First Solar, a leading US-based solar module manufacturer, is set to release its Q4 2023 results later this month, with expectations of a significant uptick in sales in the U.S. The company is projected to report revenues of approximately $1.33 billion for the quarter, reflecting a 32% increase compared to the previous year and slightly surpassing consensus estimates. Earnings are anticipated to be $3.15 per share, in line with market expectations.
First Solar has experienced improved profitability in recent quarters, driven by higher panel shipments, rising average selling prices, cost reductions, and smoother supply chain operations. The company has been ramping up production and sales in the United States, benefiting from the U.S. Inflation Reduction Act. Notably, First Solar recently announced agreements for the sale of up to $700 million in tax credits earned under the act in 2023.
