What’s in the Cards for First Solar (FSLR) in Q1 Earnings? – April 30, 2024


First Solar, Inc. (FSLR Free Report) is slated to report first-quarter 2024 results on May 1, after the closing bell.

In the last reported quarter, the company delivered an earnings surprise of 1.88%. First Solar has a trailing four-quarter average earnings surprise of 14.16%. 

Factors to Note

Thanks to the higher sales volume of its modules, particularly higher net sales of Series 7 modules, backed by ramped-up production rate at FSLR’s new facility in Ohio, are also likely to have boosted the company’s overall top line in the first quarter. Increasing average selling price (ASP) per watt sold must have also benefited the company’s revenues.

However, lower revenues from FSLR’s residual business operations, primarily related to the sale of FSLR’s Luz del Norte project in 2022, might have had some adverse impact on its overall top-line performance.

The Zacks Consensus Estimate for FSLR’s first-quarter revenues is pegged at $746.5 million, indicating growth of 36.1% from the year-ago reported figure.

The strong top-line performance, along with lower sales freight charges and continued module cost reductions, is likely to have bolstered First Solar’s bottom-line performance. In December 2023, the company entered into an agreement with Pfizer, which resulted in sales of approximately $687 million of the 2023 Section 45X tax credits. This is also expected to have aided the company’s quarterly earnings.

However, increased ramp-up production costs associated with the increased production rate at its manufacturing facilities might have had some adverse impact on FSLR’s overall first-quarter earnings.

The Zacks Consensus Estimate for First Solar’s first-quarter earnings is pegged at $2.03 per share, implying a massive 407.5% improvement from the prior-year reported figure of 40 cents.

The company’s agreement with Pfizer is expected to earn aggregate cash proceeds of $659 million, of which it received an initial $336 million in January 2024. The company expects to receive the remaining cash proceeds by the end of April 2024. This must have boosted its cash flow from operating activities, which should get reflected once the company releases its quarterly results on May 1.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for FSLR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.

Earnings ESP: The company’s Earnings ESP is -5.04%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: First Solar currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are three companies from the solar industry that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

Canadian Solar (CSIQ Free Report) currently has an Earnings ESP of +29.52% and a Zacks Rank #3. The Zacks Consensus Estimate for CSIQ’s first-quarter sales is pegged at $1.28 billion.

The consensus estimate for first-quarter earnings is pegged at a loss of 26 cents per share. The stock has a four-quarter average earnings surprise of 56.24%.

Nextracker (NXT Free Report) currently has an Earnings ESP of +23.75% and a Zacks Rank #3. The Zacks Consensus Estimate for NXT’s first-quarter sales is pegged at $681.8 million, implying an improvement of 31.5% from the prior-year quarter’s reported figure.

The consensus mark for the company’s first-quarter earnings is pegged at 60 cents per share, implying an improvement of 185.7% from the prior-year quarter’s reported figure. NXT has a four-quarter average earnings surprise of 56.26%.

Sunrun (RUN Free Report) currently has an Earnings ESP of +19.46% and a Zacks Rank #3. The Zacks Consensus Estimate for Sunrun’s first-quarter sales is pegged at $478.8 million.

The consensus estimate for first-quarter earnings is pegged at a loss of 50 cents per share, implying a solid improvement from the year-ago quarter’s reported loss of $1.12.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


Zacks Names “Single Best Pick to Double”


From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.


It’s an American AI company that’s riding low right now, but it has rounded up clients like BMW, GE, Dell Computer, and Bosch. It has prospects for not just doubling but quadrupling in the year to come. Of course, all our picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock And 4 Runners Up



Source link

  • Related Posts

    Woman busted smuggling 350 Nintendo Switch game cards in her bra — Chinese customs officials intercept smuggler at checkpoint

    Chinese customs officials at the Liantang Port got more than they bargained for when an unusually busty woman was spotted among the incoming passengers. Noting her nervous behavior, they intercepted…

    Just in time for summer travel, Chase offers up to 90K Miles for new United Cardmembers

    Fortune Recommends™ has partnered with CardRatings for our coverage of credit card products. Fortune Recommends™ and CardRatings may receive a commission from card issuers.  If you’ve been cooped up all winter and are thinking…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Woman busted smuggling 350 Nintendo Switch game cards in her bra — Chinese customs officials intercept smuggler at checkpoint

    Woman busted smuggling 350 Nintendo Switch game cards in her bra — Chinese customs officials intercept smuggler at checkpoint

    Just in time for summer travel, Chase offers up to 90K Miles for new United Cardmembers

    Just in time for summer travel, Chase offers up to 90K Miles for new United Cardmembers

    Which stores accept EBT cards to make online payments?

    Which stores accept EBT cards to make online payments?

    YAY Moments launches payment cards

    YAY Moments launches payment cards

    Sotheby’s Bets on High-End Trading Cards with New Fanatics Partnership

    Sotheby’s Bets on High-End Trading Cards with New Fanatics Partnership

    Dads lost to ill health remembered in commemorative Father’s Day cards

    Dads lost to ill health remembered in commemorative Father’s Day cards