First Solar Shares Bounce Around Following Q3 Earnings: The Details
Portfolio Pulse from Adam Eckert
First Solar Inc (FSLR) reported Q3 revenue of $801 million, missing the consensus estimate of $894.12 million. The company's adjusted earnings were $2.50 per share, beating the consensus of $2.06. First Solar ended the quarter with $1.3 billion in cash and equivalents, down from $1.5 billion in the previous quarter. The company expects full-year 2023 revenue to be between $3.4 billion and $3.6 billion, and earnings to be between $7.20 and $8 per share.
October 31, 2023 | 8:16 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
First Solar's Q3 revenue missed estimates, but earnings per share exceeded expectations. The company's cash and equivalents decreased compared to the previous quarter. The company's 2023 revenue and earnings guidance is in line with consensus estimates.
First Solar's Q3 revenue miss could negatively impact the stock price. However, the earnings beat and the 2023 guidance in line with consensus estimates could offset this negative impact. The decrease in cash and equivalents could be a concern for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100