First Solar Issues Guidance; To Review Options For U.S. Project Development Unit
First Solar, Inc. (FSLR) said, for 2020, the company projects earnings per share to be between $3.25 and $3.75, inclusive of ramp costs, start-up expenses, Series 4 shutdown costs, and other severance costs of approximately $95 million. Net sales for 2020 are anticipated to be $2.7 to $2.9 billion, with third party module net sales expected to comprise approximately 70% of the total net sales. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.56 on revenue of $3.37 billion. Analysts’ estimates typically exclude special items. The 2020 ending net cash balance is expected to be in the range of $1.3 to $1.5 billion.
First Solar also announced that it is reviewing options for its U.S. project development business.
Shares of First Solar, Inc. were down 15% after hours.
Rogers Slips To Loss In Q4
Rogers Corp. (ROG) reported that its net loss for the fourth quarter 2019 was $28.8 million or $1.55 per share, compared to net income of $24.5 million or $1.31 per share in the fourth quarter of 2018.
The fourth quarter 2019 net loss was inclusive of a $43.9 million, or $2.35 per share, non-cash after-tax pension settlement charge.
On an adjusted basis, earnings were $1.14 per share for the 2019 fourth quarter compared to adjusted earnings of $1.67 per share in the fourth quarter of 2018.
Quarterly net sales were $193.8 million, a 13.1% decrease from $222.9 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report a loss of $1.06 per share and revenues of $204.87 million for the quarter. Analysts’ estimates typically exclude special items.
Rogers guides its 2020 first quarter net sales to a range of $185 to $200 million. The revenue range incorporates a 7% to 10% reduction from the expected impact of the coronavirus outbreak and is wider than normal due to uncertainty related to the evolving situation.
First quarter earnings is expected to be in the range of $0.50 to $0.70 per share and adjusted earnings is expected to be in the range of $0.75 to $0.95 per share.
Wall Street currently is looking for the first-quarter earnings of $1.17 per share on annual revenues of $214.43 million.
Century Aluminum Q4 Loss Narrows
Century Aluminum Co. (CENX) reported that its fourth-quarter net loss narrowed to $4.8 million or $0.05 per share from $65.0 million or $0.74 per share in the prior year.
Fourth quarter results were positively impacted by $4.2 million of exceptional items, including a $3.3 million lower of cost or net realizable value inventory adjustment (net of tax) and a $1.7 million insurance recovery related to the equipment failure at Sebree, partially offset by a $0.7 million unrealized loss on forward derivatives.
In the fourth quarter of 2019, shipments of primary aluminum were 202,870 tonnes compared with 198,543 tonnes shipped in the third quarter of 2019, reflecting the impact of the ongoing Hawesville restart project.
Net sales for the fourth quarter of 2019 were $435.5 million down from $486.9 million in the previous year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.17 per share and revenues of $426.73 million for the quarter. Analysts’ estimates typically exclude special items.
Boyd Gaming Q4 Profit Increases
Boyd Gaming Corp. (BYD) reported net income of $24.3 million or $0.21 per share, for the fourth quarter of 2019, compared to $22.9 million, or $0.20 per share, for the year-ago period.
Quarterly revenues were $833.1 million, up 5.2% from $791.6 million in the fourth quarter of 2018.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share and revenues of $825.64 million for the quarter. Analysts’ estimates typically exclude special items.
For the full year 2020, Boyd Gaming projects total Adjusted EBITDAR of $915 million to $935 million.
BOJ gov sees moderate economic growth, eyes coronavirus impact
TOKYO, Feb 21 (Reuters) – Japan’s economy is likely to continue a moderate recovery as downward pressure seen in the last quarter tapers off, although the new coronavirus outbreak creates uncertainty on the economic outlook, Bank of Japan Governor Haruhiko Kuroda said on Friday.
Uncertainty is high because of the new virus’ impact on Japanese exports, output and inbound tourists from China, Kuroda told the parliament, adding that he was watching the effects with “grave concern”.
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Ehealth Q4 Profit Rises; Sees 2020 Above View
eHealth Inc. (EHTH), a private online health insurance exchange, reported that its net income for the fourth quarter of 2019 increased to $88.8 million or $3.58 per share, from $26.1 million, or $1.25 net income per share, for the fourth quarter of 2018. The increase was driven primarily by eHealth’s share price appreciation.
The share price appreciation has increased the value of the equity-based portion of the earnout consideration owed to the former holders of GoMedigap equity interests.
EHTH closed Thursday regular trading at $129.18, down $3.07 or 2.32 percent. But, in the after hours, the stock gained $24.52 or 18.98%.
Non-GAAP net income for the fourth quarter was $102.5 million, or $4.13 per share, compared to $35.7 million or $1.72 per share last year.
Revenue for the fourth quarter was $301.7 million, a 124% increase from $134.9 million last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $2.43 per share and revenues of $234.87 million for the forth-quarter. Analysts’ estimates typically exclude special items.
For 2020, the company expects net income per share to be in the range of $2.64 to $3.23 per share, non-GAAP net income per share of $3.56 to $4.09, and total revenue of $580.0 million to $620.0 million. Wall Street currently is looking for fiscal year 2020 earnings of $3.01 per share on annual revenues of $546.02 million.