Shana NovakInvestment Thesis First Solar (NASDAQ:FSLR) is an American Solar manufacturer headquartered in Tempe, Arizona, with research and development labs in Ohio and California and manufacturing facilities in Ohio, Alabama (expected 2024), Louisiana (expected 2025) Malaysia, Vietnam, and India. When I last covered First Solar on July 16, 2024, I highlighted First Solar’s leading position as a domestic manufacturer of solar panels in the United States, enabling the company to benefit substantially fro ...

The invention of clean energy has given many hope that it could be a future solution to nonrenewable energy sources and less pollutant energy production. Yet, the reality remains that each year the federal government spends billions of dollars to subsidize the industry. As a result, many of the profits revenues reported by the big, clean energy companies in the U.S. are not without taxpayer money involved. As the election nears, both political parties have drawn lines in the sand regarding their stands on t ...

Renewable energy stocks haven’t been able to withstand the market pressure and have shown high volatility over the past few quarters. Besides the surplus inventory, the political environment and macroeconomic situations have led to a profit drop. The high rates have hit the companies hard. However, we are all transitioning towards renewable energy adoption and although it may not happen in the next few years, it will occur over the coming decades. This is your chance to bag renewable energy stocks that have ...

aryos/E+ via Getty Images In my last analysis of First Solar (NASDAQ:FSLR), I allocated a Hold rating due to overvaluation concerns. Since then, the stock has lost almost 18% in price. Now, I think the stock is fairly valued again, and so I am reallocating a Buy rating, the last of which I posted in April 2024, and the stock has gained nearly 20% since then. Analyst's Performance Now, First Solar's future looks evermore bright since the valuation has become more reasonable. Manufacturing capacity expans ...

First Solar is reporting great profits, but most of what's earned is from subsidies.First Solar (FSLR -2.50%) is one of the most successful and profitable companies in the solar industry. But bookings are falling, and management is counting on subsidies to keep profits where they are. In this video, Travis Hoium shows why First Solar stock is priced for perfection and hasn't accounted for potential risks.*Stock prices used were end-of-day prices of Aug. 1, 2024. The video was published on Aug. 2, 2024. ...

Goldman Sachs analyst Brian Lee reiterated a Buy rating on First Solar, Inc FSLR with a price target of $311, up from $302.First Solar reported fiscal 2024 second-quarter revenue of $1 billion, above Goldman Sachs estimate and FactSet consensus of $969 million and $940 million, supported by ~3.4GW of shipments (vs. Goldman Sachs estimate of 3.4GW).The consolidated gross margin of 49.4% came in well above Goldman Sachs’s estimate of 42.7%. The improvement in gross margins drove the large EPS beat as FSLR rep ...

First Solar, Inc. (FSLR) reported second-quarter 2024 earnings of $3.25 per share, up a solid 104.4% from the prior-year quarter’s reported earnings of $1.59 per share. The bottom line also beat the Zacks Consensus Estimate of $2.67 by 21.7%.The year-over-year improvement in the bottom line can be attributed to solid sales and gross profit growth, along with lower operating expenses, compared to the prior-year quarter’s level.Sales UpdateFirst Solar’s second-quarter net sales were $1.01 billion, which surpa ...

业绩总结 - 2024年第二季度每股摊薄收益为3.25美元[24] - 2024年第二季度净销售额为10.10亿美元，较第一季度增长27.2%[18] - 2024年第二季度毛利率为49.4%，同比增长11.1%[18] - 2024年第一季度总收入为12亿美元，同比增长15%[25] - 2024年第一季度净利润为1.5亿美元，净利率为12.5%[25] - 2024年第一季度毛利率为18%，较上年同期上升3个百分点[25] - 2024年第一季度运营现金流为2亿美元，同比增长25%[25] 用户数据 - 截至2024年6月30日，合同积压总量为75.9 GW[24] - 2024年迄今净预订量为3.6 GW，自上次财报电话会议以来增加0.9 GW[24] - First Solar的光伏组件出货量达到2.5 GW，同比增长20%[25] - First Solar在北美地区的市场份额达到了30%[25] 未来展望 - 2024年第三季度预计税收抵免约为2.4亿美元，第四季度预计为3.35亿美元[22] - 2024年预计销售量为15.6 GW至16.3 GW[23] - 公司预计2024年全年收入将在45亿至50亿美元之间[25] 资本支出与投资 - 2024年第二季度现金及现金等价物总额为18亿美元，净现金为12亿美元[24] - 2024年资本支出预计在18亿至20亿美元之间[23] - 公司计划在未来三年内投资10亿美元用于扩展生产能力[25] 生产与研发 - 2024年第二季度生产量创纪录达到3.7 GW[24] - 2024年第一季度的研发支出为5000万美元，占总收入的4.2%[25] - 2024年第一季度的销售和管理费用为8000万美元，占总收入的6.7%[25]

