First Solar Org Chart & Sales Intelligence Blog Post

First Solar Logo

First Solar, Inc.

350 West Washington Street
Suite 600
Tempe, AZ 85281
United States
602 414 9300
http://www.firstsolar.com

Ticker Symbol: (NASDAQ: FSLR)
Industry Sector: Technology - Solar
Full Time Employees: 5,100 

LinkedIn: https://www.linkedin.com/company/first-solar/
Twitter: https://twitter.com/FirstSolar
YouTube: https://www.youtube.com/user/firstsolar
Facebook: https://www.facebook.com/FirstSolarInc

First Solar, Inc. 2021 Fortune 500 Rank: #798

 

The First Solar Org Chart Report covers key business units including databahn goes further into the lines of business by charting HR, Finance, IT, Operations and more.

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First Solar Org Chart - Corporate Structure

First Solar Org Chart - Board of Directors

First Solar Org Chart - Executive Leaders

 Download the First Solar Deep-Dive Report to see the full 9 organizational charts. 

 

The First Solar Contact Spreadsheet is a directory of names, titles, phone numbers, and addresses.

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NAME TITLE EMAIL MAIN PHONE DIRECT PHONE
Alexander Bradley Chief Financial Officer alex.bradley@firstsolar.com (602) 414-9300 (HQ) disguised
Markus Gloeckler Chief Technology Officer mgloeckler@firstsolar.com (602) 414-9300 (HQ)
disguised
Nicholas Strevel VP - Product Development nstrevel@firstsolar.com (602) 414-9300 (HQ)
disguised
Andrew Martin VP - Human Resources andrew.martin@firstsolar.com (602) 414-9300 (HQ)
disguised

 

Download the First Solar Deep-Dive Report to gain contact information for all 1598 contacts.

 

First Solar Executive Leadership Team

NAME TITLE
Mark Widmar Chief Executive Officer
Alex Bradley Chief Financial Officer
Georges Antoun Chief Commercial Officer
Michael Koralewski Chief Manufacturing Operations Officer
Kuntal Kumar Verma Chief Manufacturing Engineering Officer
Pat Buehler Chief Quality and Reliability Officer
Markus Gloeckler Chief Technology Officer
Caroline Stockdale Chief People and Communications Officer
Jason Dymbort General Counsel and Secretary

 

Download the First Solar Deep-Dive Report to gain access to profiles of the key decision-makers at First Solar.

 

First Solar Board of Directors 

NAME TITLE COMPANY
Michael J. Ahearn Chairman of the Board First Solar, Inc.
Mark Widmar Chief Executive Officer First Solar, Inc.
George A. Hambro Former Chief Operating Officer First Solar, Inc.
Sharon L. Allen Former U.S. Chairwoman Deloitte LLP
Kathryn A. Hollister Chief Strategy Officer Deloitte LLP
Richard D. Chapman Former Chief Financial Officer Walton Enterprises, Inc.
Anita Marangoly George Strategic Advisor CDPQ Global
Molly Joseph CEO - UNH Global &bEVP, Global, UnitedHealth Group UnitedHealthcare Global
Craig Kennedy Former President German Marshall Fund
William J. Post Retired Chairman and CEO Pinnacle West Capital Corporation
Paul H. Stebbins Chairman Emeritus and Eon-Employee Director World Fuel Services Corporation
Michael T. Sweeney Former CEO Steinway Musical Instruments, Inc

 

 

First Solar Sales Trigger Events

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First Solar Plans to Put $680 Million PV Plant In Ohio
October 5, 2021

First Solar New Plant
This facility measures at 1.8million square feet and is projected to create over 500 jobs. Additionally this plant is expected to produce a PV module for the US Solar Market. Employees within the facility will focus on AI, IoT, and machine-to-machine communication. 

Mark Widmar CEO of First Solar states, “This facility will represent a significant leap forward in photovoltaics manufacturing, a true factory of the future. It will leverage our advantaged position at the intersection of efficiency, energy yield, optimized form factor, and cost competitiveness, while leading our manufacturing fleet in delivering the highest efficiency and wattage, and the lowest cost per watt."

Source

First Solar, Inc. Announces it will Expand Global Footprint In India with a New GW Facility
July 29, 2021

First Solar Expands Manufacturing footprint
The company plans to invest $684 million in a new vertically integrated photovoltaic (PV) solar module manufacturing facility located in India. This facility is expected to be built in the state of Tamil Nadu. Operations will commence in 2023.

The planned facility is planned to have 3.3 gigawatts (GW)DC. First Solar anticipates that its nameplate manufacturing capacity will double to 16 GWDC in 2024.

“India is an attractive market for First Solar, and not simply because our module technology is advantaged in its hot, humid climate. It is an inherently sustainable market, underpinned by a growing economy and appetite for energy, with a well-defined goal that will need over 25 GW of solar to be deployed every year for the next nine years,” said Mark Widmar, chief executive officer, First Solar.

Source

 

 

First Solar, Inc. Completes Sale of North American O&M Business to NovaSource
March 31, 2021

Nova Source logo


The company announced the completion of the announced sale of North American Operations and Maintenance (O&M) business to NovaSource Power Services today.

Closing of the transaction, approximately 270 First Solar O&M associates joined NovaSource. The acquisition makes NovaSource the largest O&M provider globally.

Source 

 

First Solar Sells its Development Platform to Leeward
January 25, 2021

 First Solar Solar Panels

The company has entered into a Purchase and Sale Agreement with Leeward Renewable Energy Development, LLC. The transaction is expected to close in the first quarter of 2021.

