[First Solar announces vigorous 2014 outlook ]
The U.S. solar company's financial guidance predicts net sales to reach $4bn this year as plans are announced to boost rooftop growth.
First Solar on Wednesday said it expected net sales in 2014 to range between $3.7 and $4 billion and consolidated operating income of between $270 and $320 million – the highest for nearly three years. Announcing its full-year guidance as well as summary financial targets through 2016, the company predicted its consolidated gross margin to be between 16% and 18%, with diluted earnings per share at between $2.20 and $2.60. The company also expects to generate $250 to $450 million of operating cash flow and plans for approximately $300 to $350 million in capital expenditures in 2014. For 2015, the company forecast net sales of between $3.8 to $4.3 billion and for 2016 between $3.8 and $4.5 billion. Utilizing more rooftops
Looking ahead, First Solar has also revealed this week bold plans to pivot the company’s chief market demographic, switching focus to industrial-scale rooftop installations as demand for large-scale solar farms decreases. In pursuing smaller projects over the next three years, says First Solar CEO Jim Hughes, the company may increase sales by as much as 36%. "We’re more confident than ever that we can compete for rooftops," he told Bloomberg.
Markets & Trends, Global PV markets, Industry & Suppliers | By: Ian Clover and Edgar Meza
The U.S. solar company's financial guidance predicts net sales to reach $4bn this year as plans are announced to boost rooftop growth.
First Solar on Wednesday said it expected net sales in 2014 to range between $3.7 and $4 billion and consolidated operating income of between $270 and $320 million – the highest for nearly three years. Announcing its full-year guidance as well as summary financial targets through 2016, the company predicted its consolidated gross margin to be between 16% and 18%, with diluted earnings per share at between $2.20 and $2.60. The company also expects to generate $250 to $450 million of operating cash flow and plans for approximately $300 to $350 million in capital expenditures in 2014. For 2015, the company forecast net sales of between $3.8 to $4.3 billion and for 2016 between $3.8 and $4.5 billion. Utilizing more rooftops
Looking ahead, First Solar has also revealed this week bold plans to pivot the company’s chief market demographic, switching focus to industrial-scale rooftop installations as demand for large-scale solar farms decreases. In pursuing smaller projects over the next three years, says First Solar CEO Jim Hughes, the company may increase sales by as much as 36%. "We’re more confident than ever that we can compete for rooftops," he told Bloomberg.
Markets & Trends, Global PV markets, Industry & Suppliers | By: Ian Clover and Edgar Meza