First Solar Issues Guidance; To Review Options For U.S. Project Development Unit

(RTTNews) - First Solar, Inc. (FSLR) said, for 2020, the company projects earnings per share to be between $3.25 and $3.75, inclusive of ramp costs, start-up expenses, Series 4 shutdown costs, and other severance costs of approximately $95 million. Net sales for 2020 are anticipated to be $2.7 to $2.9 billion, with third party module net sales expected to comprise approximately 70% of the total net sales. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.56 on revenue of $3.37 billion. Analysts' estimates typically exclude special items. The 2020 ending net cash balance is expected to be in the range of $1.3 to $1.5 billion.

First Solar also announced that it is reviewing options for its U.S. project development business.

Shares of First Solar, Inc. were down 15% after hours.