First Solar Stock Sinks 8.75% Premarket As Quarterly Revenue Nearly Halved

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First Solar Stock Sinks 8.75% Premarket As Quarterly Revenue Nearly Halved

Tiger Newspress2023-04-28

Shares of First Solar Inc. $(FSLR)$ dropped as much as 8.75% in premarket trading after the solar company reported first-quarter earnings that missed expectations and sales that also missed and were nearly halved.

First Solar earned $45.6 million, or 40 cents a share, in the quarter, contrasting with a loss of $43.3 million, or 41 cents a share, in the year-ago period.

Sales fell to $548 million, from $1 billion, mostly driven by a drop in the volume of solar modules sold to third parties, the company said. Analysts polled by FactSet expected EPS of 99 cents on sales of $714 million in the quarter.

The company kept its 2023 guidance intact at revenue between $3.4 billion and $3.6 billion, and EPS between $7 and $8. The stock ended the regular trading day up 0.7%.

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runningjames
·2023-04-28
It never dip like Enphase over 25% cuz keep guidance revenue unchange for next Q... do you have confidence on that or wait till next Q miss again then dip. I would recommend sell as it went up from 147 to 220.
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fishfire
·2023-04-28
The real fact is, during economy downturn, nobody cares about go green. It relies on government policies.
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It relies on government policies.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947183235","repostId":1145689516,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":5,"commentSize":2,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}