First Solar (FSLR) is set to report earnings tonight after the close with a conference call to follow at 4:30pm ET. FSLR usually reports around 4:05pm. 

Current Capital IQ consensus stands at a Loss of $0.15 per share on Revenue of $669.7 mln.

FSLR has been in a downward trend over the past 15 months. An over capacity issue started the headwinds. 

2017 Guidance

  • FSLR reaffirmed in-line guidance for FY17, seeing EPS of $0.00-0.50 (Unchanged) vs. $0.38 Capital IQ Consensus Estimate.
  • FSLR raised its FY17 revs to $2.8-2.9 bln vs. then- $2.53 bln Capital IQ Consensus Estimate. (Prior $2.5-2.6 bln); 
  • Gross Margins between 11-13% (Prior 12.4-14.5%); 
  • Operating Expense Non-GAAP $280-300 mln (Unchanged);
  • Operating Income Non-GAAP $40-80 mln (Unchanged); 
  • Net Cash Balance $1.4-1.6 bln (Unchanged);
  • Operating Cash Flow $250-350 mln (Prior $550-650 mln); 
  • CapEx $525-625 mln (Unchanged);
  • Shipments 2.4-2.6 GW (Unchanged).

Electric Grid Study

On April 15, U.S. Energy Secretary Rick Perry ordered a study of the U.S. electric grid, with an eye to examining whether policies that favor wind and solar energy are accelerating the retirement of coal and nuclear plants. It will be a 60-day review.

TECHS:

Shares of FSLR are showing some signs of life after finding support at the $26. t. 

Expectations for results are low. If shares are able to hold $26 and the company maintains its full year outlook, the stock could continue its rise.