Why Did Sunrun Miss Analysts’ 3Q16 Revenue Estimates?
For 3Q16, Sunrun’s (RUN) consolidated revenue came in at ~$112 million against analysts’ expectations of $135 million.
SolarCity’s Aggressive Integration and Product Strategy
SolarCity’s product offerings include solar energy, solar energy systems, in-house manufacturing of solar system components, and energy storage systems.
A Glimpse at Vivint Solar’s Aggressive Expansion
Vivint Solar has witnessed rapid growth since inception with installed capacity reaching 129.7 megawatts as of June 30, 2014. The company went public on October 1, 2014.
How the World Is Dealing with the Climate Challenge
Extreme climate change events hamper productivity, thus affecting industries such as agriculture, fishing, energy, trade, transportation, and tourism.
Why Did SolarCity’s Stock Tumble after 1Q16 Earnings?
SolarCity posted mixed results for 1Q16. The company reported adjusted EPS of -$2.56 compared to the analyst consensus EPS estimate of -$2.31.
First Solar Clinches Top SPY Position
First Solar (FSLR) rose 5.7% yesterday after 195 nations attending the Paris climate change conference reached a historic agreement to cut emissions to address climate change.
Introducing SolarCity, a Powerhouse in Solar Technology
SolarCity is a vertically-integrated solar company. Despite advancing technology and expanding reach, it has seen negative earnings most years since 2007.
Solar Companies See Pressure to Improve Top Line Growth in 3Q16
Following 2Q16, major downstream solar companies such as Sunrun, SolarCity, and SunPower have revised their 2016 guidances downward.
How Did Sunrun Stock React to 1Q16 Results?
Sunrun (RUN) announced its 1Q16 earnings results on May 12, 2016. In this series, we’ll look at the 1Q16 results, compare them with analysts’ estimates, and see the factors behind deviations.
Last but Not Least: Moving Averages and Analyst Estimates of Renewable Energy Companies
Wall Street analyst consensus estimates suggest a whopping 106% upside for the four biggest renewable energy companies.
SolarCity: A Quick Trip down Memory Lane
SolarCity was founded in 2006 with the initial focused on selling, financing, and installing solar energy systems for residential and commercial customers.
Sunrun: The Beginning of a Residential Solar Major
Sunrun was co-founded in 2007 as a startup by Ed Fenster and Lynn Jurich, with an aim to create worldwide use of solar energy. It began offering solar services in 2008.
Solar ETFs and Stocks Fail to Shine During the Week of June 26
All ten solar players on our coverage list fell during the week. The SPDR S&P 500 ETF fell 0.5% during the same week.
Understanding SolarCity’s Valuation Compared to Peers: Who’s Trading at a Discount?
Among the downstream solar companies, SolarCity (SCTY) has the highest EV-to-sales value of 8.70x, which is closely followed by Vivint Solar at 8.31x.
Reading into the Moving Averages and Analyst Estimates for Renewable Energy Companies
Wall Street analyst consensus estimates suggest a whopping 88% upside for these four renewable energy companies as of January 12, 2016.
How Are Analysts Rating Vivint Solar?
Of the six analysts covering Vivint Solar (VSLR) stock, two have given the company a “buy” rating, two a “hold” rating, and two a “sell” rating.
Why Jim Chanos Is Continuing His Short Position in Tesla
Jim Chanos, the billionaire investor and a well-known short seller in the hedge fund industry, said at the Delivering Alpha Conference on Tuesday, September 12, 2017, that he is continuing his short position in Tesla (TSLA).
What Factors Have Driven Downstream Solar Stocks So Far in 2016?
In this series, we will perform a comparative analysis of downstream solar companies’ 1Q16 earnings and SunPower’s downstream operations. We will take a close look at its management’s guidance and analyst expectations for 2016.
Jim Chanos on Tesla: ‘We Think the Equity Is Worthless’
Jim Chanos, a prominent short seller, discussed his view on Tesla in a recent interview with CNBC. He has a short bet on Tesla (TSLA) and said, “we think the equity is worthless.”
How Do Analysts Rate SolarCity ahead of 3Q16 Results?
Since the release of SolarCity’s 2Q16 results, three of the 15 analysts covering the stock lowered their price targets.
