First Solar, Inc. (NASDAQ:FSLR) reported its fourth-quarter results after Tuesday's closing bell. Here's a look at the details from the report. 

The Details: First Solar reported quarterly earnings of $3.65 per share, which missed the analyst consensus estimate of $4.71. Quarterly revenue clocked in at $1.51 billion, which beat the analyst consensus estimate of $1.46 billion and is an increase over revenue of $1.15 billion from the same period last year.

The company reported 2024 net bookings of 4.4 GW with an average selling price of 30.5 cents per watt and ended 2024 with a net cash balance of $1.2 billion.

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First Solar also announced it initiated legal action against JinkoSolar, alleging infringement of TOPCon technology patents.

“In 2024, we continued building the foundations required for our long-term growth strategy,” said Mark Widmar, CEO of First Solar.

“Even as we maintained a highly selective approach to bookings, we expanded manufacturing capacity by commissioning our Alabama facility and progressed construction of our new Louisiana facility, established the infrastructure we anticipate will accelerate innovation with a new R&D center in Ohio, and produced and shipped a historic volume of modules,” Widmar added.

Outlook: The company issued the following fiscal 2025 guidance:

• 2025 net sales guidance of $5.3 billion to $5.8 billion
• 2025 earnings per diluted share guidance of $17 to $20
• 2025 year-end net cash balance guidance of $0.7 billion to $1.2 billion

FSLR Price Action: According to data from Benzinga Pro, First Solar shares are up 1.73% after hours at $151.01 Tuesday.  

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