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First Solar (FSLR) issued first quarter earnings that fell short of Wall Street estimates. The solar company also lowered its full-year sales and earnings guidance.
Market Domination Overtime Anchors Julie Hyman and Josh Lipton report the breaking numbers.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
First Solar, the solar panel maker sinking after it cut its net sales forecast for the full year here. Uh if you look at the numbers overall for First Solar, uh the company coming in with adjusted earnings per share in the first quarter of $1.95, 248 is what analysts were anticipating. So not only are we seeing that cut to the full year, we are also seeing that reduced number for the the first quarter. Now, in the statement here, when the company comes out with this uh forecast decrease for the full year, doesn't necessarily really explain what is going on here. The company cutting at their full year earnings forecast to 1250 to 1750 it looks like had been $17, $20. So in other words, there's much more of room for downside. This is even after the US imposed high high tariffs in the thousands of percent in some cases on solar panels imported into the United States. So at least in theory, First Solar would be one of the companies that would be best poised potentially to benefit from that.
I see the CEO here uh you know, trying to sound kind of a positive optimistic tone, despite the near-term challenges presented by the new tariff regime, he says, we believe that the long-term outlook for solar demand, particularly in our core US market remains strong, that First Solar remains well positioned to serve this demand. Says this belief is based on the unique profile of First Solar compared to its peers, as America's largest and most established solar module manufacturer. But clearly investors at least initially here in the after hours, not sharing in that that optimism.
Right, exactly.