How Do Analysts Rate Sunrun ahead of Its 3Q16 Results?
Of the 11 analysts covering Sunrun (RUN) stock, nine analysts (81.8%) gave the company a “buy” rating. Two analysts (18.2%) rated it a “hold,” and there weren’t any “sell” ratings on Sunrun’s stock on November 4, 2016.
What to Expect from SolarCity’s 3Q16 Earnings
Between its 2Q16 earnings release on August 9 and October 21, 2016, SolarCity’s stock price fell nearly 19%.
Could FuelCell and SolarCity Rise More than 100%?
Wall Street analysts’ consensus estimates suggest a combined upside of 137% for FuelCell Energy, SolarCity, Plug Power, and EnerSys
Inside SolarCity’s Fundraising for Business Expansion
SolarCity initially raised funds through the issue of warrants to investors on preferred stock. It also raised capital through a range of investment funds.
Quick Look: Tesla’s Valuation Multiples in 4Q16
After the merger with SolarCity (SCTY), Tesla’s valuation multiples will depend on the growth potential of its energy business.
Is Sunrun’s Growth Rate Sustainable?
The extension of the investment tax credit for owning eligible solar systems and a decrease in solar hardware prices provide a strong growth opportunity for downstream solar companies.
SolarCity’s Customized Service Offerings
SolarCity’s financing services aim to provide minimal up-front costs with multiple funding options, which allows customers to choose and enjoy tax credits.
What Can Investors Expect from Sunrun in 2016?
Moving ahead, Sunrun (RUN) expects to deploy about 285.0 megawatts in fiscal 2016—compared to 202.9 megawatts in fiscal 2015.
Why Jim Chanos Is Bearish on Tesla
Jim Chanos has a bearish view on Tesla, as he’s not satisfied with the company’s fundamentals or the various organizational changes.
How Did Vivint Solar’s Costs Affect Its Bottom Line in 3Q17?
In 3Q17, Vivint Solar (VSLR) posted $34.7 million as its cost of revenue for its operating leases and incentives, higher than the $33.8 million in 2Q17 but lower than the $39.3 million in 3Q16.
Vivint Solar Beat Analysts’ 3Q17 Revenue Estimates
Vivint Solar reported $75.1 million in consolidated revenue for 3Q17 compared to $73.0 million in 2Q17 and $41.3 million 3Q16.
Vivint Solar Reported Rise in Estimated Retained Value in 3Q17
Vivint Solar (VSLR) reported a cost per watt of $2.94 for 3Q17, higher than the $2.88 it reported in 2Q17 and $3.85 in 3Q16.
Will Model 3 Deliveries Drive Tesla Stock in 2017?
On January 16, 2017, Tesla’s consensus 12-month target price was $238.75 with just 0.4% upside potential from its market price of $237.75.
Analyzing Tesla’s Updated Energy Products
In October, Tesla unveiled the second version of the Powerwall and Powerpack. The second version comes with higher energy storage capacity.
What Does the SolarCity Deal Mean for Tesla’s Investors?
On June 21, Tesla revealed its intentions to acquire SolarCity. On June 22, Tesla’s stock closed at $196.66 with a massive loss of 10.5% during the session.
What to Expect from Sunrun’s Future Earnings
For the coming quarter, analysts expect Sunrun’s (RUN) revenue to be ~$130 million, and they expect significant improvement in company revenue in the latter half of 1H17.
How Did Sunrun’s Costs in 3Q16 Affect Its Gross Margins?
Sunrun (SUN) reported an operating loss of ~$51 million for 3Q16 compared to an operating loss of $48 million in 2Q16 and $63 million in 3Q15.
Why Did Sunrun’s Stock Price Surge after Its 3Q16 Results?
Sunrun (RUN) announced its 3Q16 earnings results on November 10, 2016, after market hours. Sunrun reported earnings per share of $0.16, compared to analysts’ consensus EPS estimate of -$0.20.
How Did Vivint Solar’s Costs in 3Q16 Affect Its Bottom Line?
Vivint Solar (VSLR) reported $39.3 million in operating leases and incentives revenue costs for 3Q16 compared to $38.5 million in 2Q16 and $37.6 million in 3Q15.
