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.