Quick answer: latest quarter results, by ticker or company name

Reported Q: Q1 2024 Rev YoY: +44.8% EPS YoY: +452.5% Move: -6.67%

First Solar Inc

FSLR

$218.73 -6.67%

Exchange NASDAQ Sector Energy Industry Solar

Q1 2024

Published: May 1, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for FSLR

Reported

Report Date

May 1, 2024

Quarter Q1 2024

Revenue

794.11M

YoY: +44.8%

EPS

2.20

YoY: +452.5%

Market Move

-6.67%

Previous quarter: N/A

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Earnings Highlights

Revenue of $794.11M up 44.8% year-over-year
EPS of $2.20 increased by 452.5% from previous year
Gross margin of 43.4%
Net income of 236.62M
""We invite competition and free trade. All we continue to seek is that the competition and trade are practiced on a fair and level playing field," - Mark Widmar, CEO." - Mark Widmar

FSLR

First Solar Inc

Period Q1 2024

Currency USD

Report Type Quarterly Earnings

Generated Feb 9, 2026

Executive Summary

First Solar Inc reported a robust Q1 2024 performance, generating revenues of $794 million, reflecting a 44.83% year-on-year increase despite a seasonal decline of 31.46% compared to Q4 2023. The company demonstrated effective management in a volatile solar market, with operating income reaching $256 million and net income of $237 million, translating to an EPS of $2.20. Management emphasized the importance of strategic partnerships, sustained investment in research and development (R&D), and a commitment to maintaining a competitive edge through proprietary technology amid challenges posed by Chinese market practices. Overall, First Solar is positioned to benefit from its disciplined growth strategy and a solid backlog of 78.3 gigawatts, while navigating industry headwinds effectively.

Key Performance Indicators

Revenue

Increasing

794.11M

QoQ: -31.46% | YoY: 44.83%

Gross Profit

Increasing

344.85M

43.43% margin

QoQ: -31.31% | YoY: 207.77%

Operating Income

Increasing

256.29M

QoQ: -35.57% | YoY: 504.66%

Net Income

Increasing

236.62M

QoQ: -32.25% | YoY: 455.95%

EPS

Increasing

2.21

QoQ: -32.42% | YoY: 452.50%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue and Profitability: Q1 2024 revenue of $794 million, down from $1.16 billion in Q4 2023, but significantly up from $548 million YoY. Gross profit margins improved to 44% from 43% in Q4 2023, driven by U.S.-made modules benefiting from Section 45X tax credits. Operating income amounted to $256 million, translating to a 32.27% operating margin. Net income was $237 million with a net profit margin of 29.80%. EPS was reported at $2.20.

Cash Flow and Balance Sheet: The company ended Q1 2024 with cash and cash equivalents of $1.69 billion, down from $1.96 billion due to capital expenditures of $413 million for new factories. Operating cash flow stood at $267 million, showcasing healthy operational efficiency despite a higher capital expenditure commitment. Total debt increased to $620 million, maintaining a conservative leverage ratio.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	794.11M	44.83%	-31.46%
Gross Profit	344.85M	207.77%	-31.31%
Operating Income	256.29M	504.66%	-35.57%
Net Income	236.62M	455.95%	-32.25%
EPS	2.21	452.50%	-32.42%

Key Financial Ratios

Gross Profit Margin

Good

43.40%

Gross profit margin is healthy and competitive within industry standards

Operating Profit Margin

Excellent

32.30%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Excellent

29.80%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Weak

2.20%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

3.43%

Return on equity suggests inefficient capital allocation

Current Ratio

Healthy

2.41

Current ratio shows adequate liquidity to meet short-term obligations

Debt to Equity

Conservative

0.10

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

Fair Value

19.41x

P/E ratio in line with market averages

Price to Book

Fair Value

2.66x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2025	844.57	1.95	+6.4%	View
Q4 2024	1,514.03	3.65	+30.7%	View
Q3 2024	887.67	2.91	+10.8%	View
Q2 2024	1,010.48	3.25	+24.7%	View
Q1 2024	794.11	2.20	+44.8%	View

First Solar Inc (FSLR) Q1 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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