First Solar Shares Are Getting Slammed

FirstSolar shares couldn't hang on to early after-hours gains yesterday and are down more than 7% today.

MarketWatch's Claudia Assis notes execs warned in their earnings call that Q2 earnings would underwhelm. From the transcript:

...while we do not provide the straight quarterly guidance it is noteworthy that our second quarter 2013 earnings will be significantly lower than the current consensus estimate of approximately $0.60 due to the expected timing of certain project sales. This implies that the remainder of the earnings for the year will largely be reflected in the second half of the year and we'll see consensus estimates for those periods.

Despite raising full-year earnings guidance, they kept revenue estimates the same.

Shares were trading at $62.58. They closed at $67.45 yesterday.

SolarCity reports earnings after the bell today.