First Solar Sees 2014 EPS Below View, But 2015 EPS Above View

(RTTNews) - U.S. solar panel maker First Solar Inc. (FSLR) announced full-year 2014 guidance as well as summary financial targets through 2016.

For 2014, First Solar expects net sales of $3.7 billion to $4.0 billion. Earnings per share is expected to be between $2.20 and $2.60, and consolidated operating income is expected to be between $270 and $320 million. Analysts polled by Thomson Reuters expect the company to report earnings of $3.21 per share and revenues of $3.77 billion for fiscal 2014. Analysts' estimates typically exclude special items.

The company expects to generate between $250 million to $450 million of operating cash flow and plans for approximately $300 million to $350 million in capital expenditures in 2014.

Looking ahead for fiscal year 2015, the company projects earnings per share to be in the range of $4.50-$6.00, operating cash flow of $300 million to $600 million, and net sales of $3.8 billion to $4.3 billion. Street currently is looking for fiscal year 2015 earnings of $3.68 per share on annual revenues of $4.24 billion.

For fiscal 2016, the company anticipates earnings per share to be in the range of $3.50-$5.00, operating cash flow of $800 million to $1.3 billion, and net sales of $3.8 billion to $4.5 billion.