FSLR, EME, & STRL Could Soar 50% Ahead of US Elections
As we inch closer to the second half of the year, investors are starting to get all ears perked up for news surrounding the US presidential election. These three US stocks, if you get in at the right time, could shoot up by 50% or even more before November's big day!
1. $First Solar(FSLR)$
FSLR is a big name in renewable energy, especially when it comes to manufacturing those ultra-thin photovoltaic (PV) panels. The demand for this tech is through the roof, making FSLR a must-have for your portfolio!
Compared to the 15% return of the $S&P 500(.SPX)$ so far this year, this stock has shot up nearly 60%. FSLR tackled supply chain issues, inflation, and rising interest rates in 2023 and still managed to rake in a record $3.3 billion in revenue.
With strategic investments in expanding production capacity, their backlog of contract orders is at an all-time high. They're maintaining a strong growth momentum in the first quarter of 2024, with net income surging 456% to $236.7 million.
2. $EMCOR Group Inc(EME)$
EME is a US industrial and energy infrastructure company that's really worth its salt. Growing revenues, profits, and free cash flow? Check, check, and check! Since the COVID-19 pandemic in 2020, their services have been in high demand, and their revenue has been growing by double digits.
Management has been taking advantage of increasing infrastructure investments and the ongoing demand for maintenance and construction services, which has driven up profits and backlog orders. In their latest quarterly report, revenue grew 19% to $3.43 billion, earnings per shares hot up $4.17, and remaining performance obligations hit a record high of $9.18 billion.
Management even bumped up their earnings guidance for fiscal 2024 to between $15.50 and $16.50 per share. So yeah, EME is definitely a stock to watch out for in 2024 and beyond.
3. $Sterling Construction(STRL)$
STRL is poised to be a major beneficiary of global infrastructure spending in the next decade. And guess what's fueling their growth? The urgent need to expand and upgrade aging infrastructure in the US!
This demand has been strong for the past few years, giving them plenty of room to accelerate revenue and profit growth. In fiscal 2023, revenue grew 11% to $1.97 billion, net income surged 30% to $138.66 million, and earnings per share hit $4.44.
They're maintaining their growth momentum, with earnings per share up 56% to $1.
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