The 10-second takeaway
For the quarter ended Dec. 31 (Q4), First Solar whiffed on revenues and earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
First Solar booked revenue of $660.0 million. The 30 analysts polled by S&P Capital IQ foresaw sales of $781.4 million on the same basis. GAAP reported sales were 8.3% higher than the prior-year quarter's $609.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.26. The 19 earnings estimates compiled by S&P Capital IQ anticipated $1.59 per share on the same basis. GAAP EPS were -$4.78 for Q4 against $1.80 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 20.9%, 3,190 basis points worse than the prior-year quarter. Operating margin was -6.1%, 3,710 basis points worse than the prior-year quarter. Net margin was -62.6%, 8,820 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $748.1 million. On the bottom line, the average EPS estimate is $0.84.
Next year's average estimate for revenue is $3.72 billion. The average EPS estimate is $4.15.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 3,200 members out of 3,907 rating the stock outperform, and 707 members rating it underperform. Among 726 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 536 give First Solar a green thumbs-up, and 190 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on First Solar is hold, with an average price target of $39.42.
Is First Solar the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-Dollar Revolution." Click here for instant access to this free report.
- Add First Solar to My Watchlist.