is a leading global provider of comprehensive photovoltaic (PV) solar energy solutions that are truly Taking Energy Forward. With over 10 gigawatts (GW) installed worldwide, our proven solar solutions diversify the energy portfolio and reduce the risk of fuel-price volatility while delivering a levelized cost of electricity (LCOE) that is cost competitive with fossil fuels today. By integrating technologies and expertise across the entire solar value chain, First Solar delivers bankable PV energy solutions that maximize the value of our customers’ PV investment while minimizing their risk. Having developed, financed, engineered, constructed, and operating some of the world’s largest and most successful PV power plants in existence, First Solar has become the partner of choice for customers globally.
First Solar is a global leader in photovoltaic (PV) solar energy solutions.
With more than 10 gigawatts (GW) installed worldwide, we believe that clean affordable solar electricity is an essential part of the worldwide energy mix. Our proven energy solutions have diversified the energy portfolio and reduced the risk of fuel-price volatility, while delivering an LCOE that is cost competitive with fossil fuels.
First Solar has developed, financed, engineered, constructed, and currently operates many of the world’s largest grid-connected PV power plants in existence. By integrating technologies, services and expertise across the entire solar value chain, First Solar delivers bankable PV energy solutions that enable a world powered by reliable and affordable solar electricity.
We offer the most bankable solar energy solutions in the world. With the strongest financial stability in the industry and unparalleled use of our technology in debt-financed projects, our bankable energy solutions provide access to capital and low-cost financing to leading utilities and energy investors.
We invest more in R&D than any of our competitors. Our determined innovation results in advanced technologies throughout the power plant that lower the levelized cost of electricity (LCOE), increase energy yield, and provide stable and reliable grid integration over the plant's life.
With our wide range of technologies and services, we maximize value and minimize risk for our customers and partners. By integrating technologies and expertise across the solar value chain, we deliver more reliable, dependable, and cost-effective solutions for our customers.
First Solar's Model Offers More Value And Less Risk Compared to Competitors
Fragmented approaches to the development of solar energy result in more cost and risk for plant owners. In addition to margin stacking, bankability issues, and lack of integration between companies to optimize total plant performance, there are significant long-term reliability concerns.
FIRST SOLAR FACTSHEET
Our comprehensive PV energy solutions address the energy needs of today and result in reliable, bankable and profitable solar solutions for our customers and partners worldwide.
First Solar Corporate Factsheet
Get the latest facts and figures about the global leader in PV energy solutions.
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Solutions To Contemporary Energy Problems
Utility-Scale Generation
Integrating reliable and affordable bulk power generation into the global energy mix.
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Fuel Displacement
First Solar's PV Hybrid Systems combine PV solar generation with a fossil fuel engine generator to reduce fuel consumption and save costs.
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Distributed Generation
Wholesale and retail solutions for distributed solar generation in restricted spaces.
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Off-Grid & Energy Access
Offering off-grid and energy access solutions for underserved energy markets.
Learn MoreThe First Solar Organization
INVESTOR RELATIONS
First Solar Inc. designs and manufactures solar modules using a proprietary thin film semiconductor technology that is one of the lowest cost in the world. Our objective is to reduce the cost of solar electricity to levels that compete on a non-subsidized basis with the price of retail electricity in key markets throughout the world.
Earnings Call
First Solar, Inc. 2015 Second Quarter Financial Results
4:30 PM ET
News Releases
| Date | Headline | |
|---|---|---|
| 08/04/2015 | First Solar, Inc. Announces Second Quarter 2015 Financial Results | |
| 07/23/2015 | First Solar, Inc. to Announce Second Quarter Financial Results on August 4, 2015 | |
STOCK INFORMATION
| First Solar, Inc. (NASDAQ: FSLR) |
|---|
Summary
First Solar delivered strong second-quarter results and provided robust guidance for 2015. The company beat EPS expectations in the last quarter by a big margin.
I see strong growth prospects for the company due primarily to two factors, strong bookings, and manufacturing and technology improvements.
The average target price of the top analysts is at $63.88, up 24.2% from its August 11 close price, which sounds reasonable, in my opinion.
