First Solar, others likely impacted by ILA strike, says KeyBanc

KeyBanc analyst Sophie Karp notes that the International Longshoremen’s Association, or ILA, has begun striking following the expiration of its six-year contract on September 30. With billions of dollars’ worth of imports being handled by these ports, the impact of the strike on the U.S. economy could be up to $5B a day. The firm warns that First Solar (FSLR) is the top importer at the Port of Houston and is most likely to be affected by the strike. Should the strike continue for an extended period of time, KeyBanc expects other companies in the solar value chain to be affected as well. The firm notes that other companies that use contract manufacturers like Enphase (EPNH), SolarEdge (SEDG), Nextracker (NXT), and Array Technologies (ARRY) are likely to have some exposure through their supply chain as well.