Thursday, April 28, 2016

"First Solar Crushes Q1 Earnings, Shares Slide on Revenue Miss" (FSLR)

In late pre-market trade the stock is off 3 1/2% at $59.85.
From Zacks:
First Solar, Inc. announced financial results for the first quarter of fiscal 2016, posting earnings of $1.66 per share and net sales of $848 million.
Currently, First Solar has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
First Solar:

1. Beat earnings estimates: The company posted $1.66 per share, surpassing our Zacks Consensus Estimate of $0.91.

2. Missed revenue estimates: The company saw revenue figures of $848 million, completely missing our estimate of $962 million.

3. First Solar raised the low end of its 2016 earnings per share guidance from $4.00 to $4.10...