First Solar (FSLR) is a solar energy company that designs and manufactures solar power systems and modules. The company also offers support services like construction, maintenance, and recycling.
In its most recent quarter, First Solar reported earnings per share of $1.96, crushing the expected EPS of $1.03. Meanwhile, revenue came in at $803 million, beating the anticipated $785.1 million.
And the firm expects this trend to continue throughout 2021…
For the entire year, FSLR said EPS could be as high as $4.75 versus the estimated $4.11. Revenue is expected to be $3.03 billion, topping the consensus of $2.97 billion.
But First Solar has even longer-term tailwinds as well. In April, the firm provided information about its next-generation photovoltaic (PV) technology.
According to the company, its new copper replacement system has the lowest degradation rate of any system in the industry. In fact, its roughly 60% lower than the average one on the market.
That means it has a long lifespan. In fact, First Solar noted the system would be 92% effective by the end of its 30-year warranty.
That’s the kind of durability you want to see from companies’ products as the world continues to shift over renewables.
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