2013 earnings per fully diluted share of $4.00 to $4.50
Operating Cash Flow of $0.8 - $1.0 Billion
Summary outlook through 2015
TEMPE, Ariz.--(BUSINESS WIRE)-- First Solar, Inc. (Nasdaq:FSLR) today announced full-year 2013 guidance as well as summary financial targets through 2015.
For 2013, First Solar expects total module shipments to be between 1.6GW and 1.8GW and net sales of $3.8 and $4.0 billion, including approximately $3.6 billion in net sales from systems sales. Consolidated gross margin is expected to be between 20 and 22 percent. Excluding up to $10 million in restructuring expense as previously announced, diluted EPS is expected to be between $4.00 and $4.50, and consolidated operating income is expected to be between $430 and $460 million. The Company expects to generate $0.8 to $1.0 billion of operating cash flow and plans for approximately $350 to $400 million in capital expenditures in 2013. Working capital is expected to decrease by between $50 and $200 million from 2012. The Company noted that revenue recognition for the Desert Sunlight project is currently expected to begin in the second half of 2013 and conclude by late 2014. This assumption is reflected in the Company's 2013 guidance and 2014 outlook.
In addition to the 2013 detailed guidance, the Company also provided a summary outlook for 2014