First Solar, Inc. (NASDAQ:FSLR) released its earnings report for the three months through September this afternoon after the market closed on Wall Street on Thursday afternoon. The company showed earnings per share of $2.28 for the quarter on revenue totaling $1.27 billion. On today’s market shares in the solar panel manufacturer fell in anticipation of the earnings report, and closed at $50.28 per share.
In the run-up to the release of this earnings report, analysts studying First Solar, Inc. (NASDAQ:FSLR) were looking for earnings per share of $1 from the firm. Revenue was expected to come in just under $1 billion. The firm cur guidance for fourth quarter revenue in the report, and shares were halter for about 30 minutes around the time of the release.
First Solar earnings
Earnings have been a sticking point for First Solar, Inc. (NASDAQ:FSLR) in recent months. The company missed analysts estimates on both of its most recent earnings reports, and shares have reacted poorly as a result. Analysts have been less than positive about the company because of its earnings problems.
Since its inception in January 2012, the long book of the Voss Value Fund, Voss Capital's flagship offering, has substantially outperformed the market. The long/short equity fund has turned every $1 invested into an estimated $13.37. Over the same time frame, every $1 invested in the S&P 500 has become $3.66. Q1 2021 hedge fund Read More
Of the 22 analysts surveyed by Thomson Reuters, just 2 recommended the company as a Buy. Most of the analysts advised investors to hold onto the company’s shares.
First Solar performance
Shares in First Solar, Inc. (NASDAQ:FSLR) have gained a large amount of value since trading began in 2013. The company’s stock has gained more than 60% since January 1, with a good deal of that increase coming directly after the firm released its April earnings report. The company’s valuation puts a lot of pressure on it to perform, and that has caused a slump in shares since June.
Stock in the company seems to be valued reasonably compared to other operators in the industry. First Solar, Inc. (NASDAQ:FSLR) shares were trading at just over 13 times 2012 earnings on Thursday’s market. A handful of solar companies are expected to reveal earnings in the next week, and some of them are valued at incredibly high levels.
2013 has been the year in which the solar industry came into its own, along with other players in alternative energy. First Solar, Inc. (NYSE:FSLR) is one of the larger companies in the space, and its earnings are given extra weight as a result.
Executives from First Solar, Inc. (NASDAQ:FSLR) will host a conference call to discuss these numbers at 4:30 PM EDT. The company’s investors and analysts will be looking for information on the company’s improvements in panel efficiency and outlook on total panel production for the period ahead.