First Solar Stock Price, News & Analysis

First Solar, Inc. (Nasdaq: FSLR) has set new industry benchmarks in sustainable solar technology, as detailed in its 2024 Sustainability Report. The company's Series 6 Plus and Series 7 TR1 modules are the world's first to achieve EPEAT Climate+ ultra low-carbon designation. First Solar leads in high-value solar recycling with a 95% global average material recovery rate and operates facilities across five countries. The company received top ratings in the 2023 Renewable Energy Human Rights Benchmark report and achieved platinum status in social audits across its global manufacturing footprint. First Solar is expanding its manufacturing capacity from 16 GW in 2023 to over 25 GW by 2026, with new facilities in Alabama and Louisiana.

National Grid Renewables has begun construction on the Dodson Creek Solar Project in Highland County, Ohio. This 117 MW project, located in the PJM market, is expected to generate $49 million in direct economic benefits for the local community. It's the company's fourth project in Ohio and second in Highland County, contributing to a total 558.5 MW portfolio in the state.

The project will create approximately 200 construction jobs and is contracted with Kiewit as the EPC partner. It will use First Solar's Series 7 modules, manufactured in Ohio. Once operational in mid-2025, Dodson Creek is anticipated to produce $21 million in new tax revenue for local entities and avoid an estimated 198,400 metric tons of CO2 emissions annually. National Grid Renewables has also pledged $585,000 to Highland County charities through a dedicated fund.

First Solar (FSLR) reported strong Q2 2024 financial results, with net sales of $1.0 billion, up $0.2 billion from Q1, and net income per diluted share of $3.25, compared to $2.20 in Q1. The company maintains its full-year 2024 guidance, projecting net sales of $4.4B to $4.6B and earnings per diluted share of $13.00 to $14.00. First Solar's net cash balance decreased to $1.2 billion from $1.4 billion in Q1, primarily due to capital expenditures for new U.S. factories.

The company reported year-to-date net bookings of 3.6 GW, with 0.9 GW since the Q1 earnings call, at an average selling price of 31.6 cents per watt. First Solar's expected sales backlog stands at an impressive 75.9 GW. The company continues to focus on balanced growth, profitability, and liquidity, leveraging its technological and business model differentiation.

First Solar (NASDAQ: FSLR) has announced its ownership of patents related to Tunnel Oxide Passivated Contact (TOPCon) crystalline-silicon photovoltaic solar cell manufacturing. These patents, acquired through the 2013 purchase of TetraSun, are valid in multiple countries including the United States, Canada, China, and Japan, with validities extending to 2030. First Solar is initiating an investigation into potential patent infringement by several crystalline silicon solar manufacturers.

The company is evaluating options to protect its intellectual property, including asserting patent rights against potential infringers. First Solar's Executive VP and General Counsel, Jason Dymbort, emphasized the company's commitment to leveraging these patents in developing next-generation PV technologies across multiple semiconductor platforms.

First Solar (Nasdaq: FSLR) has commissioned the Jim Nolan Center for Solar Innovation in Lake Township, Ohio, the largest solar R&D facility in the Western Hemisphere. This 1.3 million square foot center, part of a $500 million investment in R&D infrastructure, includes a high-tech pilot manufacturing line for full-sized thin film and tandem PV module prototypes.

The company also announced a new world record of 23.1% efficient CdTe cells, certified by NREL. First Solar plans to expand its global manufacturing capacity from 16.6 GW in 2023 to over 25 GW by 2026, with 14 GW in the US. These investments are expected to create about 300 new R&D jobs by 2025 and support an estimated 30,060 direct, indirect, and induced jobs across the US by 2026.

First Solar (NASDAQ: FSLR) will announce its financial results for the second quarter ending June 30, 2024, on July 30, 2024. The company will release the results after the market closes, with a conference call scheduled for 4:30 PM ET that day. The live webcast and its replay will be available on the company's investor website.

First Solar (NASDAQ: FSLR) has announced that its Series 6 Plus and Series 7 TR1 photovoltaic (PV) solar modules are the first to achieve the EPEAT Climate+ designation. This designation sets a new global standard for ultra-low carbon solar, establishing benchmarks for quality, durability, and environmental performance with an ultra-low carbon threshold of ≤400 kg CO2e/kWp.

EPEAT, a globally recognized ecolabel, evaluates the entire lifecycle of solar modules, including manufacturing energy use, product packaging, and end-of-life recycling. First Solar's Series 7 modules currently have the lowest carbon and water footprint of any commercially available PV module, positioning the company as a leader in sustainable solar technology. The company plans to validate its Series 7 FT1 module, manufactured in India, for future EPEAT Climate+ designation.

First Solar, Inc. announced their first-quarter 2024 financial results, reporting net sales of $794 million, net income per diluted share of $2.20, and a net cash balance of $1.4 billion. They maintained their full-year 2024 P&L guidance, with YTD net bookings of 2.7 GW and an expected sales backlog of 78.3 GW. The company showcased good operating performance, selective bookings, and solid financial results, driven by their differentiated technology and balanced business model.

First Solar, Inc. announced that MN8 Energy has ordered 457 MW of advanced thin film solar modules for projects in the US. MN8 aims to strengthen the domestic supply chain and promote responsible solar practices. First Solar is a major player in US solar manufacturing, supporting thousands of jobs and investing in new facilities for future growth. The company continues to expand and innovate in the renewable energy sector.