First Solar, Inc. (NASDAQ:FSLR) late Tuesday [Feb 21, 2017 | 4:08pm ] posted much better than expected fourth quarter earnings results and offered a solid 2017 outlook.

Written by StockNews.com

The Tempe, AZ-based solar panel maker reported Q4 EPS of $1.24, which was a full $0.26 better than the Wall Street consensus estimate of $0.98.

Revenues fell 49% from last year to $480.43 million, also easily topping analysts’ view for $394.65 million.

Looking ahead, FSLR forecast in-line 2017 earnings. It expects EPS Of $0.00 to $0.50, while Wall Street is looking for $0.38. First Solar also sees 2017 revenues ranging from $2.8 billion to $2.9 billion, well ahead of analysts’ $2.53 billion estimate.

Additionally, FSLR expects full-year gross margins between 11% to 13%, down from a prior outlook of 12.4% to 14.5%. The company also cut its operating cash flow forecast to a range of $250 to $350 million, compared with a previous estimate of $550 to $650 million.

First Solar was an early beneficiary of the first big solar wave. Its shares once topped $300 back in 2008, but lost well over 90% of their value by 2012 amid a difficult industry landscape.

...Year-to-date, FSLR had gained 14.12% prior to today’s report, versus a 5.78% rise in the benchmark S&P 500 index during the same period.

FSLR currently has a StockNews.com POWR Rating of D (Sell), and is ranked #4 of 15 stocks in the Solar category.