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First Solar posts Q2 net loss, lower net sales

First Solar Inc. on July 26 reported a second-quarter 2018 GAAP net loss of $48.5 million, or a loss of 46 cents per share, compared to net income of $52.0 million, or 50 cents per share, in the same period in 2017. The S&P Capital IQ consensus GAAP estimate for the quarter was a loss of 1 cent per share.

First Solar's net sales for the quarter totaled $309.3 million, down from $623.3 million in the second quarter of 2017.

The company reported year-to-date net bookings of 4.1 GW, with 900 MW booked since its prior earnings call.

First Solar raised its 2018 net cash balance guidance to a rang of $2.2 billion to $2.4 billion, from $2.0 billion to $2.2 billion, and lowered its capital expenditure guidance to a range of $800 million and $900 million, from $850 million to $950 million.