FIRST SOLAR INC
For the period ended Jun 30, 2024. Filed Jul 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 30, 2024
FSLR$191.61-4.7%Stored close · as of Nov 9, 2026
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Condensed Consolidated Statements of Operations for the three and six months ended June 30,2024 and 2023
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net sales | $1,010,482 | $810,673 | $1,804,590 | $1,358,959 |
| Cost of sales | 511,593 | 500,253 | 959,698 | 936,488 |
| Gross profit | 498,889 | 310,420 | 844,892 | 422,471 |
| Operating expenses: | ||||
| Selling, general and administrative | 46,560 | 46,328 | 92,387 | 90,356 |
| Research and development | 51,937 | 36,745 | 94,679 | 67,255 |
| Production start-up | 27,451 | 23,377 | 42,859 | 42,871 |
| Litigation loss | 430 | 35,590 | 430 | 35,590 |
| Total operating expenses | 126,378 | 142,040 | 230,355 | 236,072 |
| Gain on sales of businesses, net | — | 135 | 1,115 | 118 |
| Operating income | 372,511 | 168,515 | 615,652 | 186,517 |
| Foreign currency loss, net | (9,649) | (4,652) | (12,507) | (10,599) |
| Interest income | 24,599 | 25,026 | 51,844 | 50,848 |
| Interest expense, net | (9,765) | (1,415) | (18,975) | (2,163) |
| Other (expense) income, net | (565) | 997 | (3,364) | (459) |
| Income before taxes | 377,131 | 188,471 | 632,650 | 224,144 |
| Income tax expense | (27,775) | (17,892) | (46,678) | (11,004) |
| Net income | $349,356 | $170,579 | $585,972 | $213,140 |
| Net income per share: | ||||
| Basic | $3.26 | $1.60 | $5.48 | $2.00 |
| Diluted | $3.25 | $1.59 | $5.45 | $1.99 |
| Weighted-average number of shares used in per share calculations: | ||||
| Basic | 107,042 | 106,827 | 107,011 | 106,791 |
| Diluted | 107,525 | 107,278 | 107,502 | 107,256 |
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