First Solar's Backlog Keeps Growing as Healthy Demand Remains Tailwind
We are reaffirming our $58 per share fair value estimate for First Solar after it reported a loss of $0.64 per share in the first quarter of 2019. The loss for the quarter was expected, and we are maintaining our full-year earnings estimate. We are also reaffirming our no-moat and stable moat trend ratings.Higher startup costs for the company’s new factories and lower closed sales in the quarter weighed on results. We expect the timing of project sales will reverse in the second half. Managemen...
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.
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.
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