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First Solar Asset Sale Boosts Earnings

First Solar Inc. (NASDAQ: FSLR) reported third quarter 2015 results after markets closed Thursday afternoon. For the quarter, the solar energy company posted diluted earnings per share (EPS) of $3.38 on revenues of $1.27 billion. In the same period a year ago, the company reported EPS of $0.87 on revenues of $889.31 million. Third-quarter results compare to the Thomson Reuters consensus estimates for EPS of $1.55 on revenues of $1.11 billion.

The big jump in GAAP EPS is the result of higher gross margins associated with the majority sale of the Desert Stateline project...