Why First Solar's Shares Popped 12.2% On Friday
Shares of thin-film solar panel manufacturer First Solar (NASDAQ: FSLR) rose as much as 15.4% in trading on Friday after reporting second-quarter 2022 financial results. Shares closed the day up 12.1%.
Revenue fell 1% to $621.0 million, and net income fell from $82.4 million a year ago to $55.8 million, or $0.52 per share. Results don't seem good on the surface, but analysts were only expecting revenue of $607 million and a loss of $0.44 per share.
Results did include a $245 million pre-tax gain on the sale of a Japanese project development and operating and maintenance platform. But management does expect the year to be better than previously expected, increasing sales guidance by over $150 million to $2.55 billion to $2.8 billion.
Source Fool.com
