First Solar, Inc. · NASDAQ:FSLR
First Solar — Q2 2020 Earnings Presentation
13 slides from First Solar's earnings presentation, Aug 6, 2020
Slide 1: First Solar Q2'20 Earnings Call
FIRST SOLAR Q2’20 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: Module Segment Update
MODULE SEGMENT UPDATE 3.5 GW of year-to-date production, including 3.3 GW of Series 6 Fleet-wide Over 100% fleet-wide capacity utilization during May, June, and July Performance Metrics 15.9 MWs produced per day and 96.4% manufacturing yield during July 435 average watts per module and 98% A
Slide 4: Systems Segment Update
SYSTEMS SEGMENT UPDATE Systems Sales Completed the sale of the 123MWac American Kings project during the second quarter U.S. Project Development Launched strategic process in June Business Original entrance into O&M was an extension of utility-scale solar development and EPC capabilities Wit
Slide 5: Expected Module Shipments (GWDC): Systems + Third-Party Module
EXPECTED MODULE SHIPMENTS(1) (GWDC): SYSTEMS + THIRD-PARTY MODULE 11.7 GW 0.5 GW 11.9 GW 2.1 GW (2.4) GW (2) (2.5) GW (2) Dec 31, 2019 YTD Shipments as YTD Bookings as QTD Bookings Aug 6, 2020(5)(5) of Jun 30, 2020 of Jun 30, 2020(3) (3) Q3’20(4) (4) The above table presents the actual module shipme
Slide 6: Potential Booking Opportunities: By Geography
POTENTIAL BOOKING OPPORTUNITIES: BY GEOGRAPHY 7.8 GWDC Opportunity Other Mid-to-Late Stage Only Europe North America 6 August 2020 © Copyright First Solar, Inc. Module: 7.3 GW Systems: 0.5 GW 6
Slide 7: Manufacturing, Cost and Technology Outlook
MANUFACTURING, COST AND TECHNOLOGY OUTLOOK Only American company and only alternative to c-Si technology among the 10 largest solar module manufacturers globally – reduces over-reliance on imported and government subsidized modules from China Manufacturing Incremental capacity expansion may furt
Slide 8: Executive Leadership Update
EXECUTIVE LEADERSHIP UPDATE Markus Gloeckler has been appointed Co-Chief Technology Officer alongside Raffi Garabedian, our CTO since 2012, and will join First Solar’s executive leadership team Markus will drive our Series 6 platform, device, and efficiency improvement roadmap. This will enable
Slide 9: Quarterly Income Statement Highlights
QUARTERLY INCOME STATEMENT HIGHLIGHTS (In millions, except per share amounts) Q2 2020A Q1 2020A Q2 2019A QoQ Change YoY Change Net sales $642 $532 $585 $110 $57 Gross profit % 21.4% 17.0% 13.2% 4.4% 8.2% Selling, general and administrative 52 59 51 (7) 1 Research and development 22 26 24 (3) (2) Pro
Slide 10: Quarterly Balance Sheet Highlights
QUARTERLY BALANCE SHEET HIGHLIGHTS (In millions) Q2 2020A Q1 2020A Q2 2019A QoQ Change YoY Change Cash and marketable securities(1) $1,642 $1,598 $2,141 44 (499) Accounts receivable(2) 352 411 397 (60) (46) Inventories (current and noncurrent) 703 662 736 41 (33) Balance of systems parts 35 45 92 (1
Slide 11: 2020 Outlook
2020 OUTLOOK Guidance Rationale Current 2020 Guidance Previously withdrew full-year 2020 guidance given the Full year production of 5.9 GW is unchanged, which significant uncertainties regarding COVID-19 includes 0.2 GW of Series 4, and 5.7 GW of Series 6 The number, intensity, and trajectory
Slide 12: Summary & Highlights
SUMMARY & HIGHLIGHTS Q2 2020 EPS of $0.35 per share $ • FINANCIAL • $1.2 billion net-cash(1) position • Strong manufacturing performance SERIES 6 • Fleet-wide capacity utilization over 100% during May, June, and July MANUFACTURING • Achieved our mid-term cost-per-watt target of a 40% reduction below
Slide 13: First Solar. Leading the World's Sustainable Energy Future
aarp First Solar. LEADING THE WORLD’S SUSTAINABLE ENERGY FUTURE