Shares of First Solar (FSLR) fell 8.9% in Friday's trading session. The manufacturer of solar modules reported a disappointing set of third quarter results. Investors are disappointed by lower third quarter revenues, and a lower outlook for full year operating cash flows.
Third Quarter Results
First Solar reported third quarter revenues of $839.1 million, down 17% on the year. Lower revenues were primarily the result of the completion of the Silver State North project during the second quarter and lower construction activity at Ague Caliente. Revenues missed analysts consensus of $966.5 million.
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