Sales were $660m, an increase from $609.8m a year earlier but off $345m from third quarter last year.

“First Solar’s performance in the quarter was impacted by an aggressive competitive environment, an uncertain regulatory environment, warranty-related charges and restructuring costs incurred to help position our business for the future,” says chief executive Michael Ahearn.

Despite those “headwinds,” he says the company continues to make strides to cut manufacturing costs and boost module efficiency, while successfully building out a captive 2.7GW