THIS STORY HAS BEEN UPDATED AFTER THE COMPANY OFFERED GUIDANCE & SUPPLY PACT DATA. THE FULL STORY CAN BE SEEN HERE:
First Solar, Inc. (NASDAQ: FSLR) posted earnings of $1.20 per share on$348.69 million in revenue. First Call had estimates for this quarterof $1.01 per share and $339.29 million in revenue.
If the company offers guidance in its conference call, its nextquarter’s estimates are $1.23 EPS and $409.27 million in revenue,and Fiscal DEC-2009 estimates are $6.71 EPS and $2.13 billion inrevenue.
If the company’s targets are met for 2008 at $3.68 EPS and $1.21billion in revenue, First Solar will trade at 32.7-times earnings and8.1-times revenues. So this is still trading at much higher multiplesthan many growth stocks, but it is no longer at levels which cannot besustained.
Shares closed up almost 1.5% at $115.75 and shares are floating up anddown between positive and negative right after the earnings.
Jon C. Ogg
October 29, 2008