First Solar Q1 net sales $794M, EPS $2.20; guides FY24 net cash to $600-900M, capex $1.8-2.0B

FIRST SOLAR, INC.

2024-Q1 EPS reported $2.20 revenue$794,108,000

Net sales $794M (down $0.4B QoQ); diluted EPS $2.20 (vs $3.25 Q4 2023).
Net cash balance $1.4B, down from $1.6B; FY24 net cash guidance lowered to $600-900M.
Capital expenditure guidance raised to $1.8-2.0B from $1.7-1.9B for capacity expansions in AL, LA, OH.
YTD net bookings 2.7 GW at ASP 31.3¢/W (excl adjusters); total backlog 78.3 GW.
Full-year P&L guidance unchanged: net sales $4.4-4.6B, EPS $13.00-14.00, volume 15.6-16.3GW.

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 0.95

FIRST SOLAR, INC. reported first quarter ended March 31, 2024 results: revenue $794 million, net income $2.20 per diluted share, EPS $2.20. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $794 million
Net income: $2.20 per diluted share
EPS: $2.20
Guidance: reaffirmed
Result: reported results

Exact text from the filing

99.1) --- EX-99.1 2 ex991pressreleaseq1-2024.htm EXHIBIT 99.1 Document EXHIBIT 99.1 News Release First Solar, Inc. Announces First Quarter 2024 Financial Results • Net sales of $794 million • Net income per diluted share of $2.20 • Net cash balance of $1.4 billion • Maintain full-year 2024 P&L guidance • YTD net bookings of 2.7 GW with an average selling price

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Source: SEC EDGAR

accession 0001628280-24-019623

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