First Solar soars after setting 2014-2016 guidance
First Solar (FSLR +11.5%) guides at its 2014 analyst meeting (webcast) for 2014 revenue of $3.7B-$4B and EPS of $2.20-$2.60 vs. a consensus of $3.77B and $3.21.
2015 guidance is for revenue of $3.8B-$4.3B and EPS of $4.50-$6.00 vs. a consensus of $4.24B and $3.68. 2016 guidance (accounts for the winding down of some major utility-scale U.S. projects) is for revenue of $3.8B-$4.5B and EPS of $3.50-$5.00.
After totaling $856M in 2013, operating cash flow is expected to amount to $250M-$450M in 2014, $300M-$600M in 2015, and $800M-$1.3B in 2016.
Whereas most of First Solar's expected 2014 revenue will come from its existing contracted pipeline, most of its expected 2016 revenue won't. The company hadn't provided 2014 guidance with its soft Q4 report.