First Solar (FSLR, Financial) experienced a significant boost in its stock price, climbing 4% to above $170 per share. This rise came after Jefferies upgraded the stock's rating to a Buy. First Solar is currently the leading performer on the S&P 500 in early trading sessions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 32 analysts, the average target price for First Solar Inc (FSLR, Financial) is $199.82 with a high estimate of $277.00 and a low estimate of $100.00. The average target implies an upside of 18.27% from the current price of $168.96. More detailed estimate data can be found on the First Solar Inc (FSLR) Forecast page.
Based on the consensus recommendation from 39 brokerage firms, First Solar Inc's (FSLR, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for First Solar Inc (FSLR, Financial) in one year is $299.49, suggesting a upside of 77.26% from the current price of $168.955. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the First Solar Inc (FSLR) Summary page.
FSLR Key Business Developments
Release Date: April 29, 2025
- Revenue: $0.8 billion in Q1 2025, reflecting a $0.7 billion decrease from the previous quarter.
- Gross Margin: 41% in Q1 2025, up from 37% in the prior quarter.
- Earnings Per Diluted Share: $1.95, below the low end of guidance range.
- Module Sales: 2.9 gigawatts in Q1 2025.
- Production: 4.0 gigawatts in Q1 2025, including 2 gigawatts of Series 6 and 2 gigawatts of Series 7 modules.
- Contracted Backlog: 66.1 gigawatts as of March 31, 2025, with an aggregate value of $19.8 billion.
- Cash and Marketable Securities: $0.9 billion at the end of Q1 2025, a decrease of $0.9 billion from year-end 2024.
- Operating Income: $221 million in Q1 2025.
- SG&A, R&D, and Production Start-up Expenses: $123 million in Q1 2025.
- Capital Expenditures: $206 million in Q1 2025.
- Full-Year 2025 Guidance - Net Sales: $4.5 billion to $5.5 billion.
- Full-Year 2025 Guidance - Earnings Per Diluted Share: $12.50 to $17.50.
- Full-Year 2025 Guidance - Gross Margin: $1.96 billion to $2.47 billion, approximately 44%.
- Full-Year 2025 Guidance - Capital Expenditures: $1 billion to $1.5 billion.
- Full-Year 2025 Guidance - Net Cash Balance: $0.4 billion to $0.9 billion by year-end.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- First Solar Inc (FSLR, Financial) secured net bookings of 0.6 gigawatts at a base ASP of $0.305 per watt, increasing their contracted backlog to 66.3 gigawatts.
- The company produced 4.0 gigawatts in Q1, including 2 gigawatts of Series 6 and 2 gigawatts of Series 7 modules, meeting their production forecasts.
- Initial data from the CuRe technology modules indicates enhanced energy profiles and industry-leading annual degradation rates.
- First Solar Inc (FSLR) is expanding its domestic capacity, with the Alabama factory ramping up and the Louisiana facility on track to begin commercial operations in the second half of the year.
- The company maintains a strong long-term outlook for solar demand, particularly in the US market, and is well-positioned due to its unique profile as a US-headquartered PV manufacturer with a vertically integrated presence.
Negative Points
- Q1 earnings per diluted share were below the low end of guidance at $1.95 per share, primarily due to a greater portion of international sales versus US product.
- The new tariff regime, including potential reciprocal tariffs, poses significant economic challenges for First Solar Inc (FSLR), particularly affecting their manufacturing facilities in India, Malaysia, and Vietnam.
- There is uncertainty surrounding the potential reinstatement of reciprocal tariffs after a 90-day pause, creating challenges in quantifying precise tariff rates for module shipments.
- The company faces increased project costs and potential shipment delays due to the new tariffs, impacting their financial guidance for the year.
- First Solar Inc (FSLR) may need to reduce or idle production at their Malaysia and Vietnam factories if the announced reciprocal tariffs are implemented, affecting their international production capacity.
