First Solar Reports Mixed Q4 Results: EPS Beat, Revenue Miss
Portfolio Pulse from Erica Kollmann
First Solar, Inc. (NASDAQ:FSLR) reported Q4 earnings of $3.25 per share, beating estimates by 2.2%, but missed revenue expectations with $1.16 billion against a $1.32 billion forecast. The company saw a cash increase to $1.6 billion, attributed to operating cash flows and capital expenditures for capacity expansions. CEO Mark Widmar highlighted significant growth and investments in 2023. For 2024, First Solar projects EPS between $13 and $14 and net sales between $4.4 billion and $4.6 billion. After the report, FSLR shares rose 5.21% in after-hours trading.
February 27, 2024 | 10:34 pm
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POSITIVE IMPACT
First Solar reported higher than expected Q4 EPS but missed revenue forecasts. The company has a positive outlook for 2024 with significant earnings and sales projections.
The positive earnings per share (EPS) beat and optimistic 2024 outlook, despite the revenue miss, likely contributed to the after-hours stock price increase. The company's strategic investments and expansion plans indicate strong future growth potential, positively impacting investor sentiment.
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