FSLR earnings call for the period ending March 31, 2024.
The company reported a net profit of $236.6 million, or $2.20 per share, for the three months ended March 31, compared to $42.5 million, or 40 cents per share, in the same period last year. Analysts expected an average of $1.99 per share, according to LSEG data. The U.S. solar market has seen significant momentum since last year, helped by regulatory steps such as the Biden administration's 2022 Inflation Reduction Act, which provides tax credits for panels made in the United States.
First Solar's (FSLR) Q1 results are likely to reflect the benefits of increased sales volume and average selling price per watt sold.