First Solar Inc (XSWX:FSLR)

CHF 62.96 (0%) Market Cap: 8.61 Bil Enterprise Value: 8.41 Bil PE Ratio: 15.29 PB Ratio: 2.35 GF Score: 89/100

Q4 2024 First Solar Inc Earnings Call Transcript

Feb 25, 2025 / 09:30PM GMT

Transcript 10-K8-K8-K

Key Points

Positve

First Solar Inc (FSLR) achieved record net sales of $4.2 billion in 2024, representing a 27% increase year-on-year.
The company sold a record 14.1 gigawatts of modules in 2024.
First Solar Inc (FSLR) exited 2024 with approximately 21 gigawatts of global nameplate manufacturing capacity, an increase of over 4 gigawatts from 2023.
The company is on track to begin commercial operations at its new $1.1 billion Louisiana manufacturing facility in the second half of 2025.
First Solar Inc (FSLR) has a significant contracted backlog totaling 68.5 gigawatts with an average ASP of $0.30 per watt.

Negative

Full year diluted EPS came in below the low end of guidance at $12.02 per share.
Warranty charges related to Series 7 manufacturing issues are estimated to result in total charges ranging from $56 million to $100 million.
The company experienced higher-than-anticipated ramp-related charges at its new Alabama facility.
First Solar Inc (FSLR) is facing near-term headwinds for its international production due to policy environment uncertainties in key markets.
The company has reduced output of Series 6 international product from its Malaysia and Vietnam factories by a combined total of 1 gigawatt in 2025.

Operator

Good afternoon, everyone, and welcome to First Solar's Q4 and full year 2024 earnings and 2025 guidance call. This call is being webcast live on the investors section of First Solar's website at investor.firstsolar.com. All participants are in a listen-only mode, and please note that today's call is being recorded.

I would now like to turn the conference over to your host, Byron Jeffers, Head of Investor Relations. Please go ahead, sir.

Byron Jeffers

First Solar Inc - Head of Investor Relations

Good afternoon and thank you for joining us on today's earnings call. Joining me today are our Chief Executive Officer, Mark Widmar, and our Chief Financial Officer, Alex Bradley.

During this call, we will review our financial performance for 2024, discuss our future business outlook for 2025. Following our remarks, we will then open the call for questions.

Before we begin, please note that some statements made today are forward-looking and involve the risks and uncertainties that could cause actual results to differ materially from

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