First Solar
The 10-second takeaway
For the quarter ended March 31 (Q1), First Solar beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share grew. GAAP earnings per share grew.
Margins increased across the board.
Revenue details
First Solar chalked up revenue of $755.2 million. The 20 analysts polled by S&P Capital IQ wanted to see a top line of $726.0 million on the same basis. GAAP reported sales were 52% higher than the prior-year quarter's $497.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.69. The 19 earnings estimates compiled by S&P Capital IQ predicted $0.75 per share. Non-GAAP EPS were $0.69 for Q1 against -$0.08 per share for the prior-year quarter. GAAP EPS were $0.66 for Q1 compared to -$5.20 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 22.4%, 700 basis points better than the prior-year quarter. Operating margin was 8.4%, much better than the prior-year quarter. Net margin was 7.8%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Looking ahead
Next quarter's average estimate for revenue is $937.5 million. On the bottom line, the average EPS estimate is $1.07.
Next year's average estimate for revenue is $3.84 billion. The average EPS estimate is $4.24.
Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 3,148 members out of 3,897 rating the stock outperform, and 749 members rating it underperform. Among 588 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 402 give First Solar a green thumbs-up, and 186 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 $26.56.
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.
