Shares of First Solar slid in extended trading after the company's third-quarter revenue missed expectations.
Shares of First Solar slid as much as 2% in after hours trading following the quarterly report.Revenue:Wall Street analysts were expecting the company to earn 59 cents per share. It was not immediately clear whether the reported number is comparable to estimates.
The third-quarter results compare with EPS of 77 cents per share on revenue of $629 million in Q2, and $1.45 per share on revenue of $928 million in the year-ago quarter. First Solar said it produced 2 gigawatts of modules during the third quarter, despite ongoing challenges around freight and from the pandemic. During the period the company started construction and purchased equipment for new factories in Ohio and India.
The company reiterated its full-year 2021 net sales guidance of between $2.88 billion and $3.1 billion. The company lifted its expected cash from a prior high-end forecast of $1.45 billion to $1.55 billion, while saying it expects capital expenditures for the full-year to be lower than previously thought.
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