Why Is First Solar Stock Falling After-Hours?

Shares of First Solar Inc FSLR are trading lower in the after-hours session Thursday after the company reported first-quarter financial results, here’s what investors need to know.

By The Numbers: FSLR reported first earnings of 40 cents per share, which came behind the 97-cent consensus estimate, on revenues of $548 million, which came behind the $722.96 million consensus estimate.

The solar panel manufacturer ended the quarter with $2 billion in cash and cash equivalents as of March 31, 2023.

“The first quarter of the year reflects this direction as we commissioned our latest factory in the United States and started production of our next generation Series 7 modules, progressed our technology roadmap with a new cell efficiency record, and continued our strong bookings and ASP momentum,” said FSLR CEO Mark Widmar.

The company said its 2023 guidance remains unchanged.

FLSR Price Action: The stock has a 52-week high of $221.88 and a 52-week low of $59.60. Shares are trading 3.6% lower to $193.50 during the after-hours session, according to data from Beniznga Pro.

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