财务数据和关键指标变化 - 第二季度净销售额为10亿美元,较上一季度增加0.2亿美元,主要由于销售量增加24%以及欧洲客户合同终止付款 [25][28] - 毛利率为49%,较上一季度的44%有所提升,主要由于美国工厂销售占比提高带来的45X税收抵免、合同终止付款以及生产成本持续下降 [25] - 第二季度营业利润为3.73亿美元,包括9700万美元的折旧摊销和其他费用 [28] - 第二季度每股摊薄收益为3.25美元 [28] - 第二季度现金及现金等价物为18亿美元,较上季度减少0.2亿美元,主要由于新工厂建设支出和偿还印度的部分贷款 [29] 各条业务线数据和关键指标变化 - 公司没有具体披露各业务线的数据和指标变化 [无] 各个市场数据和关键指标变化 - 公司在美国、印度和欧洲市场有业务,但未具体披露各市场的数据和指标变化 [无] 公司战略和发展方向及行业竞争 - 公司继续执行既定的制造技术、客户和财务承诺,保持良好的运营和财务表现 [32] - 公司在美国进一步扩大制造产能,新建阿拉巴马和路易斯安那工厂正按计划推进 [12][13] - 公司在技术方面取得新的突破,如建立新的CadTel电池效率纪录,并计划在今年四季度推出CuRe技术 [10][15] - 公司宣布拥有制造TOPCon电池的相关专利,并将采取措施保护自身权利 [16][17][18] - 公司面临来自中国过度产能导致的不合理供给和价格竞争的挑战 [48][49][50][51] 管理层对经营环境和未来前景的评论 - 管理层表示,尽管公司取得良好的执行成果,但行业面临政策、供给和大型跨国公司战略调整等不确定性 [11][33][53] - 即将到来的美国大选可能会影响政策环境,给公司和客户带来不确定性,但长期来看可能会有利于公司的国内制造优势 [34][35][36][73][74] - 中国过度产能导致的不合理供给和价格竞争持续给行业带来挑战 [48][49][50][51] - 一些大型跨国公司正在重新评估在可再生能源项目的投资,给公司带来一定影响 [53][54][93][94] - 但公司看好未来需求前景,特别是数据中心带来的需求增长 [55][56] 其他重要信息 - 公司第二季度净订单为0.9吉瓦,截至6月30日总订单量为75.9吉瓦 [8][9] - 公司在美国新建的研发中心已投入使用,将有助于推进薄膜和钙钛矿电池技术的发展 [13][14] - 公司正积极应对贸易政策变化,包括寻求对东南亚国家太阳能电池和组件的反倾销和反补贴调查 [42][43][44] - 公司认为,即使共和党控制政府,长期来看也可能有利于公司的国内制造优势 [73][74] 问答环节重要的提问和回答 问题1 **Philip Shen 提问** 询问公司7月份新增1.3吉瓦订单的平均价格,以及未来订单增长的时间节点 [63] **Mark Widmar 回答** 7月份新增订单的平均价格与之前披露的基本一致,主要受到之前取消订单的影响。公司将保持谨慎态度,等待政策环境更加明朗后再大幅增加订单,预计未来订单增长可能会有所加速 [64][65][66] 问题2 **Jon Windham 提问** 询问路易斯安那工厂未来6-9个月的关键里程碑 [68] **Mark Widmar 回答** 预计今年年底到明年初完成建筑主体,明年第一季度开始设备安装,预计明年第三季度实现首批出货 [69][70] 问题3 **Andrew Percoco 提问** 询问即将到来的美国大选对公司订单和定价的影响 [72] **Mark Widmar 回答** 大选结果可能会带来一定的暂时性影响,客户和公司都会谨慎观望。但长期来看,共和党执政可能会带来更有利的贸易政策,对公司的国内制造优势有利 [73][74]

First Solar (FSLR) came out with quarterly earnings of $3.25 per share, beating the Zacks Consensus Estimate of $2.67 per share. This compares to earnings of $1.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.72%. A quarter ago, it was expected that this largest U.S. solar company would post earnings of $1.90 per share when it actually produced earnings of $2.20, delivering a surprise of 15.79%.Over the last four quarter ...