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Price: $37.75, Change: $+1.67, Percent Change: +4.63%
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Asia
Briscoe Group Fiscal Q1 Sales Tick Higher
Briscoe Group (NZE:BGP, ASX:BGP) said its sales for the fiscal first quarter ended April 26 increased over 1% year over year to NZ$180.8 million, according to Friday filings with the Australian and New Zealand bourses.Sales in the company's homeware segment rose 2% to NZ$105.7 million, and sporting goods sales edged 0.5% higher to NZ$75.1 million.The company said discretionary consumer spending has dampened due to the Middle East conflict, with a noticeable impact on the retail sector during the latter part of the quarter, while bad weather in New Zealand also had a negative impact on store traffic.
$ASX:BGP$NZE:BGP
Research
Research Alert: Fslr Delivers Resilient Results Despite Continued Backlog Shrinkage
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:FSLR delivered record Q1 2026 revenue of $1.04B (+24% Y/Y, in line with consensus) with record module volumes of 3.8 GW, driving gross margin expansion to 46.5% (+570 bps) and diluted EPS of $3.22, beating consensus of $2.83. Adjusted EBITDA reached $519.8M (+37% Y/Y, 12% over consensus) with margin expanding to 49.8% (+500 bps), demonstrating strong operational leverage. Backlog declined to 47.9 GW from 50.1 GW sequentially, a worrisome trend that warrants close monitoring as sales continue outpacing new bookings. Management forecasts Q2 module sales of 3.4-4.0 GW with Section 45X credits of $330-400M. We expect commercial solar project activity may accelerate heading into mid-year as developers rush to meet the July 4, 2026 tax credit eligibility deadline, which could drive an inflection in bookings during Q2 and Q3. Section 45X credits are projected at $2.15B for the full year, and FSLR's integrated manufacturing approach positions the company favorably to capitalize on IRA support.
$FSLR
Asia
Tongwei's Loss Narrows in Q1
Tongwei's (SHA:600438) net loss attributable to shareholders in the first quarter narrowed year on year to 2.44 billion yuan from 2.59 billion yuan, according to a Shanghai bourse filing on Thursday.Loss per share was 0.54 yuan, compared with 0.58 yuan in the same quarter a year earlier.The Chinese photovoltaics manufacturer's operating revenue dropped 24% to 12.1 billion yuan from 15.9 billion yuan in the prior-year period.
$SHA:600438