First Solar Inc of Tempe, AZ, USA, which makes thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services, has announced full-year 2014 guidance as well as summary financial targets through 2016.
For 2014, First Solar expects net sales of $3.7-4bn, up from $3.31bn in 2013. Gross margin should be 16-18%. Operating income is expected to be $270-320m (down from $368m in 2013), and diluted earnings per share $2.20-2.60 (down from $4.35). Operating cash flow should be $250-450m (down from $856m). The firm plans $300-350m of capital expenditures (up from $282.6m in 2013).
Also, for 2015 and 2016 respectively, First Solar expects net sales to rise to $3.8-4.3bn and $3.8-4.5bn, and operating cash flow to rise to $300-600m then $800-1300m. Diluted earnings per share should rise to $4.50-6.00 in 2015 but then fall to $3.50-5.00 in 2016.
Chief financial officer Mark Widmar provided the guidance and outlook during the company’s 2014 Analyst Day event in New York.
