First Solar Lowers Sales and Profit Forecasts Citing Tariff Impact

Published 9 hours agoFSLR

First Solar Lowers Sales and Profit Forecasts Citing Tariff Impact

First Solar has announced significant downgrades to its annual sales and profit forecasts, attributing the revisions to challenging economic conditions created by recent U.S. tariffs and a drop in residential demand. The solar company now projects 2025 net sales to range between $4.5 billion and $5.5 billion, down from a previous estimate of $5.3 billion to $5.8 billion. Similarly, earnings per share are expected to come in between $12.50 and $17.50, revised from an earlier forecast of $17.00 to $20.00, according to Reuters.

The U.S. Commerce Department's decision to impose new tariffs on solar cells imported from Southeast Asia has significantly impacted First Solar. These tariffs, which vary based on the company and country, aim to tackle concerns about unfair trade practices affecting the domestic solar industry. The imposition has added pressure to First Solar, exacerbated by falling demand in the U.S. residential sector due to high interest rates and changes in California's metering policies.

Despite these hurdles, First Solar's CEO Mark Widmar remains hopeful about the broader prospects for solar energy in the U.S., suggesting there may be a recovery as markets stabilize over time. While the immediate outlook has seen adjustments, the long-term demand for solar could still provide opportunities for growth.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Booz Allen Hamilton's Stock Shows Modest Gain Amid Strong Defense Contracts

Booz Allen Hamilton's Stock Shows Modest Gain Amid Strong Defense Contracts

29 minutes agoBAH

As of April 30, 2025, there is no current information available about Booz Allen Hamilton securing a reported $743.1 million task order from the U.S. Air Force. However, Booz Allen's most recent significant deal in the defense sector was a $630 million contract awarded by the U.S. Space Force in October 2023. Booz Allen has a notable record of obtaining substantial contracts with various military branches, including a $950 million IDIQ contract for the Advanced Battle Management System in July 2020 and a $998 million IDIQ contract for the Test & Evaluation Technologies effort in April 2018. These contracts highlight the company's robust presence in defense contracting, as detailed on their website. In terms of financial performance, Booz Allen Hamilton's stock (BAH) is currently trading at $120.02, marking a 0.52% increase from the previous close. Despite minor fluctuations, with an intraday high of $120.18 and low of $117.24, the stock reflects a stable outlook as it inches upwards among its reported trading figures of the day.

Clearwater Analytics Reports Strong Q1 Results with Revenue and EPS Exceeding Expectations

Clearwater Analytics Reports Strong Q1 Results with Revenue and EPS Exceeding Expectations

44 minutes agoCWAN

Clearwater Analytics Holdings, Inc. has delivered an impressive performance in its first-quarter 2025 financial results, surpassing both revenue and earnings expectations. The financial software company achieved a revenue of $125 million, marking a 22% increase compared to the previous year. This figure not only aligns with the company's guidance but also exceeds analyst projections. In addition to revenue growth, Clearwater Analytics reported a non-GAAP net income per diluted share of $0.13, beating the consensus estimate of $0.10. This is nearly double the $0.07 reported in the same quarter last year. Furthermore, the company experienced a 25.3% year-over-year increase in Annualized Recurring Revenue (ARR), which now stands at $474.9 million. Enhanced customer retention is reflected in their net revenue retention rate of 116%, up from last year's 107%. Clearwater’s strategy of operational efficiency is evident in their adjusted EBITDA of $41.5 million with a 33% margin. This financial robustness has led to an 8.2% rise in the company's stock price following the earnings announcement, as highlighted by Investing.com. These results demonstrate Clearwater's solid positioning in the investment management software arena and its capacity to sustain growth and profitability.

Allstate Weathers Storm with Improved Third Quarter Results Despite Rising Catastrophe Losses

Allstate Weathers Storm with Improved Third Quarter Results Despite Rising Catastrophe Losses

59 minutes agoALL

Allstate Corporation reported a robust reversal in profits for the third quarter of 2024, surprising many with a net income of approximately $1.2 billion. This marks a significant comeback from the $41 million loss reported in the same period last year. According to Claims Journal, Allstate's property-liability combined ratio improved, dropping to 96.4 from the previous year's 103.4, reflecting better underwriting practices. Despite the positive income figures, Allstate faced significant financial strain due to catastrophe losses amounting to $1.7 billion in the third quarter, which represent a 44% increase from the prior year. This surge in losses mostly stems from damages caused by hurricanes Beryl, Debby, Francine, and Helene, which collectively resulted in over 100,000 claims. In response to these challenges, Claims Journal highlighted that the company's property-liability underwriting income saw a substantial improvement, turning a loss of $414 million last year into a gain of $496 million this quarter. To mitigate the impact of increased catastrophe losses, Allstate has employed several strategic measures, such as implementing rate hikes in both auto and homeowners insurance segments. Insurance Journal reported a 26% rise in new business sales in the auto insurance sector, attributed to an average rate increase of 5.9% across 25 locations. Meanwhile, confronted with a higher homeowners insurance combined ratio of 104.4, the company remains focused on expanding its personal property-liability market share and enhancing protection solutions to sustain profitability amid these challenges.

Qualcomm's Revenue Forecast Falls Short, Shares Decline

Qualcomm's Revenue Forecast Falls Short, Shares Decline

1 hours agoQCOM

Qualcomm recently announced an anticipated third-quarter revenue of around $10.3 billion, which is slightly below analysts' expectations of $10.35 billion. This announcement has raised concerns among investors and impacted the company's stock performance negatively. Qualcomm also provided guidance on its adjusted earnings per share (EPS) for the upcoming quarter, projecting it to be between $2.60 and $2.80, according to Reuters. The shortfall in revenue projections is primarily attributed to weak demand for smartphone chips. This decrease in demand is influenced by macroeconomic factors and ongoing global trade uncertainties. Although Qualcomm is currently exempt from U.S. tariffs, the company is not immune to the effects of escalating trade tensions between China and the U.S. China remains a significant market for Qualcomm, comprising 46% of its sales last fiscal year. Following these developments, the company's shares saw a 6% drop in extended trading. CEO Cristiano Amon has underscored the company's commitment to focusing on its core strengths, such as technology and operational efficiency, to navigate these challenging economic and trade conditions. These strategic priorities aim to support Qualcomm in overcoming the uncertainties in its key markets.