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First Solar (FSLR) reported third-quarter results late Thursday that fell short on earnings and revenue. FSLR stock fell on the news.
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The solar energy company reported an adjusted loss of 46 cents a share on revenue of $629 million. Analysts expected First Solar to report a loss of 23 cents a share on revenue of $742 million.
FSLR stock dropped 5.8% to 123.50 during after-hours trading on the stock market today.
The company expects year-end revenue in the range of $2.6 billion to $2.7 billion. The midpoint of $2.65 billion is above expectations of $2.6 billion.
The company specializes in high-efficiency thin-film solar panels used mainly in utility-scale and some commercial installations.
FSLR stock is up 47% this year.
“Our focus continues to be on setting the stage for long-term growth, and from this point of view, 2022 has so far proven to be foundational,” Chief Executive Mark Widmar said in a written statement with the FSLR stock earnings release.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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Image and article originally from www.investors.com. Read the original article here.