First Solar sees FY23 EPS $7.00-$8.00, consensus $4.77

Sees FY23 revenue $3.4B-$3.6B, consensus $3.34B. The company said, "Forecasted net sales for 2023 are $3.4 billion to $3.6 billion. Operating income is forecasted to be $745 million to $870 million, which includes production start-up expense of $85 million to $90 million, ramp costs related to expansion projects and underutilization costs related to factory upgrades of $110 million to $130 million, and Inflation Reduction Act Section 45X tax credits of $660 million to $710 million. Forecasted net income per diluted share is $7.00 to $8.00. The year-end 2023 net cash balance is projected to be in the range of $1.2 billion to $1.5 billion."