 2024, reached $2,692,258, a 24.6% increase compared to $2,160,049 in the same period in 2023[11] - Gross profit for the nine months ended September 30, 2024, was $1,290,203, up 61.6% from $798,646 in the same period in 2023[11] - Net income for the nine months ended September 30, 2024, was $898,928, an 86.7% increase compared to $481,538 in the same period in 2023[11] Cash Flow and Capital Expenditures - Net cash balance decreased to $0.7 billion from $1.2 billion in the prior quarter, driven by capital expenditures for new U.S. factories and increased working capital[3] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $407,003, a significant increase from $41,151 in the same period in 2023[12] - Purchases of property, plant and equipment for the nine months ended September 30, 2024, totaled $1,212,537, a 16.6% increase from $1,039,863 in the same period in 2023[12] - Property, plant and equipment acquisitions funded by liabilities for the nine months ended September 30, 2024, were $264,480, up from $185,064 in the same period in 2023[12] - Proceeds to be received from asset-based government grants for the nine months ended September 30, 2024, were $159,490, compared to $152,458 in the same period in 2023[12] Sales and Bookings - YTD net bookings reached 4.0 GW, with 0.4 GW added since the Q2 earnings call[1] - Expected sales backlog stands at 73.3 GW[1] Updated Guidance for 2024 - Updated 2024 guidance: Net sales revised to $4.10B-$4.25B from $4.4B-$4.6B, and volume sold adjusted to 14.2GW-14.6GW from 15.6GW-16.3GW[5] - Capital expenditures for 2024 are now projected at $1.55B-$1.65B, down from $1.8B-$2.0B[5] - Gross margin for 2024 is expected to be $1.95B-$2.00B, slightly lower than the previous estimate of $2.0B-$2.1B[5] - Operating income for 2024 is forecasted at $1.48B-$1.54B, compared to the prior range of $1.5B-$1.6B[5] - Earnings per diluted share for 2024 are now expected to be $13.00-$13.50, down from $13.00-$14.00[5] Research and Development - Research and development expenses for the nine months ended September 30, 2024, were $144,876, a 33.6% increase from $108,445 in the same period in 2023[11] Marketable Securities and Cash Position - Proceeds from sales and maturities of marketable securities for the nine months ended September 30, 2024, were $1,897,997, compared to $3,996,439 in the same period in 2023[12] - Cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of the period on September 30, 2024, were $1,021,467, a decrease from $1,510,242 at the end of the same period in 2023[12]

KIEV, UKRAINE - 2019/01/20: In this photo illustration, the First Solar Semiconductor manufacturing ... [+] company logo seen displayed on a smartphone. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)LightRocket via Getty ImagesFirst Solar stock has fared a bit better than its sector peers, rising by about 14% year-to-date. In comparison, Enphase Energy stock, another solar component player, has seen its stock decline by 38% over the same period. Now, First Solar is slated to ...

Editor's note: Seeking Alpha is proud to welcome Semiconductor Analyst as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. I'm a full-time analyst and portfolio manager of a technology fund with 5 years of experience. I graduated in Mechanical Engineering from the Federal University of Rio de Janeiro (Brazil) and École Centrale de Lyon (France). I'm curr ...

I am here to dive into why First Solar (NASDAQ: FSLR ) is an excellent buy in the renewable energy sector. The company stands out for its robust involvement in developing, financing, and operating solar power plants As an award-winning creative writer, I am continuing to craft my thoughts through financial analysis and investment strategies. I bring a comprehensive understanding of global markets to my role as an independent investor from my professional background. My academic foundation in business and ec ...

In the latest trading session, First Solar (FSLR) closed at $196.04, marking a +1.89% move from the previous day. This change outpaced the S&P 500's 0.22% gain on the day. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, added 0.76%.The largest U.S. solar company's shares have seen a decrease of 20.4% over the last month, not keeping up with the Oils-Energy sector's loss of 11.32% and the S&P 500's gain of 1.47%.The investment community will be paying close attention to the earnings perfor ...

First Solar (FSLR) is scheduled to release third-quarter 2024 results on Oct. 29, after market close. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for revenues is pegged at $1.08 billion, implying a 34.6% improvement from the year-ago reported figure. The consensus mark for earnings is pegged at $3.16 per share, suggesting a 26.4% surge from $2.50 reported in the prior-year quarter. The bottom-line estimate has, however, moved down 4.2% in the past 60 ...

Wall Street expects a year-over-year increase in earnings on higher revenues when First Solar (FSLR) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 2 ...

First Solar Inc (NASDAQ:FSLR) stock is 2.3% higher at $200.77 this morning, after a bull note from Citi. The analyst upgraded the solar stock to "buy" from "neutral" and lifted its price target to $254 from $200, saying the firm should benefit regardless of who takes next month's U.S. presidential election.Drilling down today's options activity, FSLR is seeing 2 times the average intraday volume. Already today, 7,822 calls and 4,577 puts have crossed the tape, with the most activity taking place at the Janu ...

NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of First Solar, Inc. (“First Solar” or “the Company”) (NASDAQ: FSLR). Investors who purchased First Solar securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/FSLR. Investigation Details On October 10, 2024, Jefferies analysts pared their expectations for FirstSolar’s upcomin ...

Shares of First Solar (NASDAQ: FSLR) experienced a sharp 9.29% decline on October 10. This setback comes after Jefferies and Bank of America (NYSE: BAC) equity analysts revised their price targets downward.Although both firms remain bullish overall in the long term, having reiterated their ‘Buy’ ratings, they expect significant short-term headwinds and setbacks — primarily due to labor shortages, regulatory pressures, and supply chain disruptions. Earlier this year, 13-F filings revealed a significant inves ...