Panel Manufacturer First Solar Reports Strong Earnings on U.S. Solar Buildout

May 3, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Solar panel manufacturer First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) is reaping the rewards of a strong U.S. solar sector, reporting net income of $236.6 million for the first three months of this year, compared with $42.5 million in the corresponding quarter of last year. While the company's products continue to be used in hundreds of solar power projects throughout the U.S., legislation such as 2022's Inflation Reduction Act has prompted First Solar to build out its U.S.-based manufacturing footprint. In a conference call earlier this week, Chief Executive Officer (CEO) Mark Widmar discussed the strength of the U.S. solar sector while warning about complacency in regard to imports of solar panels to the U.S.

Other companies featured: TotalEnergies SE (NYSE:TTE)