Seeking Alpha

First Solar blows away estimates, guidance mixed

  • First Solar (FSLR): Q3 EPS of $2.28 beats by $1.28.
  • Revenue of $1.27B (+51% Y/Y) beats by $277M.
  • 2013 revenue guidance range lowered to $3.4B-$3.6B from $3.6B-$3.8B (consensus is at $3.63B). 2013 EPS guidance range raised to $4.25-$4.50 from $3.75-$4.25 (consensus is at $3.77)
  • Shares are halted, and will resume trading at 4:35PM ET. CC at 4:30PM. (PR)
Comments (8)
  • Bill Maurer
    , contributor
    Comments (4482) | Send Message
     
    It's amazing. They can blowout Q3 numbers by roughly $300 million, but then cut guidance for the year by $200 million. Yet, raise EPS numbers for the year.

     

    Will be VERY interesting to see how this thing trades. You could make the case for 40 or 60.
    31 Oct 2013, 04:22 PM Reply Like
  • moreofthesame
    , contributor
    Comments (743) | Send Message
     
    I am amazed how this company can come out on top constantly, thin film is not exactly popular these days.
    31 Oct 2013, 08:18 PM Reply Like
  • Bill Maurer
    , contributor
    Comments (4482) | Send Message
     
    Because it all depends on when they recognize revenues. One quarter, they get them recognized, the blowout. The next quarter, a project doesn't get recognized, and they miss by a few hundred million.
    31 Oct 2013, 08:48 PM Reply Like
  • moreofthesame
    , contributor
    Comments (743) | Send Message
     
    exactly. They push revenue up or downstream to make blowout quarters to save their skin.
    1 Nov 2013, 01:40 AM Reply Like
  • kevinconway
    , contributor
    Comments (1497) | Send Message
     
    Have owned FSLR for a long time....talk about people getting their projections wrong...does not speak well for their understanding of this business....the segment will have difficulties but long term FSLR will remain on top and continue to grow. Long term hold and add on corrections...often driven by media missinformation.
    31 Oct 2013, 04:36 PM Reply Like
  • joeg1969
    , contributor
    Comments (300) | Send Message
     
    Seeing major upgrades tomorrow!
    31 Oct 2013, 05:49 PM Reply Like
  • Walter P. Chrysler
    , contributor
    Comments (300) | Send Message
     
    revenue recognition is the name of the game. a 51% increase YoY is OUTSTANDING if factually correct. this thing is an energy giant. I did read a story about BJ's Wholesale putting solar panels on their roofs...not just to lower their own energy costs but to sell that same energy back to the grid. If Governments allow this going forward that could really be a game changer vis a vis the source of production. to my knowledge the only state owned grid is in the State of New York. in theory line maintenance would cease to exist for the single home family as everyone would simply drive to their local convenience store to "juice up"...if they wouldn't be generating enough electricity in their own right not to even be worried about that. given the collapse of the housing market it's really hard to argue with the thesis. looks like the roll out continues as well.
    31 Oct 2013, 10:38 PM Reply Like
  • kevinconway
    , contributor
    Comments (1497) | Send Message
     
    From another post Aug 1, 2012

     

    Will the solar industry survive? Yes
    Will some companies go under? Yes
    Will some companies merge/acquire? Yes
    When the dust settles which company is the most likely to come out on top and then dominate the market as a long lasting profitable company? FSLR.
    Might take a few years so I would not get obsessed with current earnings, etc....it's a horse race and FSLR is the most likely company to win. Added to my position.
    4 Nov 2013, 01:56 PM Reply Like
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