First Solar, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, net sales reached $1.5 billion, an increase of $0.6 billion from the prior quarter, primarily due to increased module sales. Full-year 2024 net sales were $4.2 billion, marking a 27% increase from 2023.
The company reported diluted earnings per share of $3.65 for Q4 2024, contributing to a full-year diluted EPS of $12.02. While the full-year EPS came in below the updated guidance range of $13.00-$13.50, the company's year-end net cash balance increased to $1.2 billion, driven by initial proceeds from the sale of 2024 Section 45X tax credits.
First Solar provided robust guidance for 2025, projecting net sales between $5.3 billion and $5.8 billion and diluted EPS between $17.00 and $20.00. This outlook includes an expectation of $1.65 billion to $1.7 billion in Section 45X tax credits. The company also forecasts capital expenditures between $1.3 billion and $1.5 billion to support its ongoing capacity expansions.
Despite the strong guidance, First Solar acknowledged several challenges, including ongoing litigation against a Chinese competitor, approximately $56 million in warranty charges related to Series 7 issues, and increased competition in Europe. These factors are expected to influence performance in the coming year, even as the company continues to expand its U.S. manufacturing footprint and R&D capabilities.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.