First Solar Inc.

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Description

First Solar, Inc. delivered mixed results for the previous quarter, with revenues below the analyst consensus. However, it managed to exceed Wall Street’s earnings expectations. The company boasts robust market fundamentals, marked by strong demand for products, manufacturing excellence, and a business model tuned to customer and shareholder value. Notable achievements include 6.8 gigawatts in net bookings, bringing the year-to-date total to 27.8 gigawatts and a total backlog of 81.8 gigawatts, with a promising pipeline of future opportunities at 65.9 gigawatts. Manufacturing updates underline their prowess, with Series 6 modules achieving 2.5 gigawatts in Q3 and the Ohio factory showcasing the potential for high-volume Series 7 manufacturing at 97% of nameplate throughput. The newly operational India plant adds to this momentum, producing 154 megawatts in Q3. Technological strides are evident, with Series 6 Plus Bifacial modules demonstrating innovation. The conversion of plants in Perrysburg to produce the world’s first bifacial solar panel showcases First Solar’s commitment to advancing thin film semiconductor technology. Looking forward, the manufacturing expansion strategy is on track, with the completion of the India facility and the mobilization of the Louisiana facility emphasizing a push towards 25 gigawatts of global nameplate capacity by 2026.

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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