PVTIME – First Solar, Inc. (Nasdaq: FSLR), a leading American solar technology company and global provider of comprehensive photovoltaic solar solutions, recently announced its first quarter results.
For the first quarter, First Solar reported net sales of $794 million, down more than 31% year-over-year, net income of $237 million, up $194 million year-over-year, and a gross margin of 43.6%, up 0.2% sequentially and up 23.1% year-over-year.
First Solar produced 2.4GW of Series 6 modules and 1.2GW of Series 7 modules, with total shipments of 2.7GW in the first quarter. 2.7GW of new module contracts were signed during the period, bringing the company’s backlog to 78.3GW with a total value of $23.4 billion, extending to 2030. Specifically, 72.8GW of potential orders, of which 29.4GW are in the mid-to-late stage, including 25.8GW in North America and 3.2GW in India.
In 2024, First Solar expects solar module shipments of 15.6-16.3 GW and net sales of $4.4-4.6 billion.
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