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What's in the Cards for First Solar (FSLR) in Q2 Earnings?

First Solar, Inc. FSLR is slated to report second-quarter 2022 results on Jul 28 after the closing bell.

In the last reported quarter, the company delivered earnings on par with the Zacks Consensus Estimate. First Solar has a trailing four-quarter earnings surprise of 2.49%, on average.

Factors to Note

Strong bookings, customer growth and solid shipments are expected to have contributed to the second-quarter sales of the company. Additionally, the increased demand for its Series 6 module is expected to have contributed to FSLR’s top line in the second quarter.

However, as the global freight market continues to experience record levels of scheduled delays and reliability issues, the company is expected to have shipments in transit, not recognizedas revenues, in the second quarter. Additionally, the sale of its Japan’s operating & maintenance platforms might have lowered its overall revenues in the second quarter of 2022. This, in turn, might have impacted the performance of the top line in the soon-to-be-reported quarter.

The Zacks Consensus Estimate for second-quarter revenues is pegged at $599.5 million, suggesting a decline of 4.7% from the year-ago reported figure.

Inflationary pressure and supply-chain issues might have dampened the earnings of the company in the soon-to-be-reported quarter.

From the cost perspective, the rising ocean freight costs, raw material costs, warranty expenses and higher production start-up expenses and under-utilization costs are likely to have dampened First Solar’s earnings in the to-be-reported quarter.

The Zacks Consensus Estimate for First Solar’s second-quarter earningsis pegged at 46 cents per share,suggesting a decline of 40.3% from the year-ago quarter’s reported earnings.

First Solar, Inc. Price and EPS Surprise

First Solar, Inc. Price and EPS Surprise
First Solar, Inc. Price and EPS Surprise

First Solar, Inc. price-eps-surprise | First Solar, Inc. Quote

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for FSLR this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.

Earnings ESP:The company’s Earnings ESP is -204.73%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: First Solar currently carries a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are three companies you may want to consider from the same sector as they have the right combination of elements to post an earnings beat this season:

Sunnova Energy International Inc. NOVA currently has an Earnings ESP of +11.95% and a Zacks Rank #3. The Zacks Consensus Estimate for Sunnova’s second-quarter earnings implies a year-over-year improvement of 23.8% from the prior-year reported figure.

The Zacks Consensus Estimate for Sunnova’s second-quarter sales, pegged at $89.3 million, suggests a year-over-year improvement of 34.1% from the prior-year reported figure. NOVA delivered an earnings surprise of 21.05% in the last reported quarter.

Array Technologies, Inc. ARRY currently has an Earnings ESP of +5.88% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings is pegged at 5 cents per share.

The Zacks Consensus Estimate for Array’s second-quarter sales suggests year-over-year growth of 73.7% from the prior-year reported figure. ARRY has a four-quarter earnings surprise of 12.14%.

Sunrun RUN currently has an Earnings ESP of +35.36% and a Zacks Rank #2. The Zacks Consensus Estimate for Sunrun’s second-quarter sales suggests year-over-year growth of 20.9% from the prior-year reported figure.

In the last reported quarter, Sunrun delivered a negative earnings surprise of 500%. RUN has a four-quarter negative earnings surprise of 245%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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First Solar, Inc. (FSLR) : Free Stock Analysis Report
 
Array Technologies, Inc. (ARRY) : Free Stock Analysis Report
 
Sunrun Inc. (RUN) : Free Stock Analysis Report
 
Sunnova Energy International Inc. (NOVA) : Free Stock Analysis Report
 
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