Plus   Neg

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

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT