First Solar Inc

The power generation equipment industry is made up of various sub-industries, each with a structure of its own.

Canadian Solar’s revenues from the sale of electricity in 3Q17 totaled $9.6 million, which was marginally lower than $9.8 million in 2Q17.

JA Solar Holdings (JASO) reported $12.1 million as interest expense for 3Q17 compared to $12.4 million in 2Q17 and $11.3 million in 3Q16.

After launching TerraForm Power (TERP) in 2014, SunEdison (SUNE) launched an IPO of its much hyped emerging market yieldco, TerraForm Global (GLBL), in July 2015.

Extreme climate change events hamper productivity, thus affecting industries such as agriculture, fishing, energy, trade, transportation, and tourism.

First Solar (FSLR) rose 5.7% yesterday after 195 nations attending the Paris climate change conference reached a historic agreement to cut emissions to address climate change.

First Solar (FSLR) is expected to announce its 2Q16 earnings results on August 4, 2016, after market hours.

SolarCity is a vertically-integrated solar company. Despite advancing technology and expanding reach, it has seen negative earnings most years since 2007.

On December 2, 2016, GlobalWafers completed the acquisition of SunEdison Semiconductor for $683.0 million.

Solar stocks have been a sweet spot among equities this year. On average, they’ve gained 50% this year, notably outperforming broader markets.

While REITs started trading in 1951 and MLPs started off in 1981, the first yieldco was floated in 2005 by Seaspan Corporation, a shipping company.

While First Solar has traditionally been manufacturing thin-film CdTe modules, which don’t require polysilicon, their prices have fallen in recent years.

The Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) rose 1.0% and 0.5%, respectively, in yesterday’s trade.

Trina Solar (TSL) had given shipment guidance of 1,500 MW (megawatts) to 1,600 MW for 2Q16. However, the company reported 1,658.3 MW of solar (TAN) module shipments recognized in its revenue for 2Q16.

The Guggenheim Solar ETF (TAN) gained 0.9% on April 21. American solar stocks account for 47% of the fund’s holdings, and Chinese solar stocks account for another 44%.

With over 6,700 MW of hydro and wind capacity under operation, Brookfield Renewable Energy Partners (BEP) dwarfs all other yieldcos we’ve looked at.

FirstSolar (FSLR) nailed its 2Q15 earnings. The company’s focus on solar power differentiates it from SunEdison (SUNE).

The European Union decided to review a minimum import price agreement for Chinese solar panels, pulling the solar stocks down.

FSLR stock rose 12 percent in after-hours trading on Oct. 27 following First Solar’s third-quarter earnings results.

In 4Q17, Canadian Solar expects its solar module shipments to reach ~1.7–1.8 GW.

As of December 9, 2016, among its major peers, Yingli Solar had the highest forward EV-to-EBITDA multiple of 14.3x.

JA Solar’s total cost of sales for 3Q17 was $575.4 million compared to $778.9 million in 2Q17 and $539.3 million in 3Q16.

Wall Street analysts have given SunPower stock a mean target price of $8.56, which indicates a potential upside of 11.5% for the next 12 months.

Overall, 2019 turned out to be volatile for solar stocks. However, there were some bright spots among broader markets last year.

Wall Street analysts have given First Solar a mean target price of $70.9, which indicates a potential upside of 22% for the next 12 months.

First Solar stock lost 3.4% last week after the US Court of International Trade blocked the Trump administration from withdrawing a tariff exemption.

To boost the domestic solar industry, Trump imposed a 30% tariff on imported panels last year. However, the policy severely impacted the sector.

The recent uptrend in First Solar (FSLR) stock might have soothed investors, but the worst may not be over yet. Here’s why.

Capacity is defined as the potential power output that power plants can generate. Each power plant has a shelf life. After the shelf life, they’re replaced with new power plants.

Enphase Energy stock fell almost 4% on Monday. The company announced its supply agreement with Sunrun to provide seventh-generation IQ microinverters.

Innovation will be the competitive advantage for Tesla Solar. Tesla launched a solar roof tile last month that’s more efficient and is easier to install.

First Solar stock has an EV-to-EBITDA valuation of 6.4x its estimated earnings for the next 12 months. The industry’s mean valuation is greater than 11x.

Since reaching an all-time high in August, Enphase Energy stock has almost halved in value. However, its recent quarterly earnings weren’t so bad.

SunPower announced its plans to spin-off businesses into global solar panel manufacturing and US distributed solar generation and storage.

First Solar’s (FSLR) third-quarter earnings didn’t boost its stock. Investors were disappointed with wide misses on the revenues and earnings front.

SunPower (SPWR) surprised investors with strong third-quarter earnings on October 30. It reported EPS of $0.07, beating analysts’ consensus estimate.

Yesterday, First Solar (FSLR) returned to profits in Q3 after reporting deep losses in Q2. FSLR missed analysts’ estimates and posted EPS of $0.29.

Solar inverter maker Enphase Energy (ENPH) stock was up more than 4% at 11:10 ET today. ENPH recovered after it fell more than 8% yesterday.

Solar panel maker First Solar (FSLR) plans to report its Q3 earnings on October 24. Analysts expect the company to report earnings per share of $1.19.

