First Solar reported increasing revenue and income in the first Quarter 2021

First Solar module production in Perrysburg, Ohio, USA

First Solar Inc., US manufacturer of cadmium telluride thin film modules, reported net sales for the first quarter 2020 of $803 million (an increase of $194 million from the prior quarter) compared to $532 million in the same period 2020. The increase was mainly driven by an increase in systems revenue by U.S. project sales. Operating income for the first quarter was $252 million, compared to $58 million in the prior quarter. Net income as of March 31 was $209 million, compared to $90 million in Q1 2019. Nameplate manufacturing capacity increased to 7.9 GW in Q1 2021.
Full year 2021 guidance has been updated to net sale of $2.85 billion to $3.025 billion (prior $2.85 billion to $3.0 billion), which includes $2.45 billion to $2.55 billion of module segment net sales, according to an announcement in February. In 2020, First Solar achieved net sales of $2.7 billion. Shipments in 2021 are unchanged expected to be in a range of 7.8 to 8.5 GW.
© PHOTON

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