logo
Plus   Neg
Share
Email

First Solar Cuts Earnings Guidance On Timing Of Systems Project Sale

First Solar, Inc. (FSLR) announced its guidance ranges for 2018 have been updated as a result of lower expected module sales, higher manufacturing ramp costs and the revised expectation that the Ishikawa project in Japan will now be sold in 2019. Earnings per share are now projected in a range of $1.40 to $1.60, down from prior guidance range of $1.50 to $1.90. Net sales are expected to be in the range of $2.3 billion to $2.4 billion, down from previous guidance range of $2.5 billion to $2.6 billion.

For the third-quarter, net sales were $676 million; and earnings per share was $0.54. Cash and marketable securities at the end of the third quarter was at $2.7 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018. Shares of BMW Group declined around 5 percent in German trading after the auto giant reported Wednesday weak profit in its fiscal year 2018, despite a 0.1 percent growth in Automotive revenues with higher deliveries. Looking ahead for fiscal 2019, the company expects Group profit before tax will be well below the previous year's level. BMW said it is confident of volume growth in Automotive unit.
Follow RTT