EARNINGS ESTIMATES
Analyst Ratings
| 1-Strong Buy | 5 |
| 2-Buy | 5 |
| 3-Hold | 7 |
| 4-Underperform | 1 |
| 5-Sell | 0 |
Mean Recommendation: 2.22
Reference Information
| Last Actual (FY0) | 3.91 |
| FY0 End Date | Dec '14 |
| Ind. Annual Div. | N/A |
| Hist (5 Yr) Growth % | -21.60 % |
| Hist (5 Yr) Stability % | 123.25 % |
| Yield (%) | N/A |
Analyst Forecasts
| Last Month Revisions | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Fiscal Period | Mean | High | Low | Median | # of Estimates | #Up | #Down | Mean % Change | |
| Annual | Dec '17 | 3.33 | 4.79 | 2.13 | 3.32 | 11 | 0 | 0 | 3.83 % |
| Annual | Dec '16 | 3.84 | 5.30 | 1.89 | 3.77 | 17 | 1 | 0 | -0.15 % |
| Annual | Dec '15 | 3.43 | 3.55 | 3.19 | 3.44 | 16 | 1 | 1 | 0.07 % |
| Quarterly | Sep '15 | 1.55 | 1.93 | 0.81 | 1.60 | 15 | 1 | 0 | -6.25 % |
| Quarterly | Dec '15 | 1.55 | 2.28 | 1.25 | 1.56 | 15 | 0 | 1 | 7.38 % |
| Quarterly | Mar '16 | 0.78 | 2.15 | 0.06 | 0.76 | 11 | 0 | 1 | 0.03 % |
| Quarterly | Jun '16 | 0.81 | 1.08 | 0.27 | 0.87 | 11 | 0 | 1 | -4.45 % |
| Long Term Growth | N/A | -5.24 | -3.27 | -7.20 | -5.24 | 2 | 1 | 0 | -49.17 % |
Actuals
| Fiscal Period | Reported EPS | Mean Estimate | Surprise % Change | |
|---|---|---|---|---|
| Annual | Dec '14 | 3.91 | 2.78 | 40.43 % |
| Quarterly | Sep '14 | 0.87 | 0.64 | 36.73 % |
| Quarterly | Dec '14 | 1.89 | 0.76 | 149.65 % |
| Quarterly | Mar '15 | -0.62 | -0.29 | -115.50 % |
| Quarterly | Jun '15 | 0.93 | 0.36 | 159.94 % |
| Annual | Dec '13 | 4.35 | 4.41 | -1.38 % |
| Annual | Dec '12 | 4.90 | 4.61 | 6.30 % |
P/E Ratios
| P/E Ratios | First Solar, Inc. | Alternative Energy | Ind. Relative |
|---|---|---|---|
| FY0 | 11.82 | 42.98 | 0.27 |
| FY1 | 13.47 | N/A | N/A |
| FY2 | 12.03 | 30.04 | 0.40 |
EPS Growth Rates
| Growth Rates | First Solar, Inc. | Alternative Energy | Ind. Relative |
|---|---|---|---|
| FY1/FY0 | -12.27 | -69.69 | 2.89 |
| FY2/FY1 | 11.99 | N/A | N/A |
| FY3/FY2 | -13.25 | 25.39 | 0.69 |
Disclaimer: Mean earnings estimates are calculated by First Call based on their earnings projections made by the analysts who cover First Solar, Inc.. Please note that any opinions, estimates or forecasts regarding First Solar, Inc.'s performance made by these analysts (and therefore the average estimate numbers) are theirs and do not represent opinions, forecasts or predictions of First Solar, Inc. or its management. First Solar, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.
