First Solar Inc (OQ:FSLR)
Business Focus: Photovoltaic Solar Systems & Equipment
| Sector: Energy | Industry: Renewable Energy Equipment & Services |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 350 West Washington Street, Suite 600 TEMPE AZ 85288 |
| Tel: | N/A |
| Website: | https://www.firstsolar.com/en-Emea |
| IR: | See website |
| Key People | ||
| Mark R. Widmar Chief Executive Officer, Director | Alexander R. Bradley Chief Financial Officer | Caroline Stockdale Chief People and Communications Officer |
| Markus Gloeckler Chief Technology Officer | Jason E. Dymbort General Counsel, Secretary | Georges Antoun Chief Commercial Officer |
| Patrick James Buehler Chief Product Officer | Michael Koralewski Chief Supply Chain Officer | Kuntal Kumar Verma Chief Manufacturing Officer |
| Business Overview |
| First Solar, Inc. is a solar technology company and global provider of photovoltaic cells (PV) solar energy solutions. The Company manufactures and sells PV solar modules with a semiconductor technology, which provides an alternative to conventional crystalline silicon PV solar modules. The Company operates through two segments: Modules Business and Other. Its Modules Business segment is involved in the designing, manufacturing, and selling of CdTe solar modules, which convert sunlight into electricity. Third-party customers of the modules business segment include developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The Company's products include the Series 7 Module and Series 6 Plus module. The Company has its manufacturing locations in Malaysia, the United States and Vietnam. Its subsidiaries include First Solar Development, LLC, First Solar FE Holdings Pte. Ltd., and First Solar Malaysia Sdn. Bhd. |
| Financial Overview |
| For the three months ended 31 March 2024, First Solar Inc revenues increased 45% to $794.1M. Net income increased from $42.6M to $236.6M. Revenues reflect Modules segment increase of 48% to $793.4M. Net income benefited from Production start-up decrease of 21% to $15.4M (expense), Foreign currency gain (loss) decrease of 52% to $2.9M (expense). Basic Earnings per Share excluding Extraordinary Items increased from $0.40 to $2.21. |
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