Solar stocks highlighted the top-rallied sectors this year. After hitting multiyear highs, many solar stocks have fallen as much as 40% since August.

In this video interview, Ben Lenail of Alta Devices talks about the future of solar power in next-generation vehicles and beyond.

Solar stocks have had a great run this year. Strong demand, falling costs, and higher corporate investments have supported these renewables in 2019.

Almost all solar stocks fell sharply on September 26. First Solar (FSLR) fell about 7% yesterday while this year’s top gainer, Enphase Energy, fell 7.5%.

Top solar stock First Solar (FSLR) has surged about 10% in September. FSLR is trading close to its 52-week high and might continue to march upward.

Almost all the solar stocks have had a fantastic run so far this year, and First Solar (FSLR) is no exception. FSLR stock is up more than 45% year-to-date.

Enphase Energy has fallen almost 20% from its all-time high of $35.4. The stock is still sitting at a huge gain of approximately 500% this year.

First Solar (FSLR) stock fell more than 10% from its 52-week high early this month. In a strong solar environment, FSLR stock has gained more than 45% YTD.

Solar microinverter company Enphase Energy (ENPH) has rallied more than any other stock in the space this year with a more-than-600% gain.

Solar stocks have been on an impressive run this year. So far, Enphase Energy (ENPH) stock has risen more than 530% in 2019.

Solar stocks started last week significantly lower due to increased trade war concerns. The solar energy space is one of the hottest sectors this year.

FirstSolar (FSLR) and SunEdison (SUNE) published their 2Q15 earnings on August 4 and August 6, respectively. The results starkly contrasted with each other.

First Solar was the first solar power company to join the S&P 500 (SPY). We’ll take a look at the company’s operations before moving on to greater details.

Among the top solar stocks, First Solar broke below its 50-day moving average level, which might open a new downside for the stock in the short term.

First Solar (FSLR) reported its second-quarter earnings results yesterday. It reported EPS of -$0.18 for the quarter.

First Solar’s second-quarter earnings on August 1 will likely decide its path going forward. The solar space is one of the hottest sectors this year.

First Solar (FSLR) stock offers a potential upside of 9% for the next 12 months. The stock has a mean target price of $70.3—compared to its current market price of $61.8.

According to analysts’ consensus estimates, First Solar (FSLR) stock offers a potential upside of more than 15% for the next 12 months.

For the first quarter of 2019, Albemarle has declared a quarterly dividend of $0.3675 per share.

2019 could be a lot better and a step in a different direction for the solar energy sector as a whole. Solar stocks have already performed well so far.

First Solar stock is trading at a forward PE ratio of 18x. On average, solar stocks (TAN) are trading at a forward valuation multiple of 14x.

First Solar (FSLR) stock is trading at a forward EV-to-EBITDA multiple of 4x based on analysts’ earnings estimates for 2019.

Air Products and Chemicals’ (APD) Industrial Gases–Asia segment accounted for 27.5% of the company’s total revenues in the fourth quarter.

Air Products and Chemicals’ (APD) Industrial Gases–Asia segment accounted for 27.6% of APD’s total revenues in fiscal Q3 2018, expanding by 2.2 percentage points YoY from 25.4%.

On May 24, Ashland announced that it will increase maleic anhydride prices by $0.06 per pound. The price increase will be effective on June 7.

In 3Q16, Yingli Solar (YGE) posted nearly $218.9 million in total revenues. Analysts estimate that it will report ~$242 million in revenues in 3Q17.

Yingli Solar will announce its 3Q17 earnings results on December 6 before market hours. Since its 2Q17 earnings, its stock price has fallen nearly 13.1%.

In 3Q17, JA Solar reported total revenues of $652.6 million compared to $878.2 million in 2Q17 and $624.3 million in 3Q16.

On November 15, 2017, after market hours, JA Solar Holdings (JASO) announced its 3Q17 results for the quarter ended September 30, 2017.

Canadian Solar (CSIQ) reported its 3Q17 earnings results on November 9. CSIQ declared earnings per share of $0.22, slightly below the analyst consensus estimate of $0.26.

Vivint Solar posted $75.1 million in revenues in 3Q17, up by 82% on a YoY (year-over-year) basis.

SunPower (SPWR) reports its revenue under the power plant, residential, and commercial segments. The latter two segments are together called the distributed generation segments.

SunPower (SPWR) announced its 3Q17 earnings before market hours on November 2. In this series, we’ll examine SunPower’s 3Q17 results in detail and compare the results with analysts’ estimates.

First Solar (FSLR) produces solar energy equipment. In this series, we’ll look at its performance and the outlook for the industry.

