First Solar Predicts 3 GW Of Shipments For 2016
First Solar, one of the world’s premier solar PV manufacturers, expects to ship between 2.9 and 3.0 GW worth of product in 2016, according to new financial guidance.
The US-based PV manufacturer published its full year 2016 guidance on Wednesday, a month after it reported yet another record-breaking third quarter of growth and sales. First Solar finished the third quarter of 2015 with record sales of $1.27 billion, up 42% on Q2’15, and is expected to finish 2015 with total shipments between 2.8 and 2.9 GW.
“We had tremendous execution in the third quarter from both a financial and bookings perspective,” said Jim Hughes, CEO of First Solar, November. “We have now exceeded our book-to-bill target for the year, booked over 1 GWdc of volume with deliveries after 2016, achieved strong quarterly earnings and have significantly raised our full year earnings guidance. We remain confident in our long term strategy and our ability to execute successfully.”
And these highlights are expected to only continue through 2016, according to First Solar’s newly published guidance.
First Solar expects net sales of between $3.9 and $4.1 billion, with solar power systems net sales expected to account for 90% to 95% of the total, with third party module sales making up the remainder. Earnings per share are expected to be in the range of $4.00 and $4.50 per share, which includes a $200 million gain from the expected sale of an equity method investment, as well as First Solar’s share of its yieldco, 8point3 Energy Partners — formed in conjunction with SunPower — earnings.
As of writing, however, shares of First Solar have tanked in after hours trading, down 9.43% to $53.30, on news of the guidance. (SunPower shares have also dropped somewhat in after hours trading.)
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