Vivint Solar Reported a Record Low Cost per Watt in 3Q16
Vivint Solar (VSLR) reported a record low cost per watt of $2.85 for 3Q16 as compared to $2.94 in 2Q16 and $3.12 in 3Q15.
What Do Analysts Expect for Sunrun’s Margins in 3Q16?
Sunrun’s (RUN) gross profit for 2Q16 came in at $22.3 million. For 3Q16, analysts expect the company to report a gross profit of $23.3 million.
Why Analysts Expect Vivint Solar’s Revenue to Rise in 3Q16
Analysts estimate that Vivint Solar (VSLR) will report revenue of $44.0 million in 3Q16, which is almost a 26.0% rise on a quarter-over-quarter basis.
Analyzing SolarCity’s Leverage and Liquidity Position
SolarCity’s interest expenses have risen more than fourfold in the last two years.
Behind the Fidelity Blue Chip Growth Fund’s Disappointing Performance in 2016
FBGRX has had a below-average 2016 so far, placing seventh in our select peer group of 12 funds in terms of point-to-point returns.
Which Downstream Solar Company Is Trading at a Discount?
As the downstream solar industry is still in its growth phase, operating losses are common among incumbent players.
How the 2Q16 Revenues of Downstream Solar Players Compare
SunPower (SPWR), Sunrun (RUN), Vivint Solar (VSLR), and SolarCity (SCTY) all reported their revenues beating analysts’ 2Q16 revenue expectations.
How SolarCity’s 2Q16 Operating Metrics and Fiscal 2016 Guidance Look
For 2Q16, SolarCity reported its MW (megawatts) installed at 201 MW, compared to 214 MW in 1Q16 and 189 MW in 2Q15.
Must Watch for Investors: Sunrun’s Key Operating Metrics
For 1Q16, Sunrun’s creation cost per watt was $4.11 compared to $3.64 in 4Q15. Its built install cost was $2.36 compared to $2.33 in 4Q15.
Vivint Solar’s Key Operating Metrics: Must Watch for Investors
Vivint Solar reported its total cost per watt as $3.34 for 1Q16 compared to $3.12 in 4Q15. Uncertainty about its net metering system increased customer acquisition cost.
Zeroing in on Details of SolarCity’s Merger Agreement with Tesla
Tesla Motors (TSLA) is set to acquire SolarCity in an all-stock transaction. SolarCity’s shareholders will receive 0.11 shares of Tesla Motors for each share of SolarCity.
Analysts Expect Vivint Solar’s Revenue to Increase in 2Q16
Vivint Solar (VSLR) reported $17.2 million in consolidated revenue for 1Q16 and $16.1 million for 2Q15. Analysts estimate 2Q15 revenue of $25.0 million.
What’s Been Ailing the Fidelity Blue Chip Growth Fund?
Stock picks from the healthcare sector are primarily responsible for FBGRX’s poor showing YTD. Allergan has hurt the sector, with Regeneron and Celgene.
Why SolarCity’s Leverage and Liquidity Are Important
As of March 31, 2016, SolarCity (SCTY) had about $3.2 billion in consolidated debt on its books. Of the $3.2 billion, ~$1.5 billion was total recourse debt.
Why Tesla’s SolarCity Acquisition Could Pay Off
According to Tesla’s (TSLA) SolarCity acquisition proposal, it’s ready to pay $26.50 to $28.50 per share for SolarCity.
Why Does Tesla Want to Acquire SolarCity?
SolarCity’s wide network of sales and distribution channels and customer-friendly financing products are expected to benefit Tesla and its customers.
How 1Q16 Revenues of Downstream Solar Players Compare
The downstream solar business is all about capturing market share. Because the solar lease contracts and power purchase agreements typically last for 20 years, a company with higher market share in the mature stage could get more revenue than the company with lower market share.
What Made Sunrun’s Costs Increase in 1Q16?
Sunrun (RUN) reported the cost of operating leases and incentives as $38.1 million for 1Q16 compared to $21.4 million in 1Q15.
SolarCity Beat Analysts’ 1Q16 Revenue Estimates
SolarCity (SCTY) reported $123 million in 1Q16 revenue against analysts’ consensus estimate of $113 million.