Relative valuation PE (price-to-earnings) and EV-to-EBITDA multiples are commonly used to determine relative valuation. The forward PE multiple considers a company’s equity based on earnings forecasts for the next 12 months. On September 29, 2017, First Solar’s forward PE multiple was reported to be 21.9x. This PE multiple was higher than JA Solar’s (JASO) 9.1x and Canadian Solar’s […]

Debt profile As of December 31, 2016, First Solar (FSLR) had total debt of $188.4 million, lower than its debt of $289 million at the end of 2015. The company’s debt is denominated in various currencies, including the US dollar, Malaysian ringgit, and euros. Credit metrics With a net worth of over $5 billion and $555.8 […]

Pre-tax loss First Solar’s (FSLR) pretax loss in 2016 was $471.7 million, compared with a profit of $519.8 million in 2015. The loss could be attributed to the huge $729 million restructuring pre-tax charges faced by the company in the fourth quarter of 2016. Net loss in 2016 First Solar reported a net loss of $358.0 […]

Cost of sales First Solar’s (FSLR) Components segment saw its cost of sales rise 6% to $1.1 billion in fiscal 2016, from $1.0 billion in fiscal 2015. On the other hand, despite higher volumes, the Systems segment’s cost of sales fell 29% to $1.1 billion in fiscal 2016 from $1.6 billion in fiscal 2015. Overall, the company’s cost […]

Revenue trend First Solar’s (FSLR) revenue is primarily from turn-key projects, project maintenance, project sales, PV (photovoltaic) module sales to third parties, and PPAs (power purchase agreements) for sale of electricity. In this part, we’ll examine First Solar’s financial performance. As we discussed previously, First Solar has two main business segments: Components and Systems. The design, […]

High customer concentration In 2016, First Solar (FSLR) sold solar modules to customers in the United States, India, and the United Arab Emirates. Approximately 23% of its total revenue was from third-party module sales. The majority of First Solar’s customer base is in the United States, which makes up to more than 80% of total […]

India’s rising electricity demand According to the EIA’s (U.S. Energy Information Administration) 2017 International Energy Outlook, India’s electricity generation is expected to increase by 3.2% per year through 2040, to meet increasing electricity demand in rural areas. Solar outlook Even though coal is the primary fuel used for electricity generation in India, the focus on renewable […]

The Americas The US PV (photovoltaic) market made up ~83% ($2.9 billion) of First Solar’s (FSLR) revenue. The United States has typically been First Solar’s largest market, and where many of its prominent projects and customers are located. First Solar has completed the construction of Del Sur, a 26 MW (megawatt) solar project in Honduras. It commenced […]

Operating segments Previously, we looked at First Solar’s (FSLR) history. The photovoltaic module manufacturer operates two business segments: Components and Systems. The Components segment First Solar is a manufacturer of solar (TAN) photovoltaic (or PV) modules. First Solar also designs and sells these modules. They manufacture thin-film PVs, in which the semiconductor material used is […]

On September 7, 2017, Ashland (ASH) announced that it would increase the prices of 1-4 Butanediol and other derivative products.

SunPower expects to incur about $225 million–$275 million in restructuring charges as part of closing its Philippine-based Fab 2 manufacturing facility.

The market cheered SunPower’s restructuring initiatives. The initiatives are expected to reduce the company’s costs and improve its future margins.

In 3Q16, Trina Solar (TSL) reported a gross profit of $125.6 million compared to $176.3 million in 2Q16. On a YoY basis, the company’s gross profit fell nearly 9.0%.

Following its 3Q16 results, Canadian Solar revised down its US GAAP revenue guidance for 2016 to $2.8 billion–$2.9 billion.

On November 16, 2016, First Solar (FSLR) announced an update on its Series 6 product transition and revised its fiscal 2016 guidance.

Canadian Solar’s interest expenses fell considerably in 2Q16 to $11.9 million from $16.1 million at the end of 1Q16.

Canadian Solar (CSIQ) is set to announce its 3Q16 earnings results on November 21, 2016, before market hours.

First Solar’s adjusted EBITDA for 3Q15 came in at $466 million. For 3Q16, analysts expect First Solar’s adjusted EBITDA to be around $120 million.

In this article, we’ll go through the rationale behind GE’s planned acquisition of LM Wind Power. According to the GWEC, worldwide wind capacity is expected to nearly double in the next five years.

Among major upstream solar companies, First Solar (FSLR) has the lowest estimated EV-to-EBITDA multiple of 3.9x for 2016. This is followed by Trina Solar’s (TSL) estimated multiple of 6.9x.

Analysts anticipate a decrease in gross profit and gross margin for Trina Solar. For the coming quarter, analysts anticipate that the company will report about $145 million in gross profit, which would be a ~18% decrease on a quarter-over-quarter basis.

The Clean Power Plan could set a bigger stage for renewable energy in the energy mix of the United States. Renewable energy could outweigh energy from all fossil fuels combined by 2040.

Southern Company expects its natural gas usage to rise to 52%, while it expects its coal usage to fall to 29% by 2020, compared to 2014 levels.

Compared to SunEdison and TerraForm power, TerraForm Global seems to be in a better financial position with a large part of total assets parked in cash.

FEX currently manages a total portfolio of $1.76 billion distributed primarily over the financial, consumer discretionary, and industrials sectors.

FEX has performed negatively in the market with a YTD return of -1.8%. The primary reason for its poor performance is its sensitive-to-market alpha holdings.

The First Trust Large Cap Core AlphaDEX ETF (FEX) is based on the Defined Large Cap Core Index. The index provider selects stocks on the basis of alpha.