Description

First Solar, Inc.: Domestic Market Expansion Through Government Incentives

First Solar presented a mixed set of results for its financial performance in 2024 and discussed objectives for 2025. The company recorded 2024 net sales of $4.2 billion, a 27% increase from the previous year, reflecting robust demand marked by the sale of a record 14.1 gigawatts of modules. However, full-year diluted earnings per share of $12.02 missed the lower end of guidance, largely influenced by unexpected costs and operational inefficiencies. Positive aspects included a strategic and selective approach to contracting, securing net bookings of 4.4 gigawatts with competitive average selling prices, and exiting 2024 with a strong contracted backlog of 68.5 gigawatts.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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