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What's in the Cards for First Solar (FSLR) in Q4 Earnings?
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First Solar, Inc. (FSLR - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 27, after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 19.62%. First Solar has a trailing four-quarter average earnings surprise of 28.97%.
Factors to Note
Thanks to solid contracts won by First Solar in the prior quarters, increased contract revenues must have bolstered its fourth-quarter sales. Ramp up in production of its Series 7 modules, backed by solid demand, and the consequent strong volumes sale of these modules are also likely to have added an impetus to the company’s top line in the fourth quarter of 2023.
However, lower non-module revenues associated with project earn-outs from FSLR’s former systems business might have had some adverse impact on its overall top-line performance.
The Zacks Consensus Estimate for FSLR’s fourth-quarter revenues is pegged at $1.31 billion, indicating growth of 30.8% from the year-ago reported figure.
The strong top-line performance is likely to have aided the bottom line in the fourth quarter. An increase in module average selling price, lower sales freight costs and higher volumes of modules produced and sold in the United States must have contributed to its gross margins. This, along with lower ramp-utilization cost, might have bolstered FSLR’s overall fourth-quarter earnings.
The Zacks Consensus Estimate for First Solar’s fourth-quarter earnings is pegged at $3.19 per share, implying a massive improvement from the prior-year reported loss of 7 cents per share.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for FSLR 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, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -0.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three companies from the same sector that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Delek US Holdings (DK - Free Report) currently has an Earnings ESP of +6.40% and a Zacks Rank #3. The Zacks Consensus Estimate for fourth-quarter sales is pegged at $3.81 billion.
The consensus estimate for DK’s fourth-quarter earnings is pegged at a loss of $1.28 per share. The stock has a four-quarter average earnings surprise of 34.16%.
FuelCell Energy (FCEL - Free Report) currently has an Earnings ESP of +31.03% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter fiscal 2024 sales is pegged at $21.8 million.
The consensus mark for the company’s fiscal first-quarter earnings is pegged at a loss of 7 cents per share. FCEL has a four-quarter average earnings surprise of 13.39%.
Constellation Energy Corp. (CEG - Free Report) currently has an Earnings ESP of +1.48% and a Zacks Rank #2. The Zacks Consensus Estimate for Constellation Energy’s fourth-quarter 2023 sales is pegged at $7.76 billion, implying an improvement of 5.9% from the prior-year reported figure.
CEG delivered a trailing four-quarter average earnings surprise of 37.04%. The consensus estimate for fourth-quarter earnings is pegged at $1.70 per share, implying a massive improvement from the year-ago quarter’s level of 10 cents.
Image: Shutterstock
What's in the Cards for First Solar (FSLR) in Q4 Earnings?
First Solar, Inc. (FSLR - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 27, after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 19.62%. First Solar has a trailing four-quarter average earnings surprise of 28.97%.
Factors to Note
Thanks to solid contracts won by First Solar in the prior quarters, increased contract revenues must have bolstered its fourth-quarter sales. Ramp up in production of its Series 7 modules, backed by solid demand, and the consequent strong volumes sale of these modules are also likely to have added an impetus to the company’s top line in the fourth quarter of 2023.
First Solar, Inc. Price and EPS Surprise
First Solar, Inc. price-eps-surprise | First Solar, Inc. Quote
However, lower non-module revenues associated with project earn-outs from FSLR’s former systems business might have had some adverse impact on its overall top-line performance.
The Zacks Consensus Estimate for FSLR’s fourth-quarter revenues is pegged at $1.31 billion, indicating growth of 30.8% from the year-ago reported figure.
The strong top-line performance is likely to have aided the bottom line in the fourth quarter. An increase in module average selling price, lower sales freight costs and higher volumes of modules produced and sold in the United States must have contributed to its gross margins. This, along with lower ramp-utilization cost, might have bolstered FSLR’s overall fourth-quarter earnings.
The Zacks Consensus Estimate for First Solar’s fourth-quarter earnings is pegged at $3.19 per share, implying a massive improvement from the prior-year reported loss of 7 cents per share.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for FSLR 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, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -0.82%. 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 #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three companies from the same sector that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Delek US Holdings (DK - Free Report) currently has an Earnings ESP of +6.40% and a Zacks Rank #3. The Zacks Consensus Estimate for fourth-quarter sales is pegged at $3.81 billion.
The consensus estimate for DK’s fourth-quarter earnings is pegged at a loss of $1.28 per share. The stock has a four-quarter average earnings surprise of 34.16%.
FuelCell Energy (FCEL - Free Report) currently has an Earnings ESP of +31.03% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter fiscal 2024 sales is pegged at $21.8 million.
The consensus mark for the company’s fiscal first-quarter earnings is pegged at a loss of 7 cents per share. FCEL has a four-quarter average earnings surprise of 13.39%.
Constellation Energy Corp. (CEG - Free Report) currently has an Earnings ESP of +1.48% and a Zacks Rank #2. The Zacks Consensus Estimate for Constellation Energy’s fourth-quarter 2023 sales is pegged at $7.76 billion, implying an improvement of 5.9% from the prior-year reported figure.
CEG delivered a trailing four-quarter average earnings surprise of 37.04%. The consensus estimate for fourth-quarter earnings is pegged at $1.70 per share, implying a massive improvement from the year-ago quarter’s level of 10 cents.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.