First Solar Q4 earnings more than double, ahead of red ink in Q1

first_imgFirst Solar Q4 earnings more than double, ahead of red ink in Q1Thanks to the completion of several large-scale projects at the end of last year, leading thin-film module maker First Solar saw fourth-quarter earnings more than double to $1.89 per share compared with the third quarter on 13% higher net sales totaling just over $1 billion. February 25, 2015 Garrett Hering Finance Legal Manufacturing Markets Markets & Policy Share The Arizona-based company on Tuesday posted earnings per share of $3.91 in 2014 on $3.4 billion in sales, compared to $3.70 per share on approximately $3.3 billion in net sales in 2013. First Solar shipped 1.5 GW of its cadmium-telluride-based thin-film panels in 2014 and booked 2.5 GW of supply deals for third-party and self-developed projects. “We closed 2014 with strong execution across all fronts,” said Jim Hughes, chief executive of First Solar, in a statement. “We have exceeded the earnings per share, operating cash flow and bookings targets that we set at our 2014 Analyst Day. In addition we have announced another new record cell efficiency. With our strong bookings we are well positioned as we enter 2015 and remain focused on executing to our strategy.” First Solar boosted the average sunlight-conversion efficiency of its panels by 100 basis points to 14.4% in the fourth quarter of 2014 compared to the prior-year fourth quarter. Its best lines, which operated at 14.8% in the fourth quarter, already are at 15.8% this month, said Hughes during a conference call with analysts. The company forecast sales of $550 to $650 million in this year’s first quarter and a loss of $0.35 to $0.35 per share. First Solar attributed the declines to the late 2014 completions of the 550 MW Desert Sunlight and Topaz projects in California, which currently are the world’s largest operating solar power plants, as well as “the retention of projects on balance sheet in relation to the announced plan to pursue a joint yieldco vehicle with SunPower.” First Solar declined to provide full-year financial guidance, pending full disclosure of the details of the joint venture.Popular content The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. 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The re… Solar park built on rough wooden structures comes online in France Gwénaëlle Deboutte 26 April 2021 pv-magazine.com French company Céléwatt energized its 250 kW ground-mounted array, built with mounting structures made of raw oak wood.April 26, 2021 Gwénaëlle Debo… Spanish developer plans 1 GW solar plant coupled to 80 MW of storage, 100 MW electrolyzer Pilar Sánchez Molina 22 April 2021 pv-magazine.com Soto Solar has submitted the project proposal to the Ecological Transition and the Demographic Challenge (Miteco). The solar plant could start produc… We all trust the PV performance ratio test Dario Brivio, Partner 20 April 2021 pv-magazine.com The performance ratio test is at the core of the handover from EPC to owner. Yet sometimes, even when best practice is applied – and without particul… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… 123456Share pv magazine The pv magazine editorial team includes specialists in equipment supply, manufacturing, policy, markets, balance of systems, and EPC.More articles from pv magazine Related content Solar and silver price hikes pv magazine 7 April 2021 pv-magazine.com The PV industry has experienced several rounds of price increases since the second half of 2020, from polysilicon to mat… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German enginee… Global database for PV system performance Ralph Diermann 20 April 2021 pv-magazine.com The database brings together photovoltaic performance data and meteorological values from PV systems located in all climate zones. 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Harris: New coach models arriving here very soon

first_imgHarris Auto has announced that the first 12m Higer integral coach will arrive at its Dublin base in July and that a battery-electric 33/35-seat midicoach from the Chinese manufacturer with a promised range of 300km is also imminent.Both developments come as Harris, which has a sales and support presence in the UK, says it is “stepping up operations” in its coach and bus division.Its work with Anadolu Isuzu on the AOS-branded Visigo rear-engined midicoach (pictured) is also about to bear fruit. The first production models arrive in Ireland this month. They will be to touring specification with 33 or 37 seats and include models with a rear floor-level toilet.“A number of operators have shown strong interest and deliveries of the first vehicles will be announced shortly,” says Sales Manager Chris Haughton.A further newcomer will be an Iveco Daily-based midicoach called the Crusader. Built in Turkey, the Crusader will seat 33 and have what Harris describes as “a highly-specified interior.”Harris is also working to advance the specification of the Higer Super 9 rear-engined midicoach, which shares a driveline of the Cummins ISB6.7 engine and ZF EcoLife gearbox with the Visigo.last_img read more