Solar panel manufacturer First Solar (NASDAQ: FSLR) will be announcing earnings results this Thursday after market close. Here’s what to look for.
First Solar beat analysts’ revenue expectations last quarter, reporting revenues of $1.68 billion, up 11.1% year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly.
Is First Solar a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting First Solar’s revenue to grow 21.9% year on year, improving from the 6.4% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Solar has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at First Solar’s peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 130%, beating analysts’ expectations by 42%, and Enphase reported a revenue decline of 20.6%, in line with consensus estimates.
Read our full analysis of Bloom Energy’s results here and Enphase’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 14.1% on average over the last month. First Solar is up 6.3% during the same time and is heading into earnings with an average analyst price target of $245.07 (compared to the current share price of $196.26).
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