First Solar Announces Second Quarter 2018 Financial Results

Pubblicato su 27 lug 2018
First Solar 
First Solar, Inc. announced financial results for the second quarter of 2018. Net sales for the second quarter were $309 million, a decrease of $258 million from the prior quarter due to lower system and third-party module sales. Second quarter system sales were impacted by the timing of certain project sales, which are now anticipated to close in the second half of the year.

The Company reported a second quarter loss per share of $(0.46), compared to earnings per share of $0.78 in the first quarter of 2018. Net income decreased compared to the prior quarter primarily due to lower revenue and a decrease in gross margin.

Cash and marketable securities at the end of the second quarter increased to $3.1 billion from $2.9 billion at the end of the first quarter. The increase primarily resulted from proceeds received from the sale of the Company's interests in 8point3 Energy Partners, partially offset by ongoing capital investment in Series 6 manufacturing capacity.

"We have taken another important step forward in our Series 6 transition with the first commercial shipments from our Malaysia factory," said Mark Widmar, CEO of First Solar. "With two factories now producing Series 6 modules and a third factory on the cusp of starting production we have made significant progress during the past quarter. Customer demand for our Series 6 product continues to be solid with nearly 900 megawatts of new contracts signed since our last earnings update. With year-to-date bookings of 4.1GWDC and total contracted volume of 10.9GWDC that extends to the end of 2020, we continue to have good visibility to future demand."

2018 guidance was updated to reflect a narrower expected range of net sales and a decrease in gross margin primarily due to near-term increases in Series 6 module cost per watt. Earnings per share guidance is unchanged as a result of lower operating expenses and other items offsetting the revised gross margin forecast. The complete update to the guidance ranges is as follows:


(1)Includes approximately $60 million of ramp penalty costs

(2)Includes approximately $120 million of production start-up expense

(3)Defined as cash and marketable securities less expected debt at the end of 2018


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First Solar (Pannelli Fotovoltaici): https://it.enfsolar.com/first-solar
First Solar (Riciclaggio): https://it.enfsolar.com/first-solar
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