First Solar, Inc. Reports 64% Decline In Q3 Earnings

(RTTNews) - First Solar, Inc. (FSLR) revealed earnings for third quarter that lost ground from last year.

The company said its earnings totaled $126.6 million, or $1.22 per share. This was lower than $349.32 million, or $3.41 per share, in last year's third quarter.

Analysts had expected the company to earn $0.74 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 45.9% to $688.03 million. This was down from $1271.25 million last year.

First Solar, Inc. earnings at a glance:

-Earnings (Q3): $126.6 Mln. vs. $349.32 Mln. last year. -Earnings Decline (Y-o-Y): -63.8% -EPS (Q3): $1.22 vs. $3.41 last year. -EPS Decline (Y-o-Y): -64.2% -Analysts Estimate: $0.74 -Revenue (Q3): $688.03 Mln vs. $1271.25 Mln last year. -Revenue Change (Y-o-Y): -45.9%

-Guidance: Full year EPS guidance: $4.30 - $4.50 Full year revenue guidance: $2.8 - $2.9 Bln