Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

First Solar Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net sales	887,668)	1,010,482)	794,108)	1,158,553)	801,090)	810,673)	548,286)	1,002,391)	628,933)	620,955)	367,040)	907,319)	583,504)	629,180)	803,374)	609,232)	927,565)	642,411)	532,124)	1,399,377)	546,806)	584,956)	531,978)
Cost of sales	(442,357)	(511,593)	(448,105)	(656,520)	(424,915)	(500,253)	(436,235)	(941,778)	(607,951)	(644,155)	(355,577)	(660,830)	(458,924)	(455,062)	(618,607)	(449,372)	(634,550)	(504,951)	(441,786)	(1,065,822)	(408,443)	(507,774)	(531,866)
Gross profit (loss)	445,311)	498,889)	346,003)	502,033)	376,175)	310,420)	112,051)	60,613)	20,982)	(23,200)	11,463)	246,489)	124,580)	174,118)	184,767)	159,860)	293,015)	137,460)	90,338)	333,555)	138,363)	77,182)	112)
Selling, general and administrative	(46,293)	(46,560)	(45,827)	(57,094)	(50,172)	(46,328)	(44,028)	(42,734)	(46,368)	(38,894)	(36,728)	(38,411)	(43,476)	(36,346)	(52,087)	(62,700)	(49,861)	(51,770)	(58,587)	(55,643)	(53,542)	(50,934)	(45,352)
Research and development	(50,197)	(51,937)	(42,742)	(43,862)	(41,190)	(36,745)	(30,510)	(31,284)	(29,183)	(25,229)	(27,108)	(29,881)	(25,426)	(23,935)	(19,873)	(22,670)	(22,972)	(22,483)	(25,613)	(25,427)	(24,912)	(24,395)	(21,877)
Production start-up	(26,822)	(27,451)	(15,408)	(9,847)	(12,059)	(23,377)	(19,494)	(32,740)	(19,768)	(13,231)	(7,338)	(5,038)	(2,945)	(1,715)	(11,354)	(16,716)	(13,019)	(6,311)	(4,482)	(7,351)	(18,605)	(10,437)	(9,522)
Litigation loss	—)	(430)	—)	—)	—)	(35,590)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(6,000)	—)	(363,000)	—)	—)	—)
Operating expenses	(123,312)	(126,378)	(103,977)	(110,803)	(103,421)	(142,040)	(94,032)	(106,758)	(95,319)	(77,354)	(71,174)	(73,330)	(71,847)	(61,996)	(83,314)	(102,086)	(85,852)	(86,564)	(88,682)	(451,421)	(97,059)	(85,766)	(76,751)
Gain (loss) on sales of businesses, net	—)	—)	1,115)	6,554)	211)	135)	(17)	239)	5,984)	245,381)	1,907)	—)	(1,866)	(1,745)	150,895)	—)	—)	—)	—)	—)	—)	—)	—)
Operating income (loss)	321,999)	372,511)	243,141)	397,784)	272,965)	168,515)	18,002)	(45,906)	(68,353)	144,827)	(57,804)	173,159)	50,867)	110,377)	252,348)	57,774)	207,163)	50,896)	1,656)	(117,866)	41,304)	(8,584)	(76,639)
Foreign currency income (loss), net	(5,158)	(9,649)	(2,858)	(9,947)	(987)	(4,652)	(5,947)	(4,373)	(4,859)	(2,984)	(4,198)	(3,362)	(1,018)	(1,000)	(2,595)	(1,341)	(1,852)	(1,299)	(398)	(816)	1,209)	1,726)	172)
Interest income	22,580)	24,599)	27,245)	23,565)	23,254)	25,026)	25,822)	18,330)	9,749)	2,880)	2,325)	2,183)	1,752)	1,288)	956)	1,446)	2,109)	3,674)	9,330)	9,663)	11,454)	13,510)	14,259)
Interest expense, net	(9,008)	(9,765)	(9,210)	(7,068)	(3,734)	(1,415)	(748)	(3,133)	(2,991)	(3,236)	(2,865)	(2,530)	(2,958)	(4,623)	(2,996)	(3,018)	(10,975)	(3,254)	(6,789)	(3,048)	(4,976)	(8,921)	(10,121)
Other income (expense), net	(3,071)	(565)	(2,799)	(27,653)	(1,033)	997)	(1,456)	28,510)	4,774)	(1,883)	(212)	(2,284)	(2,603)	(3,247)	8,448)	(3,279)	(3,236)	(3,195)	(2,222)	21,873)	(3,399)	(4,438)	3,509)
Income (loss) before taxes and equity in earnings (losses)	327,342)	377,131)	255,519)	376,681)	290,465)	188,471)	35,673)	(6,572)	(61,680)	139,604)	(62,754)	167,166)	46,040)	102,795)	256,161)	51,582)	193,209)	46,822)	1,577)	(90,194)	45,592)	(6,707)	(68,820)
Income tax (expense) benefit	(14,386)	(27,775)	(18,903)	(27,442)	(22,067)	(17,892)	6,888)	(976)	12,512)	(83,799)	19,499)	(35,796)	(837)	(20,346)	(46,490)	66,400)	(38,107)	(10,214)	89,215)	30,865)	(15,035)	(11,744)	1,394)
Equity in earnings (losses), net of tax	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(2,279)	(65)	303)	(88)	(79)	65)	(97)	(173)
Net income (loss)	312,956)	349,356)	236,616)	349,239)	268,398)	170,579)	42,561)	(7,548)	(49,168)	55,805)	(43,255)	131,370)	45,203)	82,449)	209,671)	115,703)	155,037)	36,911)	90,704)	(59,408)	30,622)	(18,548)	(67,599)

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	First Solar Inc. net sales increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	First Solar Inc. operating income (loss) increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	First Solar Inc. net income (loss) increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.

First Solar Inc. (NASDAQ:FSLR)

Income Statement Quarterly Data

Income Statement
Quarterly Data