SunPower Corp

For 3Q16, Sunrun’s (RUN) consolidated revenue came in at ~$112 million against analysts’ expectations of $135 million.

Canadian Solar’s revenues from the sale of electricity in 3Q17 totaled $9.6 million, which was marginally lower than $9.8 million in 2Q17.

A significant proportion of Canadian Solar’s revenue comes from its top five customers, a structure that’s not uncommon in the industry.

SolarCity is a vertically-integrated solar company. Despite advancing technology and expanding reach, it has seen negative earnings most years since 2007.

Following 2Q16, major downstream solar companies such as Sunrun, SolarCity, and SunPower have revised their 2016 guidances downward.

Vivint Solar (VSLR) will announce its 2Q16 earnings results on August 8, 2016, after Market hours. In this series, we’ll look at analysts’ expectations for 2Q16 and 2016 guidance.

Solar stocks have been a sweet spot among equities this year. On average, they’ve gained 50% this year, notably outperforming broader markets.

SolarCity was founded in 2006 with the initial focused on selling, financing, and installing solar energy systems for residential and commercial customers.

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.

While REITs started trading in 1951 and MLPs started off in 1981, the first yieldco was floated in 2005 by Seaspan Corporation, a shipping company.

Analysts expect SunPower (SPWR) to have poor earnings in the second quarter. SunPower’s second-quarter earnings are expected on July 31.

For 3Q16, analysts expect Yingli Solar to report a gross profit of about $31.0 million with a gross margin of about 12.4%, which is in line with the company’s gross margin guidance.

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.

Between its 2Q16 earnings release on August 9 and October 21, 2016, SolarCity’s stock price fell nearly 19%.

The Guggenheim Solar ETF (TAN) gained 0.9% on April 21. American solar stocks account for 47% of the fund’s holdings, and Chinese solar stocks account for another 44%.

With over 6,700 MW of hydro and wind capacity under operation, Brookfield Renewable Energy Partners (BEP) dwarfs all other yieldcos we’ve looked at.

In 4Q17, Canadian Solar expects its solar module shipments to reach ~1.7–1.8 GW.

Wall Street analysts have given SunPower stock a mean target price of $8.56, which indicates a potential upside of 11.5% for the next 12 months.

Wall Street analysts have given First Solar a mean target price of $70.9, which indicates a potential upside of 22% for the next 12 months.

First Solar stock lost 3.4% last week after the US Court of International Trade blocked the Trump administration from withdrawing a tariff exemption.

To boost the domestic solar industry, Trump imposed a 30% tariff on imported panels last year. However, the policy severely impacted the sector.

Enphase Energy (ENPH) stock fell more than 5% Friday after gaining around 25% collectively over the five previous trading sessions.

The recent uptrend in First Solar (FSLR) stock might have soothed investors, but the worst may not be over yet. Here’s why.

Enphase Energy stock fell almost 4% on Monday. The company announced its supply agreement with Sunrun to provide seventh-generation IQ microinverters.

Innovation will be the competitive advantage for Tesla Solar. Tesla launched a solar roof tile last month that’s more efficient and is easier to install.

First Solar stock has an EV-to-EBITDA valuation of 6.4x its estimated earnings for the next 12 months. The industry’s mean valuation is greater than 11x.

SunPower announced its plans to spin-off businesses into global solar panel manufacturing and US distributed solar generation and storage.

First Solar’s (FSLR) third-quarter earnings didn’t boost its stock. Investors were disappointed with wide misses on the revenues and earnings front.

SunPower (SPWR) surprised investors with strong third-quarter earnings on October 30. It reported EPS of $0.07, beating analysts’ consensus estimate.

Yesterday, First Solar (FSLR) returned to profits in Q3 after reporting deep losses in Q2. FSLR missed analysts’ estimates and posted EPS of $0.29.

Solar inverter maker Enphase Energy (ENPH) stock was up more than 4% at 11:10 ET today. ENPH recovered after it fell more than 8% yesterday.

Solar panel maker First Solar (FSLR) plans to report its Q3 earnings on October 24. Analysts expect the company to report earnings per share of $1.19.

Solar stocks highlighted the top-rallied sectors this year. After hitting multiyear highs, many solar stocks have fallen as much as 40% since August.

Almost all solar stocks fell sharply on September 26. First Solar (FSLR) fell about 7% yesterday while this year’s top gainer, Enphase Energy, fell 7.5%.

Top solar stock First Solar (FSLR) has surged about 10% in September. FSLR is trading close to its 52-week high and might continue to march upward.

Almost all the solar stocks have had a fantastic run so far this year, and First Solar (FSLR) is no exception. FSLR stock is up more than 45% year-to-date.

First Solar (FSLR) stock fell more than 10% from its 52-week high early this month. In a strong solar environment, FSLR stock has gained more than 45% YTD.

