- Revenue: $0.8B, -36% YoY
- Net income: $209.5M, -11% YoY
- Net bookings: 0.7GW, +0.1GW YoY
CEO Mark Widmar: "Despite new tariff challenges, long-term U.S. solar demand remains strong."
🌱Revenue & Growth
- Net sales: $0.8B, -36% YoY
- Volume sold: Not specified for Q1, -10% YoY expected for FY2025
- Average selling price: 30.5 cents/watt, +5% YoY
- Sales backlog: 66.3GW, +10% YoY
💰Profits & Health
- Gross profit: Not specified, -40% YoY expected for FY2025
- Net income per diluted share: $1.95, -11% YoY
- Gross cash balance: $0.9B, -47% YoY
- Net cash balance: $0.4B, -71% YoY
- Operating income: Not specified, -25% YoY expected for FY2025
📌Business Highlights
- Secured 0.6GW bookings since Q4 2024
- Invested in new manufacturing facility
- Increased inventories for H2 2025 commitments
- Benefiting from Section 45X tax credits
- Maintained vertically integrated U.S. production
🔮Future Outlook
- Net sales guidance: $4.5B-$5.5B, -13% from prior
- Volume sold guidance: 15.5GW-19.3GW, -10% from prior
- Earnings per diluted share: $12.50-$17.50, -18% from prior
- Capital expenditures: $1.0B-$1.5B, -14% from prior
- Section 45X tax credits: $1.65B-$1.7B, +3% from prior