First Solar reported increasing revenue and income in the first Quarter 2021
Post date: 03/05/2021 - 12:23
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.