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First Solar (FSLR) Tops Q2 EPS by 32c, Lowers FY EPS Guidance

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August 3, 2016 4:06 PM EDT

First Solar (NASDAQ: FSLR) reported Q2 EPS of $0.87, $0.32 better than the analyst estimate of $0.55. Revenue for the quarter came in at $934.4 million versus the consensus estimate of $862.68 million.

GUIDANCE:

First Solar sees FY2016 EPS of $3.65-$3.90, versus prior guidance of $4.10-$4.50 and the consensus of $4.25.

The Company updated its 2016 earnings per share guidance and updated other forecasted items as follows:

2016 Guidance Prior GAAP Current GAAP Current Non-GAAP
Net Sales $3.8B to $4.0B Unchanged
Gross Margin % 18% to 19% 18.5% to 19%
Operating Expenses $380M to $400M $485M to $520M $380M to $400M
Operating Income $300M to $370M $205M to $250M $310M to $370M
Effective Tax Rate 16% to 18% 4% to 6% 16% to 18%
Earnings per Share1 $4.10 to $4.50 $3.65 to $3.90 $4.20 to $4.50
Net Cash Balance2 $1.9B to $2.2B Unchanged
Operating Cash Flow3 $500M to $700M

$500M to $650M
Capital Expenditures $300M to $400M $275M to $325M
Shipments 2.9GW to 3.0GW Unchanged

For earnings history and earnings-related data on First Solar (FSLR) click here.


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