Why First Solar Shares Are Falling

First Solar, Inc. FSLR shares are trading lower by 15.8% at $63.70 Wednesday morning after the company reported worse-than-expected fourth-quarter sales results and issued FY22 guidance.

First Solar reported quarterly earnings of $1.23 per share which beat the analyst consensus estimate of $1.06 by 16.04 percent. First Solar also reported quarterly sales of $900.00 million which missed the analyst consensus estimate of $917.69 million by 2%. This sales figure represents a 48% increase over sales of $609.23 million the same period last year.

First Solar sees FY22 EPS as low as breakeven and as high as 60 cents, which may not compare to the analyst consensus estimate of $1.92. First Solar also sees net sales of $2.4 billion-$2.6 billion, which may not compare to the analyst consensus estimate of $2.76 billion.

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity.

First Solar has a 52-week high of $123.12 and a 52-week low of $61.24.