First Solar, Inc. (Nasdaq: FSLR), a leading American solar technology company, reported its financial results for the fourth quarter and full year ended December 31, 2023, on February 27, 2024. The company announced a significant increase in net sales, reaching $3.3 billion for the year and $1.2 billion for the fourth quarter, compared to $2.6 billion in the previous year. The growth was attributed to higher module volumes sold and increased average selling prices. Net income per diluted share stood at $7.74 for the year and $3.25 for the fourth quarter. The year-end net cash balance was $1.6 billion, up from $1.3 billion at the end of the previous quarter. First Solar also provided guidance for 2024, projecting net sales between $4.4 billion and $4.6 billion, and earnings per diluted share in the...Show More

First Solar, Inc. (Nasdaq: FSLR), a leading American solar technology company, reported its financial results for the fourth quarter and full year ended December 31, 2023, on February 27, 2024. The company announced a significant increase in net sales, reaching $3.3 billion for the year and $1.2 billion for the fourth quarter, compared to $2.6 billion in the previous year. The growth was attributed to higher module volumes sold and increased average selling prices. Net income per diluted share stood at $7.74 for the year and $3.25 for the fourth quarter. The year-end net cash balance was $1.6 billion, up from $1.3 billion at the end of the previous quarter. First Solar also provided guidance for 2024, projecting net sales between $4.4 billion and $4.6 billion, and earnings per diluted share in the range of $13.00 to $14.00. The company's CEO, Mark Widmar, highlighted the significance of 2023 in terms of long-term growth strategy, including scaling manufacturing capacity and expanding the contracted backlog to historic levels. The company's conference call and press release also detailed the financial outlook for 2024, including capital expenditures of $1.7 billion to $1.9 billion and volume sold projected to be between 15.6GW and 16.3GW.