Three months ago, the big news out of First Solar
The answer to that is a resounding "maybe." As with SunPower
As for the quarterly numbers, First Solar suffered from a glaring miss on the top line. $58 million in revenue couldn't be booked on a project in Canada because Enbridge
Looking beyond revenue, the German rebate brought gross margins down a few pegs, to 50.9% (down from 56.7% last quarter). As I said last time out, "the solar shop has a good bit of leeway in this little price war" thanks to profitability that's tracking well ahead of the firm's long-term goal. That remains the case. If anyone sold the stock yesterday on account of margin declines, they need to revisit the firm's analyst day presentation.
While far from being a snorting bull on solar stocks, I'm still surprised to see top shops being dealt with so savagely in this otherwise feel-good earnings season. I'm curious to see how Mr. Market will treat the results of Trina Solar