Earnings Preview: Tesla Motors Inc, SolarCity Corp, First Solar, Inc.

Tesla stockBlomst / Pixabay

First quarter earnings season is in full swing. Both Elon Musk-backed companies, Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY), will report their Q1 results on Wednesday, May 7 after the bell. Another green technology company First Solar, Inc. (NASDAQ:FSLR) will announce its first quarter results on Tuesday, May 6 after the market closes. So, let’s have a look at what analysts expect from each of the three companies.

Tesla Motors Inc

Analysts polled by Thomson Reuters expect the San Francisco-based company to report $699.10 in revenues, up 24.4% from the first quarter of 2013. However, Tesla Motors Inc (NASDAQ:TSLA)’s earnings are expected to decline from 22 cents to 10 cents. For the full year 2014, Wall Street calls for $3.65 billion in revenues and $1.78 per share in earnings.

Analysts on average expect Model S deliveries of 6,500 units, well above Tesla Motors Inc (NASDAQ:TSLA)’s own guidance of 6,400 units and last year’s 4,900 units. However, Barclays analyst Brian A. Johnson believes that the U.S. deliveries would decline QoQ from 4,100 units in December quarter to 3,800 units in March quarter. Tesla Motors is currently focused on meeting its international demand. Investors will also be looking for commentary on China sales, Gigafactory, Model X, and gross margins.

First Solar, Inc.

The Tempe, Arizona-based company’s earnings are expected to decline in the first quarter. Analysts polled by FactSet forecast 52 cents in adjusted EPS and $837 million in revenues. First Solar, Inc. (NASDAQ:FSLR) had generated $755 million in revenues and $69 cents in earnings in the same quarter a year earlier. The solar panel maker’s own guidance calls for $0.50-$0.60 in EPS and $800-$900 million in sales. For FY2014, First Solar, Inc. (NASDAQ:FSLR) forecasts net income in the range of $270-$320 million and revenues between $3.7-$4 billion.

SolarCity Corp

SolarCity Corp (NASDAQ:SCTY)’s installations during the first quarter might not be very strong due to weather, but analysts believe solid bookings would push up the stock. The San Mateo-based company is expected to post a net loss of 74 cents with $53.39 million in revenues. SolarCity has reported a loss of 37 cents on revenues of $29.99 in the same quarter last year.

SolarCity Corp (NASDAQ:SCTY) forecasts panel installations of 78-82MW in Q1, compared to the consensus estimate of 80MW. Deutsche Bank expects SolarCity’s system sales to come at $25 million, and $27.7 million in operating leases.

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About the Author

Vikas Shukla
Vikas Shukla has a strong interest in business, finance, and technology. He writes regularly on these topics. - He can be contacted by email at vshukla@valuewalk.com or on Twitter @VikShukla10

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