Leading cadmium-telluride (CdTe) thin-film producer First Solar has lowered revenue guidance slightly for 2016, while solar module shipments guidance of 2.9GW to 3.0GW remains unchanged.
The company reported record annual net sales of US$3.6 billion for 2015, while its fourth quarter net sales were US$942 million, slightly higher than market expectations.
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However, sales were down US$329 million from the third quarter of 2015, due to Desert Stateline project revenue recognition happening a quarter earlier. In addition, sales of third-party module and module plus offerings also decreased quarter-on-quarter.
“We exit 2015 with record annual revenues, record new bookings and earnings per share of over five dollars,” said Jim Hughes, CEO of First Solar. “As we look back to the 2015 targets first provided to investors at our analyst day nearly three years ago, we recognise that we have achieved the efficiency, cost per watt and earnings targets outlined at that time. We enter 2016 with tremendous technology, a strong pipeline and an ongoing commitment to achieve the long-term objectives we have communicated to our investors.”
Module production in 2015 reached 2.51GW, peaking in the fourth quarter at 761.MW and 100% utilisation rates.
Module shipments guidance in 2016 of 2.9GW to 3.0GW is inline with expected capacity.
Total module shipments reached the high end of guidance at 2.9GW in 2015. The shipments figure confirms First Solar as the sixth largest module manufacturer by shipments in 2015, according to PV Tech's Top 10 rankings issued in January 2016 from company guidance.