First Solar Inc Q4 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Brian Lee - Goldman Sachs Group, Inc. - Analyst : I wanted to start off. First question, just on the guidance range. It seems a little wider than usual. I know Mark, Alex, you talked through some of the uncertainties and moving pieces. But how much is really tied? And I'm focused kind of on the shipment and revenue guidance, how much is tied to selling the 1 gigawatt of India volume left over from last year? Maybe walk through how that process is playing out, what ASPs you're expecting to realize. And then second question would be around just safe harbor potential. Are you seeing any of that? What are your customers doing in this uncertain environment where -- is there even potential as you move through the year that you kind of turned output back up from Southeast Asia to allow customers to take advantage of safe harbor, maybe blend? Just curious on your thoughts around if any of that is happening and what you would see as a potential impact if it did later through the year.

Question: Mark Strouse - JPMorgan Chase & Co. - Analyst : I want to go back to the difference between cost per watt produced and sold. The cost per watt produced in the 2025 guide of $0.20, it seems like you're tracking ahead of your Analyst Day expectations from about 1.5 years ago or so. Just trying to think about -- I think at the Analyst Day, you laid out 2026 targets as well. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 25, 2025 / 9:30PM, FSLR.OQ - Q4 2024 First Solar Inc Earnings Call Just kind of how to think about that following this year if you think you're still on track to outperform that number. And then the cost per watt sold, the extra $0.04, a lot of that, in my opinion, seems to be fairly transitory. Looking out to 2026, not looking for formal guidance, but do you think 2026 cost per watt produced and cost per watt sold look close?