ANALYST COVERAGE
| Firm | Analyst | Contact Information |
|---|---|---|
| Ardour Capital Investments, LLC | Adam Krop | Phone: 212-375-2950 |
| Argus Research Company | Michael Burke | Phone: 646-747-5463 |
| Bank of America/Merrill Lynch | Krish Sankar | Phone: 415-676-3552 |
| Brean Capital | Michael Gaugler | Phone: 212-702-6539 |
| Citigroup Global Markets | Shar Pourreza | Phone: 212-816-6000 |
| Cowen and Company | Jeff Osborne | Phone: 646-562-1391 |
| Credit Suisse | Patrick Jobin | Phone: 212-325-2000 |
| Deutsche Bank Securities | Vishal Shah | Phone: 212-250-2500 |
| FBR Capital Markets | Aditya Satghare | Phone: 646-885-5472 |
| Goldman, Sachs & Co. | Brian K. Lee | Phone: 212-902-1000 |
| JP Morgan | Paul Coster | Phone: 212-272-2000 |
| Morgan Stanley | Timothy Radcliff | Phone: 212-761-4000 |
| Needham | Y. Edwin Mok | Phone: 415-262-4860 |
| Northland Securities | Colin Rusch | Phone: 612-851-5900 |
| Piper Jaffray | Jagadish Iyer | Phone: 212-575-8200 |
| Raymond James | Pavel Molchanov | Phone: 727-573-3800 |
| RBC Capital Markets | Mahesh Sanganeria | Phone: 212-858-7000 |
| Robert W. Baird | Benjamin Kallo | Phone: 414-765-3500 |
| Stifel Nicolaus | Sven Eenmaa | Phone: 415-364-2576 |
| UBS | Stephen Chin | Phone: 212-713-2000 |
First Solar, Inc. is followed by the analyst(s) listed above. Please note that any opinions, estimates or forecasts regarding First Solar, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of First Solar, Inc. or its management. First Solar, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.
Awards & Recognition
First Solar has received numerous awards and accolades over the years for our accomplishments across the entire solar value chain, from best renewable technology to No. 1 EPC company and project developer to “project of the year” and “deal of the year” awards. The continual recognition of our work is a testament to our ability to successfully deliver solar energy solutions that meet real energy needs.
TRACK RECORD OF SUCCESS
2015 - Intersolar North America Solar Projects of the Year - Finalist/Desert Sunlight
2015 - Solar Power World - #1 Ranked Top 500 Solar Contractors/Top Developer
2015 - MENA Award 2015 - PV Technology Innovation
2014 - BGreen Awards 2014 - Best Renewable Project of the Year
2014 - Solar Industry Awards 2014 - Solar Award for Excellence: Company, Thin Film Innovation, System Integration (skytron energy GmbH)
2014 - Middle East Electricity Awards - Solar Project of the Year
2014 - CNBC RQ 50 - #18 Ranked Most Innovative Companies/R&D
2014 - Solar Power World - #1 Ranked Top 400 Solar Contractors, Top 50 Solar EPC's
2014 - Intersolar North American Solar Projects of the Year - Agua Caliente Solar Project
2014 - MEED Quality Projects Awards - UAE Power Project of the Year - Phase I, Mohammed bin Rashid Al Maktoum Solar Park, Dubai
2014 - MEED Quality Projects Awards - Gulf Cooperation Council Power Project of the Year - DEWA13
2013 - Platts 2013 Global Energy Awards - Stewardship Awards: Green Energy Supplier
2013 - 4th Annual International Solar Awards - Solar Award for Excellence
2013 - IHS Research - #1 Ranked Solar EPC
2013 - R&D Magazine - R&D 100 Winning Technology - TetraSun Solar Cell
2013 - SNEC 2013 – Terawatt Award - Series 3 Black Module
2013 - American Business Awards - Company of the Year - Bronze Ranking (Energy/Utilities)
2013 - ENR – No. 2 Ranked Top Contractor in Power Sector
2013 - Power & Electricity World Africa - Africa Energy Award for Best Renewable Technology
2013 - Utility Variable Generation Integration Group - Achievement Award - Mahesh Morjaria
2013 - ENR Southwest - Owner of the Year
2013 - Wiki-Solar - #1 Ranked Project Developer
2013 - SEIA and SEPA - PV Projects of Distinction Awards - Mount St. Mary's Project
2013 - IMS Research - #1 Ranked EPC Company 2012
2013 - Project Finance - North American Solar Deal of the Year 2012 - Topaz
2013 - Imperial Valley Economic Development Corp - Project of the Year - Tenaska Imperial Solar Energy Center South
