First Solar Q1 net loss $0.41/share on sales $367M; reiterates FY22 guidance

FIRST SOLAR, INC.

2022-Q1 EPS reported -$0.41 revenue$367,040,000

Net sales $367M, down $540M QoQ; net loss per diluted share $0.41 vs. Q4-21 EPS of $1.23.
Cash, restricted cash, marketable securities $1.6B, down $200M from prior quarter.
YTD net bookings 16.7 GW DC (11.9 GW DC since prior call); backlog exceeds 35 GW DC.
Full-year 2022 guidance unchanged: net sales $2.4B-$2.6B, EPS $0.00-$0.60.
CEO cites strong bookings momentum and long-term contracting demand.

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