First Solar, Inc. announced its fourth-quarter and full-year 2024 financial results, reporting net sales of $4.2 billion for 2024 and $1.5 billion for Q4. The company achieved a net income per diluted share of $12.02 for the full year and $3.65 for the quarter. It ended 2024 with a net cash balance of $1.2 billion, driven by strong module sales and proceeds from the sale of Section 45X tax credits.

For 2025, First Solar provided guidance, forecasting net sales between $5.3 billion and $5.8 billion and earnings per diluted share between $17.00 and $20.00. The company expects to end 2025 with a net cash balance between $0.7 billion and $1.2 billion, with capital expenditures projected at $1.3 billion to $1.5 billion.

CEO Mark Widmar highlighted continued expansion, including the commissioning of the Alabama facility, ongoing construction in Louisiana, and the opening of an R&D center in Ohio. The company’s bookings for 2024 totaled 4.4 GW at an average selling price of 30.5 cents per watt.