Action Investments Limited - First Solar Inc. (FSLR) report a loss that was lower than expected

FSLR announces better-than-anticipated financial results with a smaller loss than expected, along with optimistic projections for the future.
 
SHEUNG WAN, Hong Kong - April 24, 2023 - PRLog -- After FSLR reported a significantly reduced loss and provided positive guidance for the entire year, it emerged as the top-performing stock in the S&P 500 (^GSPC)

FSLR's Q4 financial report showed a loss of $0.07 per share, which is less than half of what was expected by analysts. Meanwhile, the revenue surged by 59.4% to reach $1 billion, in line with the estimated figures.

According to CEO Mark Widmar, First Solar completed 2022 with an exceptional contracted backlog, a significant pipeline of booking opportunities and a strong balance sheet that has positioned them to capitalize on emerging prospects. Additionally, he stated that FSLR is commencing its fiscal year in a significantly enhanced commercial, operational and financial position.

FSLR forecasts its sales for the year 2023 to fall between $3.4 billion and $3.6 billion, with earnings per share (EPS) expected to be between $7 and $8, both surpassing the projected figures. The company's optimistic outlook is partly attributable to its expectation of receiving $660 million to $710 million in tax credits via the Inflation Reduction Act of 2022.

FSLR's stocks are experiencing a significant surge of 16%, bringing their total gains for the year to over 30%.

Please contact our team members to learn more about this unique financial building experience by way of good securities investment and portfolio management. Our aim is to make your wealth building journey, a simple and enjoyable experience. https://actioninvestmentsltd.com/

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Page Updated Last on: Nov 21, 2023



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