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First Solar Inc (FSLR.O)

FSLR.O on Nasdaq

28.58USD
23 Mar 2017
Change (% chg)

$-0.29 (-1.00%)
Prev Close
$28.87
Open
$28.85
Day's High
$29.25
Day's Low
$28.51
Volume
2,599,321
Avg. Vol
3,041,492
52-wk High
$71.30
52-wk Low
$28.05

Latest Key Developments (Source: Significant Developments)

First Solar reports Q4 gaap loss per share $6.92
Tuesday, 21 Feb 2017 04:06pm EST 

First Solar Inc - : First Solar Inc announces fourth quarter & full year 2016 financial results . Q4 gaap loss per share $6.92 . Q4 sales $480 million versus I/B/E/S view $412.8 million . Q4 earnings per share view $0.97 -- Thomson Reuters I/B/E/S . Q4 non-gaap earnings per share $1.24 . Maintain non-gaap 2017 eps guidance . First Solar Inc sees 2017 shipments of 2.4 gw to 2.6 gw . Sees 2017 net sales $2.8 billion to $2.9 billion . First Solar Inc sees 2017 gaap loss per share $0.80 to $0.05 . First Solar Inc says Q4 was impacted by pre-tax charges of $729 million, primarily related to previously announced restructuring actions .First Solar Inc says cash and marketable securities at end of q4 decreased slightly to $2.0 billion from $2.1 billion in prior quarter.  Full Article

First Solar secures syndicated financing arranged by Mizuho bank
Tuesday, 21 Feb 2017 04:00pm EST 

First Solar Inc : First Solar secures syndicated financing arranged by Mizuho bank for utility-scale solar project in Ishikawa, Japan . First Solar secures syndicated financing arranged by Mizuho bank for utility-scale solar project in Ishikawa, Japan . First Solar Inc - obtained non-recourse project debt financing of approximately 27 billion yen (us$240 million) . Ishikawa Sogo Solar Power Plant is scheduled to commence operation in late 2018 .First Solar Inc says Ishikawa Sogo Solar Power Plant is scheduled to commence operation in late 2018.  Full Article

Zorlu Enerji says Zorlu Holding signs exclusive distribution agreement with First Solar
Monday, 13 Feb 2017 08:52am EST 

Zorlu Enerji : 62 pct owned unit Zorlu Holding signs cooperation agreement with First Solar . The contract is for exclusively distribution of PV modules in 26 countries .As per the agreement Zorlu Holding and its units will be the sole distributors of First Solar modules for 5 years.  Full Article

Franklin Resources reports 6 percent passive stake in First Solar as of Dec 31, 2016
Wednesday, 8 Feb 2017 12:24pm EST 

Franklin Resources Inc :Franklin Resources reports 6 percent passive stake in first Solar Inc as of December 31, 2016 -SEC filing.  Full Article

First solar says entered into a sixth amendment to amended and restated credit agreement dated as of Oct. 15, 2010
Friday, 27 Jan 2017 06:28am EST 

First Solar : On Jan 20, co entered into a sixth amendment to amended and restated credit agreement dated as of October 15, 2010 - sec filing . First Solar- amendment to increase liquidity availability,as defined in amended credit agreement,required to be maintained from $400 million to $800 million .First Solar - amendment removes requirement to maintain a minimum consolidated EBITDA, as defined in amended credit agreement.  Full Article

First Solar says will begin phasing out Series 4 production later this year-conf call
Wednesday, 16 Nov 2016 05:45pm EST 

First Solar Inc : Will begin phasing out Series 4 production later this year . Says one impact of Series 6 pull forward is that 2017 production will be lower than previously communicated . Following presidential election, some uncertainty has arisen around federal programs benefiting renewable energy development in the US such as ITC . Expects to see a shift in profitability as Series 6 comes online in the second half of 2018 . Expects about 2.2 gigawatts of production next year versus over 3 gigawatts this year . First Solar says not assuming any improvement in the market, relating to average selling prices in 2017 Further company coverage: [FSLR.O] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

First Solar to reduce workforce by about 1,600 associates
Wednesday, 16 Nov 2016 04:51pm EST 

First Solar Inc : To reduce First Solar's workforce by approximately 1,600 associates, or 27% of its approximately 6,000 global total . First Solar-charges related to restructuring will be incurred primarily Q4 with remaining being incurred in 2017 and 2018 . First Solar Inc - First Solar will substantially reduce its workforce at its domestic and international manufacturing facilities .First Solar-of the expected charges, between $70 million and $100 million are expected to result in cash expenditures.  Full Article

First Solar to cut workforce
Wednesday, 16 Nov 2016 04:05pm EST 

First Solar Inc : First Solar, Inc. announces acceleration of Series 6 Solar Module Production to 2018; Restructures operations; Updates 2016 guidance & provides 2017 guidance . First Solar sees FY 2017 earnings between loss of $0.10 per share to profit of $0.45 per share . Sees FY 2017 non-gaap earnings per share $0.00 to $0.50 . Sees FY 2017 sales $2.5 billion to $2.6 billion . Approximately 3 gigawatts of series 6 production expected in 2019 . 2017 operating cash guidance of $550 to $650 million; Ending net cash of $1.4 to $1.6 billion . As a result of change in roadmap company will cancel its series 5 product . Will reduce workforce at manufacturing facilities as a result of transition from Series 4 to Series 6 production . Additional reductions in administrative and other staff are also planned . Expects to incur restructuring and asset impairment charges of $500 to $700 million . Also expects to incur $220 to $250 million of tax expense in 2016 . FY2017 earnings per share view $1.94, revenue view $2.98 billion -- Thomson Reuters I/B/E/S . FY2016 earnings per share view $4.48, revenue view $3.01 billion -- Thomson Reuters I/B/E/S . Sees 2016 loss per share $2.00 to $4.00 . Sees 2016 non-GAAP earnings per share $4.60 to $4.80 .Sees 2017 capital expenditures $525 million to $625 million.  Full Article

First Solar, MCE sign power purchase agreement
Tuesday, 1 Nov 2016 09:30am EDT 

First Solar Inc : First Solar, MCE sign power purchase agreement . First Solar - entered into a power purchase agreement for electricity generated from 40MWACOF First Solar's little bear solar project in Fresno County, CA. . First Solar Inc -Terms of deal were not disclosed. . First Solar Inc - MCE will initially purchase electricity from Little Bear's 40mwacfirst phase . First Solar Inc - MCE will have an option to expand up to project's full 160MWACAS their load increases through potential expansion .First Solar Inc -Project is anticipated to begin construction in 2019, with commissioning expected in 2020.  Full Article

First Solar says Alexander R. Bradley has been appointed CFO of co
Friday, 14 Oct 2016 01:09pm EDT 

First Solar Inc :Says Alexander R. Bradley has been appointed chief financial officer of first solar, effective Oct 24.  Full Article

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