First Solar, Inc. (NASDAQ: FSLR) surges 1.85% to trade at $120.47 in early trading session as the firm plans to publish financial results for the third quarter on Thursday, October 27, 2022 after the market closes. The Company will have its quarterly conference call to discuss these results and its forecast for 2022. ET. This conference call will be broadcast live for investors.
Shares of the largest U.S. solar business had dropped 4.19% in the previous month, trailing the Oils-Energy sector’s loss of 2.93% but outperforming the S&P 500’s loss of 11.07%.
Investors will be eager for First Solar to show strength as it approaches its next earnings report. The firm is predicted to post earnings per share of -$0.24, a decrease of 157.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is $761.87 million, up 30.57% from the previous year.
First Solar is predicted to lose $0.24 per share in the upcoming quarter, reflecting a -157.1% year-over-year decline. The Zacks Consensus Estimate has stayed steady over the previous 30 days.
The average profits forecast of -$0.08 for the current fiscal year is a drop of -101.8% from the previous year. This estimate has changed by -27.8% in the previous 30 days.
The consensus earnings estimate of $2.36 for the upcoming fiscal year is a difference of +3,046.9% over what First Solar is anticipated to post a year ago. The estimate has changed by +32.6% in the last month.
The previously announced sale of a 293-megawatt (MW) DC utility-scale solar project development platform in Japan to funds controlled by PAG Real Assets has been finalized by First Solar, Inc. (NASDAQ: FSLR).
In the nation, the platform manages roughly 665 megawatts (MW)DC of solar assets. The bulk of First Solar O&M staff in Japan has joined PAG as part of the deal.
First Solar had earlier stated that it has entered into a formal agreement under which PAG would buy First Solar’s solar operations and maintenance (O&M) platform in Japan, which currently manages roughly 665 MWDC. This deal is scheduled to conclude in the second half of 2022, subject to regulatory approvals, third-party consents, and other normal closing conditions.