First Solar lowers annual sales and profit forecast on near-term tariff troubles

First Solar
lowered its annual sales and profit forecast on Tuesday due to near-term tariff-related challenges amid the ongoing
U.S.-China trade war
and tepid residential demand in the United States, sending its shares down 11 per cent in after-hours trading.
U.S.
residential solar demand
has remained weak due to high interest rates and metering reforms in top market California, which have reduced the credits customers receive for feeding excess electricity back into the grid.
Earlier this month, U.S. trade officials finalized steep tariff levels on most solar cells imported from Southeast Asia, after American manufacturers complained that companies from the region were flooding the market with unfairly cheap goods.
Despite additional tariffs on foreign-made products,
module prices
in the United States have not increased as expected because of a surge in solar imports in 2023 has resulted in high inventory levels.
"Despite the near-term challenges presented by the new tariff regime, we believe that the long-term outlook for solar demand, particularly in our core U.S. market, remains strong, and that First Solar remains well-positioned to serve this demand," said CEO Mark Widmar.
The company expects current-year net sales to be between $4.5 billion and $5.5 billion, compared to its previous projection of $5.3 billion to $5.8 billion.
The solar company forecast 2025 earnings in the range of $12.50 per share to $17.50 per share, compared with its earlier forecast of a profit between $17.00 per share and $20.00 per share.
The company reported a net income of $209.5 million for the quarter ended March 31, down about 11.4 per cent from last year.
First Solar reported net sales of $844.6 million for the first quarter, marking an increase of 6.4 per cent compared to the same period last year.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

New Indian Express

2 hours ago

• New Indian Express

US strikes on Iran mark a dangerous turning point for the region and the world: Here's why

NEW DELHI: The American airstrikes targeting Natanz, Isfahan, and the fortified Fordow facility in Iran represent a dramatic escalation in the region's tensions. This could reshape the geopolitical landscape of West Asia, with wide-ranging consequences for diplomacy, regional stability, global oil markets, and India's energy security. What Are Iran's Options Now? Iran has several possible responses, each fraught with risk: Diplomatic De-escalation Iran could return to negotiations, potentially under the framework of the Joint Comprehensive Plan of Action (JCPOA), which the Trump administration previously abandoned. However, this route faces resistance from Iran's hardliners, who view the U.S. strikes as a humiliation and a betrayal of diplomacy. Tehran could also withdraw from the Nuclear Non-Proliferation Treaty (NPT). Closure of the Strait of Hormuz Iran's most potent non-military leverage is the Strait of Hormuz—a narrow maritime chokepoint through which over 20 million barrels of oil and a large volume of liquefied natural gas (LNG) pass daily. Iranian parliament has backed the proposal to close the strait while the final decision is yet to be made by Iran's top security body. The closure of Hormuz could trigger an oil price surge and widespread economic ripple effects. But this move would also harm Iran. Its own oil exports pass through Hormuz, and a closure would likely provoke military responses from Gulf Arab states and lead to further Western sanctions. Still, the threat alone could cause panic in energy markets. Military Counterstrike A more dangerous path is retaliation. Iran's military and political leadership have warned of striking U.S. military bases and naval assets in the region. Hossein Shariatmadari, editor of the hardline Kayhan newspaper, stated ominously: 'It is now our turn.' Iran possesses short-range ballistic missiles, drones, and naval assets that could be used in asymmetric attacks. The U.S., anticipating a reaction, has dispersed its forces and bolstered regional air defenses.

NDTV

2 hours ago

• NDTV

Bahrain And Kuwait Prepare For Spillover As US-Iran Conflict Escalates

Dubai: Bahrain and Kuwait, home to US bases, made preparations on Sunday for the possibility the Iran conflict might spread to their territory, with Bahrain urging drivers to avoid main roads and Kuwait establishing shelters in a ministries complex after US strikes on Iran's nuclear facilities. US forces struck Iran's three main nuclear sites late on Saturday, and President Donald Trump warned Tehran it would face more devastating attacks if it does not agree to peace. Tehran had previously warned if it was attacked by the United States, it could target American assets in the region, including US military bases. Bahrain is home to the headquarters of the US Navy's 5th Fleet and there are several US bases in Kuwait. "In light of recent developments in the regional security situation, we urge citizens and residents to use main roads only when necessary, to maintain public safety and to allow the relevant authorities to use the roads efficiently," Bahrain's interior ministry said in a post on X. Bahrain also told 70% of government employees to work from home on Sunday until further notice, citing escalating tensions, according the Civil Service Bureau. Kuwait set up shelters in the country's ministries complex, an extensive compound of buildings that houses several government departments, including the ministries of justice and finance, the finance ministry said. Bahraini authorities earlier this week said they had activated a national plan and a national civil emergency centre to prepare in case of emergencies and proceeded to test warning sirens across the country. Regional media also reported the country had set up 33 shelters.

First Post

2 hours ago

• First Post

Iran's top security council mulls closing Strait of Hormuz after US strikes on nuclear sites

The Strait of Hormuz, which lies between Iran and its Gulf Arab neighbors, is one of the world's most critical energy chokepoints. Around 20% of the global oil and gas supply including shipments from Saudi Arabia, Iraq, the UAE, Qatar, and Iran transits this narrow channel daily read more Iran foreign minister Abbas Araghchi, bows his head after a press conference at the Lutfi Kırdar Congress Center on the sideline of the 51st session of the Council of Foreign Ministers of the Organization of Islamic Cooperation (OIC), in Istanbul on June 22, 2025. - Image- AFP Iran's Supreme National Security Council will decide whether to shut down the crucial Strait of Hormuz, state broadcaster Press TV reported Sunday, after the Iranian parliament voted in favour of the measure amid rising tensions with the United States and Israel. The move follows recent US airstrikes on Iran's nuclear facilities including the fortified Fordow enrichment site. While no final decision has been made, closing the strait is now under serious consideration as the regional conflict intensifies. STORY CONTINUES BELOW THIS AD Iran's parliament has approved a measure to close the strategically vital Strait of Hormuz, a key global oil shipping route, following US strikes on Iran's nuclear sites, state-run Press TV reported on Sunday. Major General Kowsari, a member of the parliament's National Security… — Iran International English (@IranIntl_En) June 22, 2025 If carried out, such a step could severely disrupt global energy flows. Nearly one-fifth of the world's oil and gas passes through the narrow Strait of Hormuz daily, linking producers like Saudi Arabia, the UAE, Iraq, Qatar and Iran to global markets. The waterway, only 33 kilometres wide at its narrowest point with shipping lanes barely 3 kilometres across in each direction, is considered one of the world's most sensitive maritime choke points. The closure threat highlights the potential for a wider economic fallout from the escalating hostilities in West Asia. 'We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan,' US President Trump said in a post on his Truth Social platform. 'A full payload of BOMBS was dropped on the primary site, Fordow.' Trump added that 'all planes are safely on their way home. Congratulations to our great American Warriors.' Trump's announcement came just two days after he said he would decide 'within two weeks' whether to join key ally Israel in attacking Iran. STORY CONTINUES BELOW THIS AD Earlier on Saturday there were reports that US B-2 bombers – which carry so-called 'bunker buster' bombs – were headed out of the United States. Trump did not say what kind of US planes or munitions were involved. Tehran had threatened reprisals on US forces in the Middle East if Trump attacked but the US president called for 'peace.' 'There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE!' he said. With inputs from agencies