Why First Solar's Stock Is Falling Today
First Solar (NASDAQ: FSLR) reported its fourth-quarter earnings after the market closed Tuesday, and to the chagrin of investors, it failed to meet analysts' revenue expectations. In addition, clouds seemed to hang heavy over its cash flow statement. These factors, combined with the fact that management provided a less-than-shining forecast for 2022, contributed to traders' decisions to sell the stock lower.
As of 10:42 a.m. ET Wednesday, shares of First Solar were down by 12.6%.
First Solar reported $907.3 million on the top line for the fourth quarter, which came up short of analysts' consensus revenue estimate of $917.7 million. While management didn't directly provide commentary about its sales on the conference call, it did address the issues that have challenged the entire solar energy industry, including "supply chain, logistics, cost, and pandemic-related challenges," so investors can infer that these affected First Solar as well.
Source Fool.com
