First Solar Q2 EPS $1.59, net sales $811M; guides FY EPS $7-8 unchanged

FIRST SOLAR, INC.

2023-Q2 EPS reported $1.99 revenue$1,358,959,000

Net sales $811M (+$262M QoQ); diluted EPS $1.59 vs $0.40 in Q1.
YTD net bookings 21.1 GW; backlog 77.8 GW expected volume sold.
Up to $1.1B investment in new 3.5 GW Series 7 US manufacturing facility.
FY 2023 guidance: net sales $3.4-3.6B, EPS $7-8 unchanged; operating expenses raised to $450-475M.
Net cash balance guided to $1.5-1.8B (up from $1.2-1.5B); capex lowered to $1.7-1.9B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST SOLAR, INC. reported the second quarter ended June 30, 2023 results: revenue $811 million, EPS $1.59. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $811 million
EPS: $1.59
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net sales for the second quarter were $811 million, an increase of $262 million from the prior quarter. The increase was primarily driven by an increase in the volume of modules sold, including the commencement of sales of the Company’s next-generation Series 7 modules, and an increase in the average selling price (“ASP”) of our modules. The Company reported second quarter net income per diluted share of $1.59, compared to net income per diluted share of $0.40 in the first quarter of 2023.

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FIRST SOLAR, INC. filing history →

Source: SEC EDGAR

accession 0001274494-23-000021

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