share_log

First Solar | 8-K: First Solar, Inc. Announces Second Quarter 2024 Financial Results

SEC announcement ·  Jul 31 04:06
Summary by Futu AI
First Solar, Inc. reported its financial results for the second quarter ended June 30, 2024, with net sales reaching $1.0 billion, marking an increase from the previous quarter. The company's net income per diluted share rose to $3.25, up from $2.20 in the first quarter. Despite capital expenditures for new U.S. factories and repayment of loans in India, the net cash balance decreased slightly to $1.2 billion. CEO Mark Widmar expressed satisfaction with the company's performance and maintained the full-year 2024 guidance, which includes net sales of $4.4B to $4.6B and earnings per diluted share of $13.00 to $14.00. The company also reported year-to-date net bookings of 3.6 GW and an expected sales backlog of 75.9 GW. The financial outlook remains unchanged, with the anticipation of approximately 40% of net sales and cost of sales in the third quarter and 60% in the fourth quarter, excluding certain tax credits. The conference call held on July 30, 2024, provided further insights into the company's financial health and strategic direction.
First Solar, Inc. reported its financial results for the second quarter ended June 30, 2024, with net sales reaching $1.0 billion, marking an increase from the previous quarter. The company's net income per diluted share rose to $3.25, up from $2.20 in the first quarter. Despite capital expenditures for new U.S. factories and repayment of loans in India, the net cash balance decreased slightly to $1.2 billion. CEO Mark Widmar expressed satisfaction with the company's performance and maintained the full-year 2024 guidance, which includes net sales of $4.4B to $4.6B and earnings per diluted share of $13.00 to $14.00. The company also reported year-to-date net bookings of 3.6 GW and an expected sales backlog of 75.9 GW. The financial outlook remains unchanged, with the anticipation of approximately 40% of net sales and cost of sales in the third quarter and 60% in the fourth quarter, excluding certain tax credits. The conference call held on July 30, 2024, provided further insights into the company's financial health and strategic direction.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.