First Solar posts revenue decline and net loss, but gives optimistic guidance
Post date: 02/03/2023 - 11:22
U.S. solar company First Solar Inc. ended 2022 with sales of $ 2.619 billion, down about ten percent from the previous year's $2.923 billion. The company posted a net loss of $ 44.2 million, down from a profit of $ 468.7 million in 2021.
However, the manufacturer of cadmium telluride thin-film modules, which is currently massively expanding its production capacities at its U.S. sites in Indiana and Ohio, is very optimistic about the future. A disproportionately high share of 2022 revenue, around $ 1 billion, was generated in the fourth quarter alone. At the same time, First Solar achieved an order volume of twelve gigawatts (GW) in the fourth quarter, with a volume of 48.3 GW booked during the entire year. For 2023, the company forecasts sales volume of 11.8 to 12.3 GW with revenue of $ 3.4 to $ 3.6 billion.