First Solar(US:FSLR)2025-07-31 20:05Financial Performance - Net sales for Q2 2025 were $1.1 billion, an increase of $0.3 billion from the prior quarter[1] - Net income per diluted share for Q2 2025 was $3.18, compared to $1.95 in Q1 2025[3] - Net sales for Q2 2025 reached $1,097.17 million, a 30% increase from $844.57 million in Q1 2025 and a 9% increase from $1,010.48 million in Q2 2024[17] - Operating income for Q2 2025 was $361.61 million, up 63% from $221.24 million in Q1 2025, but down 3% from $372.51 million in Q2 2024[17] - Net income for the first half of 2025 was $551.40 million, compared to $585.97 million in the same period of 2024, reflecting a decrease of 6%[20] - Basic net income per share for Q2 2025 was $3.19, an increase from $1.96 in Q1 2025 but a decrease from $3.26 in Q2 2024[17] Cash and Assets - Cash and cash equivalents increased to $0.6 billion from $0.4 billion at the end of the prior quarter[3] - Cash and cash equivalents at the end of Q2 2025 were $1,180.08 million, down from $1,716.58 million at the end of Q2 2024[20] - Total assets as of June 30, 2025, were $12.86 billion, compared to $12.12 billion at the end of 2024[15] - Total stockholders' equity increased to $8.55 billion from $7.98 billion at the end of 2024[15] Sales and Guidance - The expected sales backlog is 64.0 GW, extending through 2030[5] - Updated guidance for 2025 net sales is now $4.9 billion to $5.7 billion, up from the previous range of $4.5 billion to $5.5 billion[6] - The company anticipates module sales between 5.0 GW and 6.0 GW for Q3 2025[6] Earnings Forecast - Forecasted third quarter earnings per diluted share are expected to be between $3.30 and $4.70[6] Expenses and Cash Flow - Cash flows from operating activities showed a net cash outflow of $458.41 million for the first half of 2025, contrasting with a net inflow of $460.74 million in the same period of 2024[20] - The company reported a total of $494.10 million in capital expenditures for property, plant, and equipment in the first half of 2025, down from $778.62 million in the same period of 2024[20] - Research and development expenses increased to $54.49 million in Q2 2025, compared to $52.39 million in Q1 2025 and $51.94 million in Q2 2024[17] Other Financial Impacts - The company sold $312 million of Section 45X tax credits for cash proceeds of $296 million, resulting in a loss of $16 million on the transaction[2] - The company experienced a foreign currency loss of $9.73 million in Q2 2025, compared to a loss of $11.59 million in Q1 2025[17]