First Solar Targets Revenue of $4.4 bn and Operating Income of $1.5 bn in 2024

By Editor


First Solar is targeting sales in the range of $4.4 billion to $4.6 billion, with operating income of between $1.5 billion and $1.6 billion for 2024.

In the fourth quarter, First Solar recorded sales of $1.2 billion, marking a notable increase of $0.4 billion compared to the previous quarter. This surge was primarily attributed to heightened module sales during the period.

In 2023, First Solar reported total sales of $3.3 billion, representing a significant uptick from the $2.6 billion recorded in the preceding year. The upswing was fueled by amplified module volumes sold and favorable average selling prices (ASPs).

For the fourth quarter, First Solar revealed a net income per diluted share of $3.25, while the full-year net income per diluted share amounted to $7.74, underlining the company’s strong performance across the year.

First Solar directed substantial capital expenditures toward expanding manufacturing capacities in key locations such as Alabama, Ohio, Louisiana, and India, reflecting its commitment to bolstering production capabilities.

Mark Widmar, CEO of First Solar, highlighted accomplishments such as scaling manufacturing capacity, commencing operations at the new facility in Louisiana, achieving record module volumes, and augmenting the contracted backlog to unprecedented levels.

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