Back to top

Image: Bigstock

First Solar (FSLR) Stock Climbs Higher on Q2 Revenues and Earnings Beat

Read MoreHide Full Article

First Solar Inc. (FSLR - Free Report) just released their second quarter fiscal 2016 earnings results, posting earnings of $0.87 per share and revenue of $934.4 million.

Currently, FSLR has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

First Solar:                                              

Beat earnings estimates. The company posted $0.87 per share, surpassing our Zacks Consensus Estimate of $0.58. These numbers exclude $0.74 for nonrecurring items.

Beat revenue estimates. The company saw revenue figures of $934.4 million, topping our estimate of $904 million.

Production for Q2 was $785MWdc, up 39% compared to the same quarter last year.

Lowered operating income guidance from $300-$370 million for 2016, and it now expects operating income to lie in a range from $205-$250 million.

FSLR was up $1.91, or 3.88%, to $51.15 as of 4:20 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at First Solar’s quarterly revenues over the last five years.

FIRST SOLAR INC Revenue (Quarterly)

FIRST SOLAR INC Revenue (Quarterly) | FIRST SOLAR INC Quote

First Solar Inc. manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.

Check back later for our full analysis onFirst Solar’s secondquarter earnings report!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 DaysClick to get this free report >>

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

First Solar, Inc. (FSLR) - free report >>