First Solar, Inc. (NASDAQ:FSLR) shares are up 4.0% to $141.77 on Tuesday afternoon, with traders and investors looking ahead to the company’s third-quarter earnings report scheduled for the after-hours session.
According to analyst consensus estimates, First Solar is expected to announce earnings of $2.06 per share and revenue of $894.12 million.
First Solar’s stock has seen marked weakness since last week, falling roughly 8%, coinciding with a broader downturn in the solar sector. This decline was triggered by Enphase Energy, Inc.’s weak fourth-quarter guidance, which fell short of market estimates.
What’s Been Happening With Solar Stocks?
Enphase’s third-quarter earnings fell short of expectations, with earnings per share at $1.02 (compared to the estimated $1.03) and revenue of $551.1 million (below the estimated $566.02 million).
The company attributed these disappointing results to elevated inventory levels at distribution partners and decreased demand in important European markets such as the Netherlands, France and Germany.
In the fourth quarter, Enphase anticipates revenue in the range of $300 million to $350 million, which is below the estimated $601.24 million…Read More
According to data from Benzinga Pro, FSLR has a 52-week high of $232.00 and a 52-week low of $132.19.
