First Solar, Inc. · NASDAQ:FSLR
First Solar — Q1 2020 Earnings Presentation
13 slides from First Solar's earnings presentation, May 8, 2020
Slide 1: First Solar Q1'20 Earnings Call
FIRST SOLAR Q1’20 EARNINGS CALL
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 hi
Slide 3: First Solar's Response to COVID-19
FIRST SOLAR’S RESPONSE TO COVID-19 Strive to protect the well-being of our associates, customers, and partners Safety is the #1 Priority Ensure that our technology is safely manufactured and delivered to our customers Majority of our office-based associates are working from home Stringent he
Slide 4: Business Model Philosophy
BUSINESS MODEL PHILOSOPHY Differentiation Execution Competitively advantaged CdTe Disciplined Vertically integrated manufacturing Data-driven Industry-leading balance sheet CREATING Agile SHAREHOLDER Sustainability ideology Collaborative VALUE Accountable Balanced Model 7 May 2020 © Copyright First
Slide 5: Business and Operations Update
BUSINESS AND OPERATIONS UPDATE Module Segment Systems Segment Series 6 manufacturing in Ohio, Malaysia, and Vietnam Evaluating potential to utilize virtual meetings to satisfy has continued throughout the COVID-19 pandemic local permitting requirements Ohio 2 operated at approximately 75% capa
Slide 6: Select COVID-19 Dynamics Impacting Outlook
SELECT COVID-19 DYNAMICS IMPACTING OUTLOOK Reasons for Optimism Risks Economic catalysts for driving increased o Economic disruption and impact on near utility-scale solar penetration continue to term utility-scale solar demand grow o Continued competition across the crystalline Series 6 capacit
Slide 7: Expected Module Shipments (GWDC): Systems + Third-Party Module
EXPECTED MODULE SHIPMENTS(1) (GWDC): SYSTEMS + THIRD-PARTY MODULE 11.7 GW 0.8 GW 12.3 GW 1.0 GW (1.2) GW (2) (1.3) GW (2) Dec 31, 2019 YTD Shipments as YTD Bookings as QTD Bookings May 7, 2020(5)(5) of Mar 31, 2020 of Mar 31, 2020(3) (3) Q2’20(4) (4) The above table presents the actual module shipme
Slide 8: Summary Performance Metrics
SUMMARY PERFORMANCE METRICS 7.5 GW mid-to-late stage opportunity pipeline Pipeline Includes 6.3 GW of potential third-party modules sales and 1.2 GW of potential systems volume 5.2 GW in the North America, 1.6 GW in Europe, and 0.7 GW in other geographies Over 100% fleet wide capacity utiliz
Slide 9: Income Statement Highlights
INCOME STATEMENT HIGHLIGHTS (In millions, except per share amounts) Q1 2020A Q4 2019A Q1 2019A QoQ Change YoY Change Net sales $532 $1,399 $532 ($867) $0 Gross profit % 17.0% 23.8% 0.0% (6.9%) 17.0% Selling, general and administrative 59 56 45 3 13 Research and development 26 25 22 0 4 Production st
Slide 10: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS (In millions) Q1 2020A Q4 2019A Q1 2019A QoQ Change YoY Change Cash and marketable securities(1) $1,598 $2,258 $2,310 (660) (712) Accounts receivable(2) 411 659 669 (247) (257) Inventories (current and noncurrent) 662 604 602 58 60 Balance of systems parts 45 54 60 (9) (15)
Slide 11: 2020 Outlook
2020 OUTLOOK Withdrawal of Previous 2020 Guidance New 2020 Guidance To date, the Company and its financial results have not Providing limited guidance for metrics that we believe been materially impacted by COVID-19 are largely within our control at this time However, we are withdrawing our fu
Slide 12: Summary & Highlights
SUMMARY & HIGHLIGHTS • Continued success adding to contracted pipeline PIPELINE & • 1.1 GW of net-bookings since the previous earnings call brings BOOKINGS: year-to-date total to 1.8 GW • Strong manufacturing performance in light of the current SERIES 6 environment MANUFACTURING • Achieved a fleet-w
Slide 13: First Solar. Leading the World's Sustainable Energy Future
aarp First Solar. LEADING THE WORLD’S SUSTAINABLE ENERGY FUTURE