Report
Stephen Simko
EUR 147.86 For Business Accounts Only

First Solar Reports Second-Quarter Results, Fair Value Estimate Lowered on Overcapacity Concerns

We have lowered our fair value estimate for First Solar to $44, reflecting the increasingly tough price environment facing solar. The company reported second-quarter earnings on Aug. 3, with revenue up 4% year over year at $934 million. The company attributed higher sales to increased third-party module sales on the Kingbird project in addition to revenue recognitions on its systems projects. For the quarter, First Solar recognized gross margins of 20%, much lower than the 31% reported in the fi...
Underlying
First Solar Inc.

First Solar is a provider of photovoltaic (PV) solar energy solutions. The company designs, manufactures and sells PV solar modules with a thin film semiconductor technology, and also develops and sells PV solar power systems that mainly use the modules it manufactures. The company also provides operations and maintenance (O&M) services to system owners. The company's modules segment involves the design, manufacture and sale of cadmium telluride solar modules, which convert sunlight into electricity. The company's second segment is its systems segment, through which it provides power plant solutions, which include project development, engineering, procurement, and construction services and O&M services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Stephen Simko

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch