First Solar missed earnings per share expectations in its latest report. The company surpassed revenue forecasts during the same period. Management reported a shrinking contracted backlog and recent order cancellations. A new U.S. solar cell finishing facility will target lower import costs and domestic incentives.
The stock price declined by more than 27% over the last 90 days. Analysts remain divided on the company's current valuation. One perspective labels the stock overvalued due to the earnings miss and backlog issues. Another view suggests the stock trades below fair value based on intrinsic discount estimates.