First Solar quarterly profit rises on higher module sales
FSLR•Second-quarter results and outlook
- Solar power has become one of the fastest-expanding sectors of the U.S. energy industry, fueled by growing demand from businesses and governments seeking cleaner energy and urgent action on climate change.
- First Solar's net sales for the quarter came in at $1.06 billion, down from $1.10 billion a year ago, but in line with analysts' average estimates, according to data compiled by LSEG.
- Net sales dropped primarily due to lower revenue following customer contract terminations.
- The company expects module sales to be between 3.9 GW and 4.5 GW in the third quarter.
- It reported a quarterly net income of $422.5 million, or $3.92 per share, compared with $341.9 million, or $3.18 per share, from the year-ago period.
Quarterly profit rises on higher module sales
July 30 (Reuters) - First Solar FSLR.O, the biggest U.S.-based solar panel maker, on Thursday posted a rise in second-quarter profit, helped by higher volume of modules sold to third parties.
Shares of the company were up over 3% in extended trading.
