First Solar Lowers Sales and Profit Forecasts Citing Tariff Impact

Published 2 hours agoFSLR

First Solar Lowers Sales and Profit Forecasts Citing Tariff Impact

First Solar has announced significant downgrades to its annual sales and profit forecasts, attributing the revisions to challenging economic conditions created by recent U.S. tariffs and a drop in residential demand. The solar company now projects 2025 net sales to range between $4.5 billion and $5.5 billion, down from a previous estimate of $5.3 billion to $5.8 billion. Similarly, earnings per share are expected to come in between $12.50 and $17.50, revised from an earlier forecast of $17.00 to $20.00, according to Reuters.

The U.S. Commerce Department's decision to impose new tariffs on solar cells imported from Southeast Asia has significantly impacted First Solar. These tariffs, which vary based on the company and country, aim to tackle concerns about unfair trade practices affecting the domestic solar industry. The imposition has added pressure to First Solar, exacerbated by falling demand in the U.S. residential sector due to high interest rates and changes in California's metering policies.

Despite these hurdles, First Solar's CEO Mark Widmar remains hopeful about the broader prospects for solar energy in the U.S., suggesting there may be a recovery as markets stabilize over time. While the immediate outlook has seen adjustments, the long-term demand for solar could still provide opportunities for growth.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Etsy Surpasses Revenue Estimates Despite Challenges

Etsy Surpasses Revenue Estimates Despite Challenges

13 minutes agoETSY

Etsy recently reported a 1% increase in first-quarter revenue, reaching $651.2 million and exceeding Wall Street expectations of $642.7 million. This growth was bolstered by steady consumer demand for gifts, handcrafted items, and apparel, particularly through its resale platform, Depop. Reuters noted that this uptick occurred even as the overall retail landscape faces external economic challenges. Despite the positive revenue figures, Etsy saw a dip in Gross Merchandise Sales (GMS), reporting $2.79 billion for the quarter, compared to $2.99 billion the previous year. The company expects a similar or slightly lessened decline in GMS in the upcoming quarter. Etsy also disclosed a net loss of $52.1 million, attributed mainly to a $101.7 million impairment charge connected to the anticipated sale of its musical instrument marketplace, Reverb. This marks a significant shift from a net profit of $63 million in the same period last year. In response to these mixed results, Etsy's shares rose nearly 1% in premarket trading, indicating investor confidence in its strategic direction. Despite broader industry concerns over tariffs imposed by President Trump, Etsy has managed to avoid significant impacts due to its focus on locally sourced or European products. The company, however, remains watchful of any new tariffs on EU goods, as it continues to adapt to the fluctuating economic environment.

Caterpillar Misses Q1 Forecasts Amid Tariff Concerns

Caterpillar Misses Q1 Forecasts Amid Tariff Concerns

43 minutes agoCAT

Caterpillar Inc. recently announced its first-quarter financial results, revealing a decline in revenue to $14.25 billion, which fell short of analyst expectations of $14.54 billion and a decrease from $15.8 billion during the same period last year. The company's adjusted earnings per share also came in slightly under predictions, at $4.25 compared to the anticipated $4.30, as reported by AP News. The construction and equipment manufacturing giant is also bracing for potential impacts from tariffs, warning these could raise second-quarter costs by as much as $350 million, further straining its financial standing. Despite these challenges, Caterpillar's order backlog has expanded significantly, reaching approximately $23 billion, marking a 62.6% increase year-over-year, according to Seeking Alpha. Amid these financial fluctuations and tariff-related pressures, Caterpillar is undergoing a leadership transition. Current CEO D. James Umpleby III will take on the role of executive chairman on May 1, while COO Joseph Creed will assume the CEO position and join the board. These changes come as the company contends with higher material costs and lingering supply chain issues, which continue to test its operational strategies.

Wells Fargo Downgrades Nike, Citing Weaker Demand

Wells Fargo Downgrades Nike, Citing Weaker Demand

58 minutes agoNKE

Wells Fargo has recently lowered its price target for Nike's stock to $92 from $95, due to concerns over lower-than-expected demand and dwindling direct-to-consumer (DTC) sales. The brokerage highlighted Nike's struggles in reviving demand, particularly noticing a sharp 24% year-over-year decline in DTC sales for the second quarter. Sluggish sales of popular products like Air Jordan 1 and Air Force 1 were particularly noted as contributing factors. In addition to the price target adjustment, Wells Fargo has revised its earnings per share (EPS) estimate for Nike for fiscal year 2024 down to $2.50, which is notably below the consensus estimate of $2.71. This highlights the broader challenges Nike faces in revitalizing its brand and sales. Further signs of this include decreased brand engagement on social media platforms, with mentions down by 13% on Instagram and 37% on TikTok. Wells Fargo's outlook indicates that Nike's inventory reset strategy might prolong until 2025, which could delay the company's recovery. Despite this, the bank has maintained its "overweight" rating for Nike, reflecting confidence in the company's long-term potential. As reported by Investing.com, while the current conditions are less favorable, Wells Fargo believes strategic changes might eventually support Nike's rebound.

Church & Dwight Increases Quarterly Dividend by 4%

Church & Dwight Increases Quarterly Dividend by 4%

Church & Dwight Co., Inc. (NYSE: CHD) announced a 4% increase in its quarterly dividend, raising it to $0.295 per share from the previous $0.28375. This adjustment raises the annualized dividend to $1.18 per share and reflects the company's ongoing commitment to returning value to shareholders. The dividend will be paid on March 3, 2025, to shareholders recorded by February 14, 2025, with an ex-dividend date set for February 13, 2025. This marks the 29th consecutive year that Church & Dwight has increased its dividend, demonstrating a steady track record of shareholder returns. The historical average of annual dividend increases over the past three years has been around 4.0%. The dividend yield currently stands at approximately 1.1%. According to marketbeat.com, these consistent increments highlight the company's resilient dividend strategy. As of April 30, 2025, Church & Dwight's stock is priced at $98.17 per share, reflecting a minor decrease of $0.01 from the previous close. The stock opened at $99.99 and reached an intraday high of $100.01, with a trading volume reaching 135,997 shares. Such movements are part of the company's typical trading range as it continues to focus on delivering substantial shareholder value through its steady financial strategies.