First Solar Raises 2018 Guidance - Quick Facts

(RTTNews) - First Solar, Inc. (FSLR) has raised its 2018 revenue, EPS, and net cash guidance as a result of revised systems project sale timing, increased Series 4 production, the expected sale of 8point3 and other developments. Earnings per share are now projected to be in the range of $1.50 to $1.90, up from prior guidance range of $1.25 to $1.75. Net sales are now expected in a range of $2.45 to $2.65 billion, revised from prior guidance of $2.3 to $2.5 billion.

The company reported a fourth-quarter GAAP loss per share of $4.14. The results included charges of $408 million, or $3.91 per share, from U.S. tax reform. Non-GAAP loss per share was $0.25, for the fourth quarter. Net sales for the fourth quarter were $339 million. The company said its fourth quarter net sales were slightly lower than guidance as a result of certain foreign project sales that are now expected to be recognized in 2018.