S&P 500 (NYSE:SPY) component First Solar, Inc. (NASDAQ:FSLR) will unveil its latest earnings on Tuesday, July 26, 2011. First Solar, Inc. designs and manufactures solar electric power modules using a proprietary thin film semiconductor technology. 10 Solar Stocks You Must Add to Your Investing Watch List Now>>
First Solar, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 97 cents per share, a decline of 47.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.97. Between one and three months ago, the average estimate moved down and dropped from $1.01 during the last month. For the year, analysts are projecting net income of $9.30 per share, a rise of 21.1% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 17 cents, reporting profit of $1.33 per share against a mean estimate of net income of $1.16 per share.
Wall St. Revenue Expectations: On average, analysts predict $589.6 million in revenue this quarter, a rise of 0.3% from the year ago quarter. Analysts are forecasting total revenue of $3.75 billion for the year, a rise of 46.5% from last year’s revenue of $2.56 billion.
Analyst Ratings: Analysts are bullish on First Solar as 15 analysts rate it as a buy, four rate it as a sell and 15 rate it as a hold.
The decrease in profit in the first quarter breaks a streak of two consecutive quarters of year-over-year profit increases. Net income fell 32.7% in the first quarter while the figure rose 10.1% in the fourth quarter of the last fiscal year and 15.3% in the third quarter of the last fiscal year.
Revenue has fallen in the past two quarters. In first quarter, revenue declined 0.1% to $567.3 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 4.9%.
Competitors to Watch: SunPower Corporation (NASDAQ:SPWRA), Suntech Power Hldgs. Co., Ltd. (NYSE:STP), Trina Solar Limited (NYSE:TSL), General Electric Company (NYSE:GE), Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE), MEMC Electronic Materials, Inc. (NYSE:WFR), Evergreen Solar, Inc. (NASDAQ:ESLR), Energy Conversion Devices, Inc. (NASDAQ:ENER), DayStar Technologies Inc. (NASDAQ:DSTI), and Ascent Solar Tech., Inc. (NASDAQ:ASTI).
Stock Price Performance: During April 25, 2011 to July 20, 2011, the stock price had fallen $11.35 (-8.4%) from $134.71 to $123.36. The stock price saw one of its best stretches over the last year between October 20, 2010 and October 28, 2010 when shares rose for seven-straight days, rising 5.4% (+$7.76) over that span. It saw one of its worst periods between March 31, 2011 and April 12, 2011 when shares fell for nine-straight days, falling 10.7% (-$17.19) over that span. Shares are down $6.78 (-5.2%) year to date.
(Source: Xignite Financials)
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