NASDAQ$FSLR
First Solar, Inc. · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
First Solar reported strong Q2 2024 results, driven by increased module volume and average selling price.
First Solar announced Q2 2024 financial results with net sales of $1.0 billion and net income per diluted share of $3.25. The company maintains its full-year 2024 guidance and has a net cash balance of $1.2 billion.
- Net sales reached $1.0 billion.
- Net income per diluted share was $3.25.
- Net cash balance totaled $1.2 billion.
- Full-year 2024 guidance remains unchanged.
Headline financials
Revenue & EPS history
First Solar · Revenue · Quarterly
$1.01B
Forward guidance
First Solar maintains its full-year 2024 guidance.
Tailwinds
- Net Sales: $4.4B to $4.6B
- Gross Margin: $2.0B to $2.1B
- Operating Expenses: $455M to $485M
- Operating Income: $1.5B to $1.6B
- Earnings per Diluted Share: $13.00 to $14.00
Headwinds
- Net Cash Balance: $0.6B to $0.9B
- Capital Expenditures: $1.8B to $2.0B
- Volume Sold: 15.6GW to 16.3GW
- Second half earnings cadence perspective, net sales and cost of sales profile, excluding the advanced manufacturing production credit available to us under Section 45X of the Internal Revenue Code (“Section 45X tax credit”), to be approximately 40 % in the third quarter and 60% in the fourth quarter.
- Forecast Section 45X tax credits of approximately $240 million in the third quarter and $335 million in the fourth quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.1%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+5.7%
Avg return
30 days after
46%
33 / 72 earnings
Positive
+29.2%
Q2 2022
Best reaction
-17.4%
Q4 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.9% | +15.1% | +60.7% | |
| Q4 2025 | -3.5% | -17.8% | -21.8% | |
| Q3 2025 | +10.0% | +18.8% | +16.8% | |
| Q1 2025 | -8.3% | -7.3% | +15.2% | |
| Q4 2024 | +6.4% | -13.4% | -13.7% | |
| Q3 2024 | -3.7% | -0.0% | -6.1% | |
| Q2 2024 | -2.0% | -3.3% | +1.2% | |
| Q1 2024 | +2.4% | +9.9% | +54.1% | |
| Q4 2023 | +3.2% | +9.3% | +16.8% | |
| Q3 2023 | +4.8% | +11.5% | +15.7% | |
| Q2 2023 | +5.6% | +2.7% | -10.1% | |
| Q1 2023 | -8.5% | -11.6% | +1.1% | |
| Q4 2022 | +17.8% | +26.5% | +28.4% | |
| Q3 2022 | +1.0% | +13.1% | +30.5% | |
| Q2 2022 | +29.2% | +29.9% | +58.6% | |
| Q1 2022 | +1.2% | +4.1% | -0.2% | |
| Q4 2021 | -7.7% | -4.6% | +11.2% | |
| Q3 2021 | -0.4% | -2.3% | -15.9% | |
| Q2 2021 | +3.1% | +10.6% | +13.1% | |
| Q1 2021 | -13.7% | -16.8% | -14.2% | |
| Q4 2020 | -8.0% | -5.5% | -2.7% | |
| Q3 2020 | +11.4% | +3.9% | +10.4% | |
| Q2 2020 | +11.0% | +6.8% | +9.6% | |
| Q1 2020 | +2.4% | -6.4% | +19.2% | |
| Q4 2019 | -11.8% | -15.3% | -41.3% | |
| Q3 2019 | -4.7% | -3.6% | -1.6% | |
| Q2 2019 | +3.3% | -2.6% | -3.8% | |
| Q1 2019 | +1.5% | +1.3% | -4.6% | |
| Q4 2018 | +3.9% | +0.4% | +1.4% | |
| Q3 2018 | -7.2% | -6.2% | +2.1% | |
| Q2 2018 | -4.4% | -3.1% | -3.6% | |
| Q1 2018 | +5.9% | -8.2% | -7.2% | |
| Q4 2017 | -7.4% | -4.8% | +5.9% | |
| Q3 2017 | +21.7% | +15.7% | +27.9% | |
| Q2 2017 | +7.5% | +9.3% | +4.4% | |
| Q1 2017 | +14.8% | +16.9% | +29.7% | |
| Q4 2016 | -3.6% | +8.8% | -18.0% | |
| Q3 2016 | -15.9% | -17.8% | -26.6% | |
| Q2 2016 | -8.5% | -8.3% | -20.1% | |
| Q1 2016 | -6.9% | — | — | |
| Q4 2015 | +8.1% | — | — | |
| Q3 2015 | +12.2% | — | — | |
| Q2 2015 | +18.8% | — | — | |
| Q1 2015 | -7.4% | — | — | |
| Q4 2014 | +17.9% | — | — | |
| Q3 2014 | -10.6% | — | — | |
| Q2 2014 | +3.9% | — | — | |
| Q1 2014 | -7.1% | — | — | |
| Q4 2013 | -8.7% | — | — | |
| Q3 2013 | +15.1% | — | — | |
| Q2 2013 | -15.4% | — | — | |
| Q1 2013 | -5.6% | — | — | |
| Q4 2012 | -17.4% | — | — | |
| Q3 2012 | -7.2% | — | — | |
| Q2 2012 | +15.4% | — | — | |
| Q1 2012 | -7.0% | — | — | |
| Q4 2011 | -16.4% | — | — | |
| Q3 2011 | -0.9% | — | — | |
| Q2 2011 | -7.5% | — | — | |
| Q1 2011 | +3.2% | — | — | |
| Q4 2010 | -5.4% | — | — | |
| Q3 2010 | -0.0% | — | — | |
| Q2 2010 | +1.0% | — | — | |
| Q1 2009 | +12.4% | — | — | |
| Q1 2010 | +2.5% | — | — | |
| Q4 2009 | -8.8% | — | — | |
| Q4 2007 | -8.8% | — | — | |
| Q3 2008 | -3.8% | — | — | |
| Q3 2009 | -3.8% | — | — | |
| Q2 2008 | -4.2% | — | — | |
| Q2 2009 | -4.2% | — | — | |
| Q4 2008 | -4.2% | — | — |
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