First Solar Inc. reported Q3 sales of $928 million, a $285 million rise from the prior quarter, while net income per share rose to $1.45 from $0.35 in Q2 2020, according to the company’s press release. Quarterly earnings due to strong international project sales and an increase in volumes of modules sold to third parties.
- The company reinstates financial guidance for Q4 after previously withdrawing it on the uncertainties of the COVID-19 pandemic.
- Q4 net sales guidance $540 million to $790 million
- Q4 gross margin % guidance 26.5% to 27.0%
- Q4 operating income and expenses guidance $50 million to $120 million and $90 million to $95 million, respectively
- Q4 earnings per share guidance $1.00 to $1.50
- Q4 net cash balance guidance $1.2 billion to $1.3 billion
- Q4 capital expenditure guidance $123 million to $223 million
- Q4 shipments guidance 1.8 GW to 2.0 GW
- First Solar’s cash, restricted cash, and marketable securities in Q3 totaled $1,671 million, a $29 million rise from the prior quarter
- First Solar recorded a strong fleet-wide production with capacity utilization averaging over 100% at all factories.
First Solar Inc. stock is gaining. FSLR: NASDAQ is up 11.81%