Shares of $FSLR Are About to Be Eliminated from the Field of Play; Company Issues Harrowing Warning

The solar trade has been dead, ever since it reanimated itself several years ago. Typical of a market playing stupid with its participants, the solar trade has often been regarded as a litmus test for mental acuity and stability in this wide wacky world. It should come as no surprise to anyone out there, following TSLA’s desperate bid to preserve the net worth of Elon Musk by bailing out SCTY, the industry is currently in the grips of harrowing decline

BEHOLD horrible guidance out of FSLR.

Net Sales in the range of $2.5-2.6 bln , Capital IQ consensus $2.966 bln
Gross Margins between 12.4-14.5%
Operating Expense Non-GAAP $280-300 mln
Operating Income Non-GAAP $40-80 mln
Non-GAAP EPS $0.00-0.50, Capital IQ consensus $1.91
Net Cash Balance $1.4-1.6 bln
Operating Cash Flow $550-650 mln
CapEx $525-625 mln

Shipments 2.4-2.6 GW (Street Expectations were for approx 3.0 GW)
Co announced an acceleration of Series 6 production into 2018, with approximately 3 Gigawatts of production expected in 2019. Over the course of 2017 and 2018 the Company’s existing production facilities will be converted to Series 6 production and the current Series 4 product will be phased out. As a result of the change in roadmap the Company will cancel its Series 5 product.

The Company will reduce its workforce at its manufacturing facilities both domestically and internationally as a result of the transition from Series 4 to Series 6 production. Additional reductions in administrative and other staff are also planned. Resulting from the transition to Series 6 from Series 4 and other competitive factors, the Company expects to incur restructuring and asset impairment charges of $500 to $700 million, which includes a cash impact of $70 to $100 million.

The halt has been raised. The stock has been razed, down by 12% in after hours death knell action.