08.01.22
First Solar, Inc. announced financial results for the second quarter ended June 30, 2022.
Net sales for the second quarter were $621 million, an increase of $254 million from the prior quarter, primarily due to increased module sales. Operating income for the second quarter was $145 million, compared to an operating loss of $58 million in the prior quarter.
Second quarter operating income increased primarily due to increased module sales volume and a gain on the sale of the company’s Japan project development platform, partially offset by an impairment associated with a legacy systems business asset in Chile.
The company reported second quarter income per diluted share of $0.52, compared to a loss per diluted share of $0.41 in the prior quarter.
“We are pleased with our second quarter results,” said Mark Widmar, CEO of First Solar. “Our competitive differentiators, including our technology, agile contracting, certainty, and the promise of responsibly-produced solar, have sustained our bookings momentum and continue to drive demand. We now have a record backlog of over 44 GWs, extending the horizon for future expected deliveries to 2026. The 10.4 GWs of new bookings since our prior earnings call in April brings our total year-to-date bookings to 27.1 GWs.”
Net sales for the second quarter were $621 million, an increase of $254 million from the prior quarter, primarily due to increased module sales. Operating income for the second quarter was $145 million, compared to an operating loss of $58 million in the prior quarter.
Second quarter operating income increased primarily due to increased module sales volume and a gain on the sale of the company’s Japan project development platform, partially offset by an impairment associated with a legacy systems business asset in Chile.
The company reported second quarter income per diluted share of $0.52, compared to a loss per diluted share of $0.41 in the prior quarter.
“We are pleased with our second quarter results,” said Mark Widmar, CEO of First Solar. “Our competitive differentiators, including our technology, agile contracting, certainty, and the promise of responsibly-produced solar, have sustained our bookings momentum and continue to drive demand. We now have a record backlog of over 44 GWs, extending the horizon for future expected deliveries to 2026. The 10.4 GWs of new bookings since our prior earnings call in April brings our total year-to-date bookings to 27.1 GWs.”