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First Solar Inc (FSLR.O)

FSLR.O on Nasdaq

35.75USD
13 Jan 2017
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Latest Key Developments (Source: Significant Developments)

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

First Solar 160MW of module contracts in Turkey
Thursday, 11 Aug 2016 08:30am EDT 

First Solar Inc : First Solar wins 160mw of module contracts in Turkey .Orders were placed by Basariarge Enerji A.S. and Zorlu Enerji.  Full Article

First Solar sees FY non-gaap earnings per share $4.20 to $4.50
Wednesday, 3 Aug 2016 04:02pm EDT 

First Solar Inc : First solar, inc. Announces second quarter 2016 financial results . Q2 gaap earnings per share $0.13 . Q2 earnings per share view $0.54 -- Thomson Reuters I/B/E/S . Q2 non-gaap earnings per share $0.87 . Q2 sales $934 million versus i/b/e/s view $862.7 million . Company updated its 2016 earnings per share guidance . First solar inc sees fy2016 gross margin percent 18.5% to 19% . Sees Fy Non-Gaap earnings per share $4.20 to $4.50 . First solar inc sees fy 2016 capital expenditures between $275mln to $325mln .First solar inc sees fy gaap earnings per share $3.65 to $3.90.  Full Article

D. E. Shaw Renewable Investments acquires Rancho Seco solar project from First Solar
Wednesday, 3 Aug 2016 09:08am EDT 

First Solar Inc : Co, D. E. Shaw renewable investments announced acquisition by Desri affiliate of 11 MW Acrancho Seco solar project .Terms of deal were not disclosed.  Full Article

First Solar, Inc announces leadership transition
Wednesday, 27 Apr 2016 04:07pm EDT 

First Solar, Inc:Says current CFO Mark R. Widmar has been appointed CEO, effective July 1, 2016.Says As part of a transition plan, Widmar will succeed James A. Hughes, who plans to step down as Chief Executive Officer effective June 30, 2016.  Full Article

First Solar Inc Maintains FY 2016 EPS guidance; lowers FY 2016 Net Sales guidance
Tuesday, 23 Feb 2016 04:05pm EST 

First Solar Inc:Sees FY 2016 Net Sales $3.8 Bln to $4.0 Bln (Prior $3.9 Bln to $4.1 Bln).Sees FY 2016 Operating Income $380 Mln to $400 Mln (Unchanged).Maintained FY 2016 earnings per share guidance of $4.00 to $4.50.  Full Article

First Solar 2017 sales forecast misses; to slash 27 percent jobs

First Solar Inc forecast 2017 sales well below analysts' estimate, and the company said it would slash about 1,600 jobs, or 27 percent of its global workforce, as it transitions to a new product ahead of schedule.