First Solar, Inc. (FSLR) is a leader in solar technology along with providing responsibly-produced eco-efficient solar modules internationally for progressing the climate change fight. Its thin-film photovoltaic modules characterize the next-generation solar technologies, thus providing a low-carbon substitute to crystalline silicon PV panels.
The price of FSLR stock during the regular trading on March 1, 2022, was $75.6 with a slight gain of 0.44%. at last check in the aftermarket, the stock nose-dived by 15.6%.
FSLR: Key Financials
On March 01, 2022, FSLR released its financial statement for the fourth quarter of 2021 ended December 31, 2021. Some of the important points are discussed below.
Net Sales
Net sales in Q4 2021 were $0.9 billion as compared to $0.6 billion in the same period of 2020. The company observed an increase of $0.3 billion in its net sales over the year. Also, it missed the analyst’s expectations of the revenue of $924 million.
EPS
Diluted net income per share in the fourth quarter of 2021 was $0.13 billion or $1.23 compared to $45.2 million or $1.08 in the same quarter of a year ago. The company observed a significant increase in its EPS over the year. Also, the company topped the EPS estimates of $1.08.
FSLR: Events and Happenings
On January 13, 2022, FSLR reported the placement of an order from Swift Current Energy for 1.2 gigawatts of advanced, ultra-low thin-film PV modules. The modules will be delivered by 2023-2024. On December 17, 2021, Prairie Wolf Solar Project, which uses FSLR’s Series 6 thin-film solar modules, its commercial operation was initiated by National Grid Renewables. The MISO located project claims 200 megawatts of clean solar power.
ON November 22, 2021, FSLR updated on the placement of multiple-year orders by the leading companies including Lightsource bp and bp. for approximately 5.4 gigawatts of its thin-film PV modules. As part of the contract, both the companies had placed firm orders for up to 4.4GW of the modules, with options for supplementary 1GW.
Conclusion
FSLR stock is 20% short the past six months as the company down-performed in the pandemic period. The recent aftermarket stock drop is the outcome of the company’s financial statement release which missed the revenue target but topped the EPS estimates.
