First Solar, Inc. (NASDAQ: FSLR) reported its third-quarter 2024 financial results, missing analyst expectations and lowering its full-year guidance. The company posted quarterly sales of $887.67 million, falling short of the consensus estimate of $1.07 billion by 17.3%. This represents a 10.81% increase over sales from the same period last year. Earnings per share (EPS) were $2.91, below the expected $3.11, impacted by a $50 million product warranty reserve charge. First Solar's net income was also affected by this charge. The net cash balance decreased to $0.7 billion from $1.2 billion in the second quarter of 2024. Year-to-date net bookings reached 4.0 GW, with 0.4 GW added since the second quarter earnings call. The expected sales backlog was not specified. The company also cut its full-year 2024 revenue guidance to a range of $4.1 billion to $4.25 billion, down from the previous estimate of $4.4 billion to $4.6 billion. The revised EPS guidance for FY2024 is now $13.00 to $13.50, compared to the prior estimate of $13.00 to $14.00. As a result, First Solar's shares dropped by 6% in after-hours trading.