First Solar beats by $0.05, misses on revs; guides FY18 EPS above consensus, revs above consensus
- Reports Q4 (Dec) loss of $0.25 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of ($0.30); revenues fell 29.4% year/year to $339 mln vs the $459.93 mln Capital IQ Consensus.
- Co issues upside guidance for FY18, sees EPS of $1.50-1.90 (Prior $1.25-1.75), excluding non-recurring items, vs. $1.50 Capital IQ Consensus Estimate; sees FY18 revs of $2.45-2.65 (Prior $2.3-2.5 bln) vs. $2.47 bln Capital IQ Consensus Estimate.
- Lowers Gross Margin guidance to 21.5-22.5%; Prior 22-23%
- OpEx Unchanged at $400-410 mln
- Op Income $130-180 mln (Prior $110-170 mln)
- Net Cash Balance $2.1-2.3 bln (Prior $1.6-1.8 bln)
- Op Cash Flow Unchanged at $100-200 mln
- CapEx $700-800 mln (Prior $650-750 mln)
- Shipments 2.9-3.0 GW (Prior 2.7-2.8 GW)