Exclusive: Raymond James Analyst on Expectations for First Solar Earnings

Speaking to Benzinga, Raymond James & Associates Analyst Pavel Molchanov said that when it comes to First Solar, Inc. FSLR, Q4 earnings are substantially less important than where the guidance for 2015 is headed. The “real focus is not so much on earnings but on the guidance for 2015,” Molchanov said.

At its Analyst Day last year, First Solar guided to 2015 EPS of $4.50 to $6.00 in 2015. Molchanov characterized tonight’s report as an “important update” that should narrow the range.

Raymond James expects Q4 EPS of $0.85, however, Molchanov has “very low confidence” in this number. He points to the volatility in quarterly EPS as an example. During Q1, First Solar had EPS of $1.10, which fell to $0.04 in Q2 before rising to $0.65 in Q3. This volatility, Molchanov said, is the result of variations as to when First Solar can recognize revenue from current projects. 

Mark Meadows and Brianna Valleskey contributed to this report.

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Posted In: Analyst ColorEarningsNewsAnalyst RatingsPavel MolchanovRaymond James & Associates
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