First Solar stock jumps on positive full-year guidance
Shares of First Solar (FSLR) are trading higher after the company posted its fourth-quarter report, with positive full-year guidance. The company projects that its earnings per share (EPS) for 2024 will be between $13 and $14, almost double its 2023 EPS of $7.74.
Yahoo Finance Anchors Josh Lipton and Julie Hyman break down First Solar's performance and as well as how other solar companies are performing throughout the sector.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Video Transcript
JOSH LIPTON: Time to check in now on some of today's top trending tickers. Let's start here with shares of first solar. They're moving higher. They're posting better than expected, quarterly earnings and upbeat guidance. So first solar reports Julie, stocks in the green Q4 EPS 325 a share. That was a beat calling for 2024 net sales. It looks like 4.4 to 4.6 billion.
Part of what's interesting here is just comparing how first solar did versus some of their peers like Sunrun missed expectations for Q4 solar edge, guided for current sales that also missed consensus. So it's been choppy here for these names.
JULIE HYMAN: Yeah. SunPower just got a new CEO. So that's another one where we saw a little bit of a move upwards yesterday but there's been a lot of volatility in the space to your point. Interestingly, also I was reading a bigger article on the industry from Bloomberg New Energy Finance which really zeros in on solar. And said US solar installations should grow in the US this year.
And that there, of course, is some IRA support for it. But there are still some limitations on it. That said, if you look at First Solar, there's a lot of focus on the backlog here showing that there's sustainability for demand for its services.
JOSH LIPTON: Yeah. Today-- First Solar by the way, higher today. But we should point out. I mean, still well in the red both this year and over the last 12 months.
JULIE HYMAN: Yeah.
