Following a 22% increase in sales in 2012, First Solar expects that trajectory to continue in 2013.
The leading thin-film and PV project developer guided total module shipments to be between 1.6GW and 1.8GW and net sales of between US$3.8 and US$4.0 billion for the current year. First Solar previously reported net sales for 2012 of US$3.4 billion.
The company said that it expected to generate US$0.8 to US$1.0 billion of operating cash flow in 2013 and planned to allocate between US$350 to US$400 million in capital expenditures this year.
On the back of these projections, and news that the company has acquired start-up TetraSun, which manufacturers copper-based monocrystalline cells, First Solar's shares surged nearly 50% yesterday.
First Solar's positive outlook prompted a widely reported rally of solar companies on European and US stock exchanges, with companies such as Wacker and SMA Solar gaining 6.2 and 8.3% respectively.