By [email protected] First Solar, the leader in thin-film solar, logged a strong Q1, well ahead of expectations on revenue while modestly raising guidance for 2017.
Gross margin was below some analyst expectations, though. Credit Suisse wrote in a note: “Pricing still stinks, assets still great.” The company has a strong cash position.
The vertically integrated solar manufacturer has been going through a restructuring effort in order to cope with the industry’s weird year of transition. Last year, First Solar laid off staff, optimized manufacturing and rejiggered its product mix.
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