First Solar Result Miss View, Shares Slip

(RTTNews) - Shares of First Solar, Inc. (FSLR) slipped 5% after the company's fourth-quarter results fell short of Wall Street estimates.

First Solar reported fourth-quarter profit of $52.1 million or $0.49 per share, compared with last year's loss of $432.5 million or $4.14 per share last year. On average, 13 analysts polled by Thomson Reuters estimated earnings of $0.64 per share for the quarter.

Net sales for the fourth quarter rose to $691.2 million from $339.2 million, primarily due to the sale of certain projects in Japan. Analysts had a consensus revenue estimate of $803.61 million.

Looking forward to the full year 2019, First Solar continues to expect earnings of $2.25 to $2.75 per share and sales of $3.25 to $3.45 billion. Analysts currently expect earnings of $2.56 per share and revenues of $3.27 billion.