“The sale of the platform is a result of the strategic review we announced in 2020 and we’re pleased that it will be acquired by Leeward, a company that shares our values and vision for a sustainable energy future,” said Mark Widmar, chief executive officer, First Solar. “Enabled by our Series 6 module’s seamless compatibility with industry systems and processes, the sale is part of a transition that allows us to focus on doing what we do best, which is scaling, developing, and selling our world-class module technology.”

Source

 

Download the First Solar Deep-Dive Report to gain access to all 48 sales trigger events.

 

First Solar Earnings Call Highlights 

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First Solar, Inc, (NASDAQ: FSLR) Q2 2021 Earnings Call
July 29, 2021 

Executives in Attendance:

  • Mitchell Ennis - Manager, IR
  • Mark Widmar - CEO & Director
  • Alexander Bradley - CFO

Analysts Present:

  • Philip Shen - ROTH Capital Partners
  • Benjamin Kallo - Robert W. Baird & Co.
  • Brian Lee - Goldman Sachs Group

 

Comments from Mark Widmar, CEO:

"I'm pleased to announce that contingent upon permitting and approval of government incentives that are satisfactory to First Solar, we are intending to invest approximately $680 million to add 3.3 gigawatts of manufacturing capacity in India."

"These next-generation factories represent a significant leap forward in our technology road map and will produce our most competitively advantaged modules with an expected lower cost per watt and environmental footprint compared to our existing fleet."

"From a technology standpoint, our production lines are manufacturing record modules. To illustrate this point, samples produced during our regular production process were submitted for external verification and confirmed by the National Renewable Energy Laboratory at a world record 19.2% glass area efficiency for a CdTe module."

"Additionally, our advanced research team has been creating new optionality in our R&D road map. For example, we recently deployed prototypes of early-stage bifacial modules at a test facility and are pleased with the initial results."

"As it relates to our CuRe program, the factory updates and tool implementations at our Vietnam site requires international travel from both third-party equipment installers as well as our U.S.-based associates. But we continue to work with relevant agencies in Vietnam who support this essential travel in a safe manner." 

 

First Solar Q2 Earnings Call

First Solar Q2 Presentation

Source

 

 

First Solar Financial Highlights  

Fiscal Year
Fiscal Year Ends December 31, 2021
Most Recent Quarter July 29, 2021
Profitability
Profit Margin 18.96%
Operating Margin 17.21%
Management Effectiveness
Return on Assets 4.46%
Return on Equity 10.22%
Income Statement
Revenue $2.97 Billion
Revenue Per Share 27.99
Quarterly Revenue Growth -2.10%
Gross Profit 713.17M
EBITDA 758.97M
Net Income Avi to Common 562.86M
Diluted EPS 5.26
Quarterly Earnings Growth 123.40%
Balance Sheet
Total Cash 1.77B
Total Cash Per Share 16.6
Total Debt 468.99M
Total Debt/Equity 8.11
Current Ratio 4.77
Book Value Per Share 54.4
Cash Flow Statement
Operating Cash Flow 291.99M
Levered Free Cash Flow -12.13M

 

 

Highlights from 2020 CEO's Letter to Shareholders

Mark Widmar
Chief Executive Officer

 Mark Widmar First Solar CEO

"Overall, I am pleased with the commercial implementation of our Series 6 manufacturing roadmap. We started Series 6 commercial production in April of 2018, and exited 2020 with a nameplate manufacturing capacity of 6.3 gigawatts (GW)."

"With six factories currently in operation across a geographically diverse footprint in the United States, Malaysia, and Vietnam, we have a strong platform from which we expect to grow, increasing expected nameplate capacity ~50% by year-end 2022."

"In 2020, the capabilities of our CadTel technology continued to grow, as we exited the year with average watts per module of 440 and a top production bin of 445 watts. This momentum has continued into 2021, with our modules achieving a top production bin of 450 watts in February."

"Net sales in 2020 were $2.7 billion, with earnings per share of $3.73. Over the past three years we have invested in six new Series 6 factories, and despite this signicant investment, our healthy balance sheet remains a strategic differentiator. Our net-cash position, which includes cash and cash equivalents, restricted cash, and marketable securities, less debt, at year-end was $1.5 billion."

"Comparing December 2020 against December 2019, megawatts (MW) produced per day increased to 17.3MW, an increase of 23%. Fleet-wide capacity utilization increased to 117%, an increase of 20 percentage points. Production yield increased to 97.6%, an increase of 3.2 percentage points. Average watts per module increased to 439 watts, an increase of 9 watts, and as noted, our top production bin increased to 445 watts."

Source

Download the First Solar Deep-Dive Report to gain access to full First Solar investor presentations and earnings call highlights.

 

First Solar's Capabilities

The company is focusing on markets and energy applications in which solar power can be a low cost solution. This includes regions with high solar resources, and high prices in electricity. First Solar differentiates its product offerings by geographic market. Products and service offerings are designed according to the following business areas:

  • PV Solar Modules - The modules utilize the company's CdTe technology for manufacturing and quality control. First Solar's technology demonstrates performance advantages over crystalline silicon solar modules yielding long term reliability.
  • Power Plant Solutions - These solutions develop and sell P0 solar power systems. These systems use modules manufactured to provide OM services. The company's gridconnected systems support its energy portfolio, reduce the consumption of fossil-fuel, and mitigate the risk of fuel price volatility.

 

First Solar Research and Development

The company's R&D department researches product development, manufacturing, and applications. The focus of First Solar's R&D is to improve the wattage and energy yield of solar modules. The company primarily conducts R&D activities and processes at the plant located in Perrysburg, Ohio.

First Solar regularly produces research cells in laboratories. The research cells are produced using lab equipment and methods that reflect the company's manufacturing capabilities.

 

First Solar Strategic Focuses

  • Differentiated Technology
  • Manufacturing Process
  • Diversified Capabilities
  • Financial Viability
  • Sustainability

Source 

 

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