First Solar Announces Full Year 2016 Guidance

First Solar, Inc. announced full year 2016 financial guidance. Forecasted net sales for 2016 are $3.9 to $4.1 billion, with solar power systems net sales expected to comprise 90% to 95% of the total and third party module sales the remainder. Earnings per share is forecasted to be $4.00 to $4.50 per share, including a gain from the expected sale of an equity method investment and the company’s share of 8point3 earnings.

The ending net cash balance is projected to increase by the end of 2016 to $2.0 to $2.3 billion. The compay anticipates gross margin between 16% and 18%. Capital expenditures of $300 to $400 million are higher than 2015 forecasted levels as the company invests in further advancements in its cost and technology roadmap.