What to Expect from SolarCity’s Future Earnings
Moving ahead, SolarCity’s newly launched residential solar (TAN) loan offering could help the company in reviving its bookings in the short term.
Why Analysts Expect SolarCity’s Revenue to Fall in 1Q16
SolarCity (SCTY) reported about $115 million in consolidated revenue for 4Q15. Analysts estimate that it will report revenue of $113 million in 1Q16.
What Are the Analysts’ Ratings for Sunrun?
Of the eight analysts covering Sunrun (RUN) stock, six analysts, or 75%, gave the company a “buy” rating. Two analysts, or 25%, rated it a “hold.” There weren’t any “sell” rating on Sunrun’s stock.
What’s SolarCity up Against? Key Risks of the Business
Downstream solar players like SolarCity (SCTY) depend on a wide variety of state and federal tax credits, incentives, and rebates to expand their businesses.
How SolarCity’s Operational Performance Stands up to Peers
As of December 31, 2015, the cumulative installed capacity of SolarCity stood at 1,945 MW as compared to Sunrun’s 596 MW and Vivint Solar’s 459 MW.
Understanding SolarCity’s Business Strategy
Business expansion is crucial for companies like SolarCity, which intends to expand its presence via partnerships with homebuilders and industry leaders.
Utilities, Solar Players Come Together for Net Metering Reforms
The much-debated issue of net metering saw an interesting development this week when six New York utilities and three solar companies proposed a solution.
Why SolarCity’s Adjusted Net Losses Remained Flat in Fiscal 2015
The downstream solar business is capital intensive and requires companies like SolarCity to hold huge upfront capital for the sale of products and services.
How Diversified Is SolarCity’s Customer Base?
The majority of SolarCity’s customers are individual homeowners. Residential installations in 4Q15 came in at 221 MW, as compared to 203 MW in 3Q15.
Understanding SolarCity’s Key Operational Metrics
Key operational metrics such as megawatts deployed allow us to compare the operational performances of downstream solar companies like SolarCity.
A Closer Look at SolarCity’s Key Performance Drivers
Government incentives, environment regulations, seasonal changes in energy demand, and cost factors are among SolarCity’s biggest performance drivers.
The Story behind SolarCity’s Inorganic Growth
SolarCity began its journey in 2006, with a vision to provide renewable energy to residential and commercial customers at a price lower than utility rates.
How SolarCity’s Customers Benefit from Solar Tax Credits
ITCs (investment tax credits) are dollar-for-dollar reductions on income taxes. These apply to the residential and commercial deployment of solar systems.
How Does SolarCity Make Money?
SolarCity’s business is divided into two segments: Operating Leases and Solar Energy Systems Incentives and Solar Energy Systems and Component Sales.
Is Sunrun Trading at a Discount Compared to Its Peers?
Among the seven firms covering the Sunrun stock, Credit Suisse is most bullish on the stock, with a price target of $21 assigned on March 21, 2016.
Can Sunrun Outperform Its Peers in Fiscal 2016?
Sunrun (RUN) expects to deploy about 285.0 megawatts (or MW) in fiscal 2016, compared to 202.9 MW deployed in fiscal 2015.
Is Vivint Solar Trading at a Discount Compared to Its Peers?
One out of four analysts covering Vivint Solar (VSLR) has rated the stock a “buy,” two analysts rated the stock a “hold,” and one analyst recommends a “sell” for the stock.
Must-Know: Key Risks Involved in Sunrun’s Business
Sunrun is required to maintain the quality of its assets to raise capital at low cost.
Can Vivint Solar Shine Again after the Failed SunEdison Deal?
On March 7, 2016, Vivint Solar terminated its merger agreement with SunEdison (SUNE) because SunEdison failed to consummate the acquisition in time.
Must Know: Key Risks Involved in Vivint Solar’s Business
The elimination of net metering system in Nevada affected the expansion plans of Vivint Solar and also led to the market exit of its peers Sunrun and SolarCity.
A Closer Look at Key Elements of Vivint Solar’s Business Strategy
Vivint Solar intends to expand its presence in existing solar markets and penetrate into new markets by leveraging its brand presence and customer base.
How Have Vivint Solar’s Segments Performed in Recent Quarters?
