Could you comment on Real & First Solar earnings.
Thank you very much.
For REAL: EPS of $0.013 beat estimates of ($0.007) and revenues of $16.039M beat estimates of $14.961M. The company posted positive Adjusted EBITDA of $1.7M and improved its net revenue margins. This marked the first sequential growth in revenues in seven quarters, it announced new channels and clients across Canada and in its US Appraisal and US Title segments, and while one quarter does not make a trend, it could mark the beginning of a reversal in the company's operations. It is trading at a cheap valuation and has been repurchasing a lot of its shares. If the trend of margin expansion and sequential revenue growth continues, we feel this could cause the price to appreciate. Overall, an encouraging quarter for REAL.
FSLR reported EPS of $1.59 beating estimates of $1.0 and revenues of $811M beat estimates of $722.21M. Sales increased significantly by $262M to reach $811M. The company noted strength in its commercial, operational, and financial foundations in 2023 and it has ramped up production and delivery of its next-generation Series 7 modules, driving growth. Management reiterated sales guidance at $3.4B to $3.6B, increased its cash balance, lowered its expectations for CAPEX, but increased its operating expenses estimates. These were pretty good results and the market was overall pleased with the earnings release.
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