First Solar reported increasing net income in 2020
Post date: 26/02/2021 - 12:24
First Solar, Inc. announced financial results for the fourth quarter and year ended December 31, 2020. Net sales for the fourth quarter were $0.6 billion, a decrease of $0.3 billion from the prior quarter, and a significant drop compared to $1.39 billion in Q4 2019. The company reported fourth quarter net income of $115 million compared to $155 million in Q3 2020 and loss of $59 million in Q4 2019.
Regarding the full year 2020, First Solar achieved net sales of $2.7 billion compared to $3.0 billion in 2019. Net income was $398 million compared to net loss of $114 million in the year before. The company sold modules with a capacity of 5.5 GW.
Forecasted net sales for 2021 are $2.85 billion to $3.0 billion, which includes $2.45 billion to $2.55 billion of module segment net sales. The company targets to sell 7.8 to 8.0 Gigawatt.