First Solar Q3 Sales $887.67M Miss $1.07B Estimate
Portfolio Pulse from Benzinga Newsdesk
First Solar reported Q3 sales of $887.67 million, missing the analyst consensus estimate of $1.07 billion by 17.30%. Despite the miss, sales increased by 10.81% compared to the same period last year.
October 29, 2024 | 8:03 pm
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NEGATIVE IMPACT
First Solar's Q3 sales of $887.67 million missed expectations by 17.30%, but showed a year-over-year increase of 10.81%.
The significant miss on sales estimates is likely to negatively impact First Solar's stock price in the short term, despite the year-over-year growth. Investors often react negatively to earnings misses, especially when the miss is substantial.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100