On April 27, 2023, First Solar announced its Q1 results, which were below market expectations. As a result, the company’s shares traded lower, dropping more than 16% during extended trading. The solar-manufacturing industry faced various challenges, including supply chain disruptions, logistics issues, and pandemic-related problems, according to CEO Mark Widmar.
Despite the challenging environment, First Solar managed to generate solid financial results for the second quarter of 2022, surpassing both top and bottom line estimates. The company reported net sales of $621 million, which was a significant increase from the previous quarter.
Compared to other solar companies, First Solar has a history of strong margins, profits, and reliable revenue. In contrast, companies like Canadian Solar have focused on aggressive revenue growth, which may come at the expense of profitability.
First Solar Inc. （FSLR） Projects Massive Earnings Growth for 2023 and Beyond
On April 27, 2023, First Solar Inc. （FSLR） opened at $200.83, slightly higher than its previous close of $199.51. First Solar has a market cap of $23.2 billion, and its earnings growth rate for the past year was -109.40%. However, the company’s earnings growth for this year is projected to be +1,866.98%, and its earnings growth rate for the next five years is expected to be +42.10%. First Solar’s P/E ratio is not available （NM）， but its price/sales ratio is 6.09, and its price/book ratio is 3.96. In terms of stock performance, First Solar’s share price dropped by -1.23% or -$5.57 on April 27, 2023.
First Solar Incs Stock Forecast: Analysts Predict 12% Potential Increase
On April 27, 2023, First Solar Inc’s stock （FSLR） closed at a price of 200.78. However, according to the 22 analysts who offer 12-month price forecasts for the company, the median target price is 225.00. This suggests a potential increase of 12.06% from the current price.
