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First Solar reports strong 2024 financial results and optimistic forecast for 2025

First Solar, Inc. announced net sales of $4.2bn for 2024 and forecasts a significant increase in 2025, with projections ranging from $5.3bn to $5.8bn.

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First Solar, Inc., a leader in solar module manufacturing, has reported net sales of $4.2bn for 2024, up from $3.3bn in the previous year. This increase is primarily due to a higher volume of modules sold to third parties.

The diluted earnings per share (EPS) for 2024 reached $12.02, reflecting a robust financial performance. In the fourth quarter, net sales amounted to $1.5bn, a rise of $0.6bn from the previous quarter, driven by increased module sales.

Forecast for 2025

For 2025, First Solar expects net sales to range between $5.3bn and $5.8bn. The diluted EPS is estimated to be between $17.00 and $20.00. The company also forecasts a year-end net cash balance of between $0.7bn and $1.2bn, despite expected capital expenditures between $1.3bn and $1.5bn, which will primarily go towards expanding its facilities in Alabama and Louisiana.

Strategic Expansion and Investments

In 2024, First Solar strengthened its production capacity by opening its facility in Alabama and continuing the construction of a new plant in Louisiana. Additionally, the company established a research and development centre in Ohio, aimed at accelerating technological innovation. These initiatives are part of a broader strategy to expand in response to growing demand for solar modules.

Market Outlook and Competitive Position

According to an analysis by Bloomberg Intelligence, US-listed solar companies such as First Solar could see their revenues approach $40bn by 2026, driven by the growth of data centres and emerging technologies. This market dynamic positions First Solar advantageously to capitalise on the rising demand for solar energy.

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