First Solar's guidance disappoints, shares -10.2% AH

In addition to missing Q4 estimates, First Solar (FSLR) is guiding for Q1 revenue of $800M-$900M and EPS of $0.50-$0.60, largely below a consensus of $898.3M and $0.84.

443.7MW of solar modules were produced, +4% Q/Q and -13% Y/Y. Conversion efficiency +10 bps Q/Q and +50 bps Y/Y to 13.4%, cost/watt fell by $0.03 Q/Q and $0.12 Y/Y to $0.56.

Gross margin -420 bps Q/Q and -270 bps Y/Y to 24.6%. SG&A spend +4% Y/Y to $65.7M, R&D +22% to $38.4M. Free cash flow was $137M, down from $284M in Q3 and $253M a year ago.

Expected future module shipments were at 2.7GW at the end of Q4, flat Q/Q and up 100MW Y/Y. Expected future systems/module revenue was at $7.5B, down $300M Q/Q and $500M Y/Y. But potential opportunities rose to 10.6GW from 7.7GW.

CC at 4:30PM ET. Q4 results, PR, datasheet, slides.

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Comments (1)
  • tstreet
    , contributor
    Comments (1035) | Send Message
    Took most of FSLR off the table yesterday due to high gains over last month. Just lucky although I thought that run up was a bit too rapid to not take profits. Frankly, things don't look so good going forward so would have to read a pretty convincing piece before buying anymore soon.
    25 Feb 2014, 05:16 PM Reply Like
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