First Solar Q3 EPS falls to $2.91; 2024 net sales outlook cut to $4.10 to $4.25 billion
First Solar reported third quarter 2024 net sales of $887.7 million, down from $1.01 billion in the prior quarter, and diluted earnings of $2.91 per share, down from $3.25. The company cut several 2024 guidance ranges, including net sales to $4.10 billion to $4.25 billion from $4.4 billion to $4.6 billion, and lowered its volume sold outlook, which matters to shareholders because it reduces expected 2024 revenue and profit.
Key points
- Q3 2024 net sales were $887.7 million versus $1.01 billion in Q2 2024; the release cites lower volume sold and a $50 million product warranty reserve charge.
- Diluted EPS was $2.91 for Q3 2024, compared with $3.25 in Q2 2024 and $2.50 in Q3 2023.
- 2024 guidance now calls for operating income of $1.48 billion to $1.54 billion (prior $1.5 billion to $1.6 billion) and volume sold of 14.2 GW to 14.6 GW (prior 15.6 GW to 16.3 GW).
- Cash, cash equivalents and marketable securities, less debt, fell to $0.7 billion from $1.2 billion in Q2, mainly due to capital expenditures for new U.S. factories in Alabama and Louisiana.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 29, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.