2012 - ENR - Top 400 Contractor- Ranked #5 in Power Sector
2012 - Solar Power World - Top 100 Solar Contractors
2012 - Project Finance - Project Finance Deal of the Year 2011- Desert Sunlight
2012 - Power Intelligence - Best Renewables Deal - Desert Sunlight
2012 - Solar Power Generation USA PV - Project of the Year - Agua Caliente
2012 - Renewable Energy World.com - Solar Project of the Year - Agua Caliente
2012 - Malaysia Greentech Awards - Gold Award - Manufacturing
2012 - CLP Resources - Safety Partner of the Year 2011
2011 - POWER Magazine - Top Renewable Plant - Sarnia
2011 - POWER Magazine - Top Renewable Plant - Copper Mountain Solar 1
2011 - MIT Technology Review - TR50 - One of 50 Most Innovative Companies in the World
2011 - Renewable Energy World.com - Solar Project of the Year 2010 - Copper Mountain
2010 - MIT Technology Review - TR50 - One of 50 Most Innovative Companies in the World
2010 - CanSIA - Solar PV Project of the Year - Sarnia
2010 - Renewable Energy World.com - Solar PV Project of the Year 2009 - Sarnia
2013 - SEIA and SEPA - PV Projects of Distinction Awards - Mount St. Mary's Project
2013 - IMS Research - #1 Ranked EPC Company 2012
2013 - Project Finance - North American Solar Deal of the Year 2012 - Topaz
2013 - Imperial Valley Economic Development Corp - Project of the Year - Tenaska Imperial Solar Energy Center South
2012 - ENR - Top 400 Contractor- Ranked #5 in Power Sector
2012 - Solar Power World - Top 100 Solar Contractors
2012 - Project Finance - Project Finance Deal of the Year 2011- Desert Sunlight
2012 - Power Intelligence - Best Renewables Deal - Desert Sunlight
2012 - Solar Power Generation USA PV - Project of the Year - Agua Caliente
2012 - Renewable Energy World.com - Solar Project of the Year - Agua Caliente
2012 - Malaysia Greentech Awards - Gold Award - Manufacturing
2012 - CLP Resources - Safety Partner of the Year 2011
2011 - POWER Magazine - Top Renewable Plant - Sarnia
2011 - POWER Magazine - Top Renewable Plant - Copper Mountain Solar 1
2011 - MIT Technology Review - TR50 - One of 50 Most Innovative Companies in the World
2011 - Renewable Energy World.com - Solar Project of the Year 2010 - Copper Mountain
2010 - MIT Technology Review - TR50 - One of 50 Most Innovative Companies in the World
2010 - CanSIA - Solar PV Project of the Year - Sarnia
2010 - Renewable Energy World.com - Solar PV Project of the Year 2009 - Sarnia
“First Solar’s industry-leading technology makes solar PV an excellent option for clean, emission-free power we can deliver to our customers. When we get projects of this magnitude, we make great progress toward our renewable energy goals.”
– Marc Ulrich, SCE Vice President, Renewable and Alternative Power
“Copper Mountain Solar 2 [First Solar Project] is a great opportunity for PG&E to continue down the path toward a clean energy future – a vision we share with our customers. We are delighted to be part of this partnership that will allow us to deliver more green power to meet our customers’ long-term electricity needs.”
– Fong Wan, PG&E Senior Vice President for Procurement
“As energy needs continue to increase, the Topaz project will allow MidAmerican to produce renewable energy for thousands of Californians. This project also demonstrates that solar energy is a commercially viable technology without the support of governmental loan guarantees and reflects the type of solar and other renewable generation that MidAmerican will continue to seek to add to its unregulated portfolio.”
– Greg Abel, Chairman, President, and CEO, MidAmerican Energy
“The selection of First Solar to design and build Imperial Solar Energy Center South is a significant milestone in the development of new renewable sources of energy for Southern California. First Solar is among the most respected and experienced manufacturers of solar energy systems in the United States, and we are pleased to obtain the company’s services for our Imperial Solar facility."
– Bart Ford, Tenaska Vice President of Development
FOR MORE INFO VISIT http://www.firstsolar.com/
