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First Solar Q1 2024 Earnings Surpass Expectations, Reports $794.11M Revenue and $2.20 EPS Amid Strong Demand.

First Solar (Nasdaq: FSLR) reported its earnings for the first quarter of 2024, exceeding Wall Street consensus expectations on both revenue and earnings per share. The manufacturer of thin-film cadmium telluride solar panels delivered revenues of $794.11 million, beating Wall Street expectations by about 10%. It also delivered an 8.68% surprise over earnings per capita, landing at $2.20 for the quarter. First Solar also reiterated its full-year 2024 guidance outlook for net sales, gross margin, and volume sold. The company has been buoyed by policy tailwinds including a new antidumping and countervailing duty investigation and increased pricing for AD/CVD suppliers. Year-to-date bookings for First Solar totalled 2.7 GW, with an expected sales backlog of over 78.3 GW.

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