First Solar, Inc. · NASDAQ:FSLR
First Solar — Q3 2021 Earnings Presentation
12 slides from First Solar's earnings presentation, Nov 4, 2021
Slide 1: First Solar Q3'21 Earnings Call
First Solar Q3’21 Earnings Call November 4, 2021
Slide 2: Important Information
| Important Information Cautionary Note Regarding Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this presentation, other than statements of
Slide 3: Third Quarter 2021 Highlights
| Third Quarter 2021 Highlights ● Manufacturing ■ Q3’21 production of 2.0 GW despite challenging freight and COVID-19 environment in Vietnam and Malaysia ■ Increased top production bin to 465 watts ■ Started construction and purchased equipment for our next-generation factories in Ohio and India, re
Slide 4: Expansion Update | United States and India
| Expansion Update | United States and India Ground Breaking Ceremony in Ohio(1) Washington D.C. Meeting(2) © 2021 Copyright First Solar, Inc. (1) Pictured (L-R) are Rudolph Libbe CEO, Tim Alter; US Representative Marcy Kaptur (OH-09); the Lieutenant Governor of Ohio, Jon Husted; First Solar CEO, Ma
Slide 5: Module Segment Update
| Module Segment Update Maintained capacity utilization over 100%(1) despite the challenging COVID-19 environment in South East Asia Travel and other COVID-19 restrictions have added constraints on getting third party equipment installers, as well COVID-19 Update as our U.S. based associates int
Slide 6: Expected Module Shipments (GWDC)
| Expected Module Shipments(1) (GWDC): Systems + Third-Party Module 16.5 GW 0.7 GW 11.8 GW 9.8 GW (5.8) GW(2) Dec 31, 2020 YTD Shipments as of YTD Net-Bookings as QTD Net-Bookings Nov 4, 2021(5) Sept 30, 2021 of Sept 30, 2021(3) Q4’21(4) The above table presents the actual module shipments for 2021
Slide 7: Potential Booking Opportunities: By Geography
| Potential Booking Opportunities: By Geography Total bookings opportunities Mid-to-Late stage opportunities 0.9 0.8 0.4 0.9 1.6 17.6 25.6 18.5 © 2021 Copyright First Solar, Inc. 0.3 GWDC of opportunities confirmed, but not booked 44.9 GWDC Opportunity 21.4 GWDC Opportunity 7
Slide 8: Quarterly Income Statement Highlights
| Quarterly Income Statement Highlights (In millions, except per share amounts)(1) Q3 2021A Q2 2021A Q3 2020A QoQ Change YoY Change Net sales $584 $629 $928 ($46) ($344) Gross profit % 21.4% 27.7% 31.6% (6.3%) (10.2%) Selling, general and administrative 43 36 50 7 (7) Research and development 25 24
Slide 9: Quarterly Balance Sheet Highlights
| Quarterly Balance Sheet Highlights (In millions)(1) Q3 2021A Q2 2021A Q3 2020A QoQ Change YoY Change Cash and marketable securities(2) $1,940 $2,052 $1,671 (111) 270 Accounts receivable(3) 273 598 307 (324) (34) Inventories (current and noncurrent) 884 830 765 54 119 Property, plant and equipment,
Slide 10: 2021 Guidance as of November 4, 2021
| 2021 Guidance as of November 4, 2021 Prior Current Net Sales $2.875B to $3.1B Unchanged Gross Margin ($)(1) $695M to $760M Unchanged Operating Expenses(2) $285M to $300M Unchanged Operating Income(3,4) $545M to $625M Unchanged Earnings Per Share $4.00 to $4.60 Unchanged Net Cash Balance(5) $1.35B
Slide 11: Summary & Highlights
| Summary & Highlights Year-to-date diluted EPS of $3.16 per share Financial Reiterate 2021 EPS guidance of $4.00 to $4.60 per share Q3’21 net cash(1) of $1.7 billion Q3’21 production of 2.0 GW despite challenging freight and COVID-19 environment in Vietnam and Malaysia Manufacturing Incre
Slide 12: Copyright and trademarks
© 2021 Copyright First Solar, Inc. First Solar, the First Solar logo, and Leading the World’s Sustainable Energy Future are trademarks of First Solar, Inc., registered in the U.S. and other countries. Series 6, Series 6 Plus, CuRe, Series 6 CuRe, and the Series 6 CuRe logo are trademarks of First So