First Solar expects sales of $2.6 bn with operating income of $150 mn

First Solar - AP photo

First Solar said it is expecting sales of $2.4 billion to $2.6 billion with operating income of $55 million to $150 million in 2022.

First Solar’s sales for the fourth quarter of 2021 were $0.9 billion, an increase of $0.3 billion from the prior quarter. The increase was primarily a result of international project sales and increased module sales in the fourth quarter.

First Solar CEO Mark Widmar believes that the company’s financial performance during the last 12 months was impressive as the solar PV manufacturing industry faced supply chain, logistics, cost, and pandemic-related challenges.

The company reported fourth quarter net income per diluted share of $1.23, and full year net income per diluted share of $4.38.

“This year will revolve around continued significant investment in R&D, new products, manufacturing expansion, and employing new contracting strategies, all of which we believe set the stage for sustained growth in 2023 and beyond,” Mark Widmar said.

First Solar also announced today that it is in advanced stage discussions to sell its project development and O&M platform in Japan.