From the company, February 25:
First Solar, Inc. Announces Fourth Quarter and Full Year 2024 Financial Results and 2025 Guidance
- Net sales of $4.2 billion for 2024 and $1.5 billion for the fourth quarter
- Net income per diluted share of $12.02 for 2024 and $3.65 for the fourth quarter
- 2024 year-end net cash balance of $1.2 billion
- 2024 net bookings of 4.4 GW with an average selling price of 30.5 cents per watt, excluding adjusters, India domestic volume, and terminations
- 2025 net sales guidance of $5.3 billion to $5.8 billion
- 2025 earnings per diluted share guidance of $17.00 to $20.00
- 2025 year-end net cash balance guidance of $0.7 billion to $1.2 billion
TEMPE, Ariz.--(BUSINESS WIRE)-- First Solar, Inc. (Nasdaq: FSLR) (the “Company”) today announced financial results for the fourth quarter and year ended December 31, 2024.
Net sales for the fourth quarter were $1.5 billion, an increase of $0.6 billion from the prior quarter. The increase was primarily a result of increased module sales in the fourth quarter. Net sales for the full year 2024 were $4.2 billion compared to $3.3 billion in the prior year. This increase was primarily driven by a higher volume of modules sold to third parties.
The Company reported fourth quarter net income per diluted share of $3.65 and full year net income per diluted share of $12.02.
Cash, cash equivalents, restricted cash, restricted cash equivalents, and marketable securities, less debt at the end of the fourth quarter increased to $1.2 billion from $0.7 billion at the end of the prior quarter. The increase was primarily the result of the initial proceeds received from the sale of 2024 Section 45X tax credits and module segment operating cash flows, partially offset by capital expenditures associated with our Alabama and Louisiana facilities.
“In 2024, we continued building the foundations required for our long-term growth strategy,” said Mark Widmar, chief executive officer, First Solar. “Even as we maintained a highly selective approach to bookings, we expanded manufacturing capacity by commissioning our Alabama facility and progressed construction of our new Louisiana facility, established the infrastructure we anticipate will accelerate innovation with a new R&D center in Ohio, and produced and shipped a historic volume of modules.”
The complete 2025 guidance is as follows:....
....MUCH MORE
During the regular trading session the stock traded down $5.45 to settle at $$147.46.
In early after-hours trade the stock is up $4.54 to $152.00.
We'll have more after the 4:30 p.m. ET conference call, though it may have to wait until tomorrow.
Earlier today: "First Solar is Set to Post Q4 Earnings: What's in Store?" (FSLR)
