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First Solar GAAP EPS of $1.23 beats by $0.15, revenue of $907.3M misses by $17.68M

Mar. 01, 2022 4:22 PM ETFirst Solar, Inc. (FSLR) StockBy: Gaurav Batavia, SA News Editor34 Comments
  • First Solar press release (NASDAQ:FSLR): Q4 GAAP EPS of $1.23 beats by $0.15.
  • Revenue of $907.3M (+48.9% Y/Y) misses by $17.68M.
  • Shares -16%.
  • 2022 net sales guidance of $2.4 billion to $2.6 billion
  • 2022 EPS guidance of $0.00 to $0.60
  • Year-end 2022 net cash balance guidance of $1.1 billion to $1.35 billion

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Comments (34)

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brettze profile picture
First Solar missed revenues by 700 million for this latest quarter 4th simply because First Solar cannot find anybody to ship them all . Blame on the snail mail!! So dont let the revenue miss scare you even if First Solar will still have trouble getting supplies as well. it is the game people play out there that is not helpful at all . They are troublemakers.. They are doing those misdeeds so to protect the overvalued companies elsewhere.. There is no level playing field at all.
In it for the long game and will continue to add on significant dips.
Sharpshin profile picture
If the -16% holds up (or down, in this case), I will add 10-20% to my position in the morning. Although I have a feeling that the traders might make it bounce up quickly.
brettze profile picture
@Sharpshin First Solar simply needs to get more back log orders and make necessary announcements on more plant expansions and new construction.. First Solar doesnt need to worry about earning calls as the managment is proving to be very nimble and conservative .. With the climate change still lapping at our ocean shores, we should be mobilizing before too long . First Solar is the best solar panel manufacturer , not the Chinese.. because of its recyclability. Recylability is what makes First Solar thin film panels so valuable in a intangible sense.. it is the backend that is so valuable to consumers who know that their panels will be so efficiently recycled . We live in a crowded planet and there is a big issue about storing recyclables or finding some nations who accept them .. so to ship them there. nearly all nations no longer accept them. So the nations have to take care of their own recyclables.. Our recycling programs are miserable failures, so it makes First Solar shine something extra!!
it is kind of sad that everyone is still not on the same page of "understanding" .
brettze profile picture
Revenue miss ?? hahahahahahahaha It should have doubled every year.. even with declining panel prices.. it doesnt matter. This is what ti takes to fight climate change.. Oh it is a revenue miss so therefore we dump FSLR is the manta now.. This is nuts plain y all!
brettze profile picture
I used to think that utility solar farms take up so much of the land until I use Google Map to look for all the oil wells and the so called oil patch that also takes up so much land, too.. Sure enough , I was shocked at how much land was taken up by oil producers to frack shale rock , etc.. Google map is oudated by years so I think there is already far more land being taken up by oil frackers. What is worse is that once the well is depleted.. the land is spoiled unless you are willing to pull out the snaking pipes and well pumpjacks those horse heads that bobs up down you know ? they are usually abandoned .. utility solar farms will always be kept maintained with replacements of aging panels for centuries to come .. This is normal expenses.. I encourage you to try Google Map or Bing Map and zoom up to find those oil equipments that eat up a lot of land!!!
you cannot win 'em ll!
They still want to drill in the national parks.. so you better wake up fast!
brettze profile picture
While I dont wish for that, but if climate change is real and pretty close to what the scientists think will happen in the near future. Then you know what? I expect something really bad or the worst yet to happen as related to climate change that you would have wished that you never owned oil stocks and other related stocks before.. We have to start somewhere yet we havent taken the first step at all. Oil production is supposed to be heading lower every year as it is being replaced with solar and wind power.. We still ahvent done that at all.
Everyone still think oil dividends are more important than climate change and all the damage it has caused ever sicne. Thre is no enviromental accountabilty and the punishment to go with it.. nothing at all!
Climat e change is a global crime! We have to put people in jail if this is what it takes to fix it.. We have to.. I am not sorry for that..
Police is very lousy at this..
veruy lousy!
brettze profile picture
WE still couldnt' cut oil production and replace it with more solar energy. This is a huge job .. We cannot do this at all.. We re too greedy with those overvalued stocks and still holding them as if we are Warren Buffetts ourselves. this is no way to solve our problems.. you are making it worse everyday . I am not going to solve it withotu you giving up your oil dividends first.
your oil dividends has to go first.. GAs flares has to be stopped. Drilling has to be cut . if you dont do any of those. we will never believe what you say..
Yeah the insane number of bookings really is the only positive thing. I did expect an earnings drop to like 2$ but 0,30$ is extraordinary
@Tim Schrijver Why did you expect earnings of $2? The company is going to sell 8.5 GW in 2022 with around 6 cents/W gross profit before supply chain issues. That is $500M. After $300M for capex and $100M for startup costs of the new plants, that left $100M or around $1/share. Subtract out rising shipping and aluminum costs, $0 was what the people should have been expecting.
@Tom Dailey capex doesn't influence your eps
@Tim Schrijver Sorry. Meant OPEX. From the call it sounds like shipping costs increased by over 2.5 cents/W. That alone cut EPS by over $2.
SeekingRalph profile picture
11.8GW booked since since 3rd quarter!?
brettze profile picture
CEO Widmar give us good news so those shortsellers can get their whiplash!!
EPS 2022 of 0.00!!!! That will be extremely painful tomorrow.

In an Era where the market is pumping renewable stonks to the moon, I always considered FSLR to be different than the stonks, an actual value compagny with cash on hands and earning good margins. Sadly with these guidance it's going torward the stonk category now.
I'm all out of green energy right now and all invested in O&G. Pretty obvious choice right now seeing what's happening in Europe.

If you beleive you avoid a crisis like what is happening now by increasing renewable and not investing in ALL sources, O&G/nuclear, included then your the reason Russia became powerfull enough for Putin to feel like he could go ahead with his insanity invasion.
@sun4life This evening Biden will talk about passing a revised BBB that focuses on climate change and deficit reduction. It will include an 11 cent tax credit for modules built in the US. Once that passes, EPS jumps to $3 in 2022 and $7 in 2023.
johnny inca profile picture
@Tom Dailey it won't pass.
Boyplunger.com profile picture
@Tom Dailey how do you know this?
As ex-cfo and a financial he should have hedged his sold out production instead of gambling on raw material prices.
WHY IS WIDMAR STILL CEO. This is one big f mess. 0 EPS in 2022. They should have liquidated and returned shareholders cash instead of building new factories apparently. NOT EVEN AN EXPLANATION WHY WE ARE AT ZERO OR WHAT TO EXPECT IN 2023. No bonusess for this guy
@Tim Schrijver The problem isn't with the company, it is with the analysts. Their estimates were insanely high. Of course EPS was going to be low in 2022. Aluminum and shipping costs cut into profit and startup costs of the new factories would be high. Relax, though. It is obvious a revised BBB will be floated this evening and passed soon containing the climate change policies. Overnight, EPS will jump to $3 in 2022 and $7 in 2023 with the 11 cent per watt tax credit.
The Golden Twenties profile picture
@Tim Schrijver EPS only matters if your investment horizon is 6-12 months. As a long term investor I like what I hear since investments in R&D, production expansion and new products should mean more growth and more future EPS.
@The Golden Twenties this year also included as much startup costs as in 2021. I am definitely a long term investor but this is a blow. Long since 2014. This year is even negative if you remove the 270mln tax gain. Panels apparently sold for free and not hedged properly. Also looking forward to more explanations, with good explanation I may be buying the dip again but fslr is stretching the patience

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