First Solar Earnings: FSLR Stock Declined on Q4 EPS Below Mark
First Solar (NASDAQ:FSLR) revealed its earnings for the business’ last quarter of its fiscal 2018, turning a profit following its loss from the year-ago quarter. However, shares took a step back on Thursday afternoon as some of the company’s metrics missed the guidance.
As the Tempe, Az.-based semiconductor manufacturer enters the thick of its first quarter of fiscal 2019, it said that last year’s fourth quarter yielded a profit of $52.1 million, or 49 cents per share. The amount was nearly $500 million higher than its loss of $432.5 million, or $4.14 per share, from the same period a year prior.
The result was below the 64 cents per share that more than 10 analysts were projecting First Solar to bring in, according to data compiled by Thomson Reuters. Revenue for the company’s fourth quarter reached $691.2 million, more than double from the $339.2 million it raked in during the fourth quarter of its 2017.
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Wall Street said it saw the semiconductor maker as amassing roughly sales of $803.61 million.
For its fiscal 2019, First Solar says it forecasts earnings at a midpoint of $2.50 per share, below the $2.56 per share that analysts call for. The company sees its sales as being around $3.35 billion at the middle of its guidance, above the $3.27 billion that Wall Street sees for the year.
FSLR stock was up about 0.5% during regular trading hours before the company reported its results for the quarter. Following its posting, shares were down about 4.1% after the bell on Thursday.
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