What caused FSLR's net profit volatility since 2022?

First Solar's (FSLR) net profit volatility since 2022 can be attributed to a combination of factors:

1. **Strategic Decisions and Cost-Cutting Measures**: FSLR's transition to production of Series 6 modules led to a significant reduction in its global workforce by 1,600 jobs, or 27% of its workforce. Such strategic shifts and cost-cutting measures can have a substantial impact on net profits, especially if they involve restructuring and asset impairments.
2. **Market Conditions and Pricing Pressures**: The company has faced challenges due to a 30% slide in prices, primarily driven by lower demand in China and resulting global oversupply. These pricing pressures can lead to reduced margins and profitability.
3. **Global Economic and Policy Factors**: The passage of the Inflation Reduction Act of 2022 has created a favorable environment for clean energy investments. However, the impact of such policies on FSLR's profitability can be complex, as it may influence demand, pricing, and competition in the solar module market.
4. **Competition and Market Dynamics**: The solar energy market is highly competitive, and FSLR has faced increased competition, which can affect its market share and pricing power. The ability to maintain or increase market share in a declining price environment is crucial for profitability.

In summary, FSLR's net profit volatility since 2022 is a result of a combination of strategic decisions, market conditions, global economic and policy factors, and competition. The company's ability to navigate these factors will be critical in determining its future financial performance.