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The Second Quarter 2019 Financial Results Are Out Of First Solar Inc.

The Second Quarter 2019 Financial Results Are Out Of First Solar Inc.

First Solar, Inc. (FSLR) today introduced financial outcomes for the second quarter ended June 30, 2019. Net sales for the second quarter have been $585 million, an increase of $53 million from the prior quarter, primarily because of the elevated module and system sales within the U.S. and Australia.

The Firm reported a second-quarter loss per share of $(0.18), compared to a loss per share of $(0.64) within the first quarter of 2019.

Restricted cash and marketable protection at the end of the second quarter decreased to $2.1 billion from $2.3 billion at the end of the prior quarter, primarily because of continued capital investments in Series 6 manufacturing capability.

“We continued to make essential progress in our Series 6 transition during Q2, with improvements throughout all manufacturing metrics,” stated Mark Widmar, CEO of First Solar. “We had report module production and shipments throughout the second quarter, and with our latest bookings success we are now essentially bought out through 2020, with significant bookings visibility into 2021.”

First Solar has programmed a conference call for today, August 1, 2019, at 4:30 p.m. ET to talk on this report. A webcast of this conference call and including supplies can be found at investor.firstsolar.com.

The guidance figures introduced above are topic to a variety of assumptions and estimates. Traders are inspired to listen to the conference call and to evaluate the accompanying supplies, which include more details about First Solar’s 2019 guidance.