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First Solar posts strong Q4 results, announces 445 W module

From pv magazine USA

In what has been a turbulent and uncertain year, First Solar has recorded another impressive fiscal quarter, and has reinstated its financial guidance for the fourth quarter.

The company was able to go beyond simply weathering the economic and manufacturing slowdowns that came with the pandemic successfully. “The company and its financial results have not been materially impacted by Covid-19,” it said.

Financial highlights for the quarter:

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  • Net sales of $928 million, up from $642 million in the second quarter
  • Net income per share of $1.45, a nearly 300% increase over $0.35 in the second quarter
  • Net cash of $1.4 billion
  • 1.6 GW DC of bookings

The company also said it has started production of a 445 W module, but it did not provide any additional details.

It expects fourth-quarter net sales of $540 million to $790 million, and between $2.6 million and $2.9 billion for the full year. Shipments are expected to hit 1.8 GW to 2.0 GW in the fourth quarter and 5.5 GW to 5.7 GW for the year.

In the third quarter, First Solar’s Series 6 module line also became the world’s first PV product to be included in the launch of the EPEAT Photovoltaic and Inverters product category. EPEAT is a life-cycle based Type-1 ecolabel used by public and private sector purchasers to allow for easy identification of credibly sustainable electronic products. Series 6 was awarded an EPEAT Silver rating.

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Source: pv magazine