First Solar Earnings: Here’s Why Shares are Down Now
First Solar, Inc. (NASDAQ:FSLR) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.22%.
First Solar, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.69 in the quarter versus EPS of $-0.08 in the year-earlier quarter.
Revenue: Rose 51.89% to $755 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: First Solar, Inc. reported adjusted EPS income of $0.69 per share. By that measure, the company missed the mean analyst estimate of $0.75. It beat the average revenue estimate of $725.26 million.
Quoting Management: “We demonstrated progress on several fronts during the first quarter, including continued strengthening of our balance sheet and additions to our pipeline,” said Jim Hughes, CEO of First Solar. “We remain on track for the year and reaffirm our full-year 2013 financial guidance and are focused on achieving our goal of new bookings to shipments ratio of one-to-one.”
Key Stats (on next page)…
Revenue decreased 29.77% from $1.08 billion in the previous quarter. EPS decreased 66.18% from $2.04 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.92 to a profit $1.16. For the current year, the average estimate has moved up from a profit of $4.01 to a profit of $4.27 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)