Solar stocks have been on an impressive run this year. So far, Enphase Energy (ENPH) stock has risen more than 530% in 2019.

Solar stocks started last week significantly lower due to increased trade war concerns. The solar energy space is one of the hottest sectors this year.

FirstSolar (FSLR) and SunEdison (SUNE) published their 2Q15 earnings on August 4 and August 6, respectively. The results starkly contrasted with each other.

SolarEdge Technologies (SEDG) reported its second-quarter earnings on Tuesday. The company reported an EPS of $0.94 for the quarter ending June 30.

Among the top solar stocks, First Solar broke below its 50-day moving average level, which might open a new downside for the stock in the short term.

First Solar (FSLR) reported its second-quarter earnings results yesterday. It reported EPS of -$0.18 for the quarter.

On Wednesday, SunPower reported its second-quarter earnings after the markets closed. The company reported an adjusted loss of $0.22 per share.

First Solar’s second-quarter earnings on August 1 will likely decide its path going forward. The solar space is one of the hottest sectors this year.

First Solar (FSLR) stock offers a potential upside of 9% for the next 12 months. The stock has a mean target price of $70.3—compared to its current market price of $61.8.

Since Tesla’s (TSLA) inception, analysts have remained divided in terms of its future growth prospects.

First Solar (FSLR) stock is trading at a forward EV-to-EBITDA multiple of 4x based on analysts’ earnings estimates for 2019.

In 3Q16, Yingli Solar (YGE) posted nearly $218.9 million in total revenues. Analysts estimate that it will report ~$242 million in revenues in 3Q17.

Currently, only one analyst is covering Yingli Solar (YGE) stock. The analyst gave the company a “sell” (or 100%) rating.

Yingli Solar will announce its 3Q17 earnings results on December 6 before market hours. Since its 2Q17 earnings, its stock price has fallen nearly 13.1%.

Canadian Solar (CSIQ) reported its 3Q17 earnings results on November 9. CSIQ declared earnings per share of $0.22, slightly below the analyst consensus estimate of $0.26.

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 reported $75.1 million in consolidated revenue for 3Q17 compared to $73.0 million in 2Q17 and $41.3 million 3Q16.

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.

Vivint Solar posted $75.1 million in revenues in 3Q17, up by 82% on a YoY (year-over-year) basis.

SunPower (SPWR) reports its revenue under the power plant, residential, and commercial segments. The latter two segments are together called the distributed generation segments.

SunPower (SPWR) announced its 3Q17 earnings before market hours on November 2. In this series, we’ll examine SunPower’s 3Q17 results in detail and compare the results with analysts’ estimates.

Debt profile As of December 31, 2016, First Solar (FSLR) had total debt of $188.4 million, lower than its debt of $289 million at the end of 2015. The company’s debt is denominated in various currencies, including the US dollar, Malaysian ringgit, and euros. Credit metrics With a net worth of over $5 billion and $555.8 […]

Pre-tax loss First Solar’s (FSLR) pretax loss in 2016 was $471.7 million, compared with a profit of $519.8 million in 2015. The loss could be attributed to the huge $729 million restructuring pre-tax charges faced by the company in the fourth quarter of 2016. Net loss in 2016 First Solar reported a net loss of $358.0 […]

Cost of sales First Solar’s (FSLR) Components segment saw its cost of sales rise 6% to $1.1 billion in fiscal 2016, from $1.0 billion in fiscal 2015. On the other hand, despite higher volumes, the Systems segment’s cost of sales fell 29% to $1.1 billion in fiscal 2016 from $1.6 billion in fiscal 2015. Overall, the company’s cost […]

SunPower expects to incur about $225 million–$275 million in restructuring charges as part of closing its Philippine-based Fab 2 manufacturing facility.

The market cheered SunPower’s restructuring initiatives. The initiatives are expected to reduce the company’s costs and improve its future margins.

Yingli (or Yingli Solar) (YGE) is set to announce its 3Q16 earnings on December 8, 2016. In this series, we’ll look at analysts’ expectations for Yingli Solar’s 3Q16 earnings.

Trina Solar (TSL) announced its 3Q16 earnings results before market hours on November 23, 2016. In this series, we’ll take a look at the results and compare them with analysts’ expectations.

In October, Tesla unveiled the second version of the Powerwall and Powerpack. The second version comes with higher energy storage capacity.

Following its 3Q16 results, Canadian Solar revised down its US GAAP revenue guidance for 2016 to $2.8 billion–$2.9 billion.

On November 16, 2016, First Solar (FSLR) announced an update on its Series 6 product transition and revised its fiscal 2016 guidance.

Canadian Solar’s interest expenses fell considerably in 2Q16 to $11.9 million from $16.1 million at the end of 1Q16.

Canadian Solar (CSIQ) is set to announce its 3Q16 earnings results on November 21, 2016, before market hours.

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.

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.