First Solar Reports Q4 Non-GAAP EPS Of $1.24; Maintains Non-GAAP EPS Guidance

(RTTNews) - First Solar, Inc. (FSLR) reported a fourth-quarter loss per share of $6.92, compared to earnings per share of $1.60, prior year. The company said its fourth quarter was impacted by pre-tax charges of $729 million, primarily related to previously announced restructuring actions. Fourth quarter non-GAAP earnings per share were $1.24. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.97 for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net sales were $480.43 million compared to $942.32 million, a year ago. Analysts expected revenue of $412.76 million, for the quarter.

The company updated its 2017 revenue guidance. The revised net sales guidance incorporates the final structuring of the Moapa project sale, which allowed for full revenue recognition on the project. Net sales are now expected to be between $2.8 to $2.9 billion compared to prior outlook of $2.5 to $2.6 billion. First Solar now expects to report a 2017 GAAP loss per share of between $0.80 to $0.05. The company maintained its Non-GAAP 2017 EPS guidance.