Vivint Solar reported $64.18 million in consolidated revenue for fiscal 2015 compared to $25.25 million during fiscal 2014.
How Vivint Solar’s Customers Benefited from Solar Tax Credits
ITCs (investment tax credits) are a dollar-for-dollar reduction on an income tax bill. It is applicable to both residential and commercial deployment of solar systems.
How Does Vivint Solar Make Money?
Vivint Solar’s business model is divided into two revenue segments: Operating Leases and Incentives and Solar Energy Systems and Product Sales.
Analyzing Key Elements of Sunrun’s Business Strategy
Unlike its peers, Sunrun is building an open platform of services and tools to provide a differentiated customer experience and, at the same time, gaining a wide customer base.
Sunrun’s Operations: Segment-Wise Profitability Analysis
Sunrun reported $111.78 million as the cost of operating leases and incentives segment for fiscal 2015 compared to $72.89 million in fiscal 2014.
Must-Know for Investors: Sunrun’s Service and Product Suite
On March 10, 2016, Sunrun launched a new product, BrightBox. It is the first time that the company will be offering energy storage facility to homeowners.
Need to Know: Sunrun’s Major Acquisitions
In February 2014, Sunrun (RUN) acquired the residential business of REC Solar, AEE Solar, and SnapNrack from Mainstream Energy Corporation for $78.8 million.
How Sunrun’s Customers Benefited from Tax Credits and Incentives
Investment tax credits are dollar-for-dollar reductions in an income tax bill. It is applicable to both residential and commercial deployment of solar systems.
How Does Sunrun Make Money?
Extension of ITCs for investments in solar energy has been key for the rapid expansion of downstream solar companies like Sunrun, Vivint Solar (VSLR), SolarCity (SCTY), and SunPower (SPWR).
Must Know for Investors: Vivint Solar’s Liquidity Position
The business model of downstream solar players like Vivint Solar generate income over the term of customer agreements, which typically last for 20 years.
Behind Vivint Solar’s Key Operational Metrics
Vivint Solar’s estimated nominal contracted payments remaining increased by $251.4 million during 4Q15, compared to $214 million during 3Q15.
Renewable Energy Stocks Trade below 100-Day Moving Averages
FuelCell Energy (FCEL) is trading 42% below its 100-day moving average, as of yesterday’s close. In comparison, SolarCity (SCTY) is trading 25% below its 100-day moving average.
What Investors Can Expect from Renewable Energy Companies
Wall Street analysts’ consensus estimates suggest a whopping 112% upside for renewable energy companies FuelCell Energy, Solar Energy, Power Plug, and EnerSys.
Crude Oil Exporters in the Face of Renewable Energy in 2016
Sooner or later, a shift will likely take place from non-renewable to renewable energy sources that offer sustainable growth potential for businesses.
Analyzing the Leverage of Renewable Energy Companies
SolarCity’s debt grew by 340% while EnerSys’s and Plug Power’s debt grew by 60%.
Analyst Estimates Suggest Upsides for Renewable Energy Companies
The Guggenheim Solar ETF and the VanEck Vectors Global Alternate Energy ETF are trading 4% and 3.9% above their respective 100-day moving averages.
Renewable Energy Sources Could Replace Crude Oil
The Guggenheim Solar ETF, the PowerShares WilderHill Clean Energy ETF, and the VanEck Vectors Global Alternate Energy ETF invest in renewable energy.
Plug Power and SolarCity Saw Major Gains in Sales and Profits
Plug Power (PLUG) and SolarCity’s (SCTY) sales grew by 140% and 56%, respectively, on a YoY (year-over-year) basis in fiscal 3Q15.
Renewable Energy Companies Generated Less Cash Flow than Needed
The FCF (free cash flow) is what’s left after the total capital expenditures from operating cash flows are spent.
What Paris Climate Agreement Means for Fuel Cells and Solar Energy
Clean energy was one of the important issues in the Paris Climate Agreement. Fuel cells produce clean energy from a chemical reaction between anodes and cathodes.
OPEC Could Worry about Growing Non-Fossil Fuel Consumption
Experts think that OPEC (Organization of the Petroleum Exporting Countries) already sees the threat from solar and other non-fossil fuel energy sources.