First Solar, Inc. (FSLR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and thank you for joining us on today's earnings call. Joining me today are our Chief Executive Officer Mark Whitmar, now Chief Financial Officer Alex Bradley. During this call, we will review our financial performance for the quarter and discuss our business outlook for 2025. Following our remarks, we will open the call for questions. Before we begin, Please note that some statements made today are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from management's current expectations. We undertake no obligation to update these statements due to new information or future events. For discussion of factors that could cause these results to differ materially, please refer to today's earnings press release and our most recent annual report on Form 10-K, as supplemented by our other filings with the SEC, including our most recent Form 10-Q. You can find these documents on our website at investa.fursolar.com. With that, I'm pleased to turn the call over to our CEO, Mark Widmeier. Mark? Good afternoon, and thank you for joining us today. Beginning on slide three, I will share some key highlights from Q1 2025. From a commercial perspective, since the previous earnings call, we have secured net bookings of 0.6 gigawatts at a base ASP of 30.5 cents per watt, excluding adjusters and India domestic sales. As a result, our contracted backlog today stands at 66.3 gigawatts. In Q1, we recorded 2.9 gigawatts of module sales, which is in line with what we forecasted on the previous earnings call. Our Q1 earnings per diluted share came in below the low end of our guidance range at $1.95 per share, primarily due to a greater portion of our Q1 sales being forecast to be an international versus U.S. product. Alex wil...