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What's in the Cards for First Solar's (FSLR) Q3 Earnings?
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First Solar, Inc. (FSLR - Free Report) is slated to report third-quarter 2021 results on Nov 4, after the closing bell.
In the last reported quarter, the company deliveredan earnings surprise of 28.33%. First Solar has a trailing four-quarter earnings surprise of 62.76%, on average.
Factors to Note
Strong market demand for CadTel technologyis expected to have contributed favorably to First Solar’s top-line performance in the third quarter.
However, the company has been witnessing lower shipments of late, primarily due to vessel delays and constrained customer container availability. The trend is expected to have sustained in the third quarter as well, with the company anticipating the current logistics environment to keep its 2021 shipment plans at risk. This, in turn, is likely to have reduced its sales rate, thus might have weighed on the third-quarter revenues.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $698.6 million, suggesting a decline of 24.7% from the year-ago reported figure.
From the cost perspective, rising transoceanic freight and elevated fuel cost are likely to have negatively impacted First Solar’s margins in the to-be reported quarter. Also, higher underutilization and production start-up expenses might have hurt its third-quarter earnings.
Benefits from better module efficiency, execution of Series 6 Plus, expansion of distribution network strategy in the United States and forward contracts are likely to have favored the to-be-reported quarter’sbottom-line performance.
The Zacks Consensus Estimate for the company’s third-quarter earnings is pegged at 63 cents per share,suggesting a decline of 56.6% from the year-ago quarter.
Our proven model does not conclusively predict an earnings beat for First Solar this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here.
Earnings ESP:The company’s Earnings ESP is -31.29%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: First Solar currently carries a Zacks Rank #5 (Strong Sell).
Image: Bigstock
What's in the Cards for First Solar's (FSLR) Q3 Earnings?
First Solar, Inc. (FSLR - Free Report) is slated to report third-quarter 2021 results on Nov 4, after the closing bell.
In the last reported quarter, the company deliveredan earnings surprise of 28.33%. First Solar has a trailing four-quarter earnings surprise of 62.76%, on average.
Factors to Note
Strong market demand for CadTel technologyis expected to have contributed favorably to First Solar’s top-line performance in the third quarter.
However, the company has been witnessing lower shipments of late, primarily due to vessel delays and constrained customer container availability. The trend is expected to have sustained in the third quarter as well, with the company anticipating the current logistics environment to keep its 2021 shipment plans at risk. This, in turn, is likely to have reduced its sales rate, thus might have weighed on the third-quarter revenues.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $698.6 million, suggesting a decline of 24.7% from the year-ago reported figure.
From the cost perspective, rising transoceanic freight and elevated fuel cost are likely to have negatively impacted First Solar’s margins in the to-be reported quarter. Also, higher underutilization and production start-up expenses might have hurt its third-quarter earnings.
Benefits from better module efficiency, execution of Series 6 Plus, expansion of distribution network strategy in the United States and forward contracts are likely to have favored the to-be-reported quarter’sbottom-line performance.
The Zacks Consensus Estimate for the company’s third-quarter earnings is pegged at 63 cents per share,suggesting a decline of 56.6% from the year-ago quarter.
First Solar, Inc. Price and EPS Surprise
First Solar, Inc. price-eps-surprise | First Solar, Inc. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for First Solar this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here.
Earnings ESP:The company’s Earnings ESP is -31.29%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: First Solar currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three Solar players you may want to consider, as these have the right combination of elements to post an earnings beat this season:
FTC Solar, Inc (FTCI - Free Report) has an Earnings ESP of +6.57% and a Zacks Rank #3.
Array Technologies(ARRY - Free Report) has an Earnings ESP of +146.67% and a Zacks Rank #3.
Sunrun (RUN - Free Report) has an Earnings ESP of +504.92% and a Zacks Rank #2.