First Solar Plummets on Q4 Results, Weak Outlook
First Solar (NASDAQ: FSLR) released its fiscal fourth-quarter results on Tuesday after the closing bell. In after-hours trading, the stock was last down around 9 percent to $28.40.
The company reported net income of $154.2 million or $1.74 per share, compared to a net loss of $413.1 million or $4.74 per share, in last year's corresponding quarter.
Adjusted net income was $180.4 million or $2.04 per share. This came in ahead of Wall Street analysts' consensus EPS estimates of $1.51.
Sales in the quarter were $1.08 billion, a sharp rise from the $660.4 million in sales First Solar reported last year. This came in below Wall Street consensus revenue estimates of $1.32 billion.
Looking ahead to Q1, First Solar guided for EPS of $0.70 to $0.90 on revenue of $650 million to $750 million. This compares to current consensus estimates calling for EPS of $0.94 on revenue of $828.95 million.
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