Solar stock #3: First Solar (FSLR)

Posted Aug 16th 2009 9:00AM by Tobin Smith
Filed under: Stocks to Buy, Green Stocks

solar stocks Also reporting after the close on July 30 was Arizona-based First Solar Inc. (NASDAQ: FSLR). Now these guys had a blowout quarter!

The company reported net income more than doubled in the second quarter, easily beating consensus Street estimates. In Q2, net income was $180.6 million, or $2.11 per share, compared with $69.7 million, or 85 cents per share, a year ago. The word on the Street was for earnings of just $1.65 per share.

Impressively, the company also beat top-line estimates, coming in with Q2 revenue of $525.9 million. Analysts had expected the company to come in with revenue of just $458.1 million.

As you might expect, First Solar shares had the virtual equivalent of a solar flare in after-hours trading following the blowout report, and that's enough for me to think this stock is going to shine going forward.

I like First Solar here, but not as much as I like the next two solar stalwarts.

Next: Solar stock #4

Tags: earnings reports, first solar, FSLR, solar stocks, stocks to buy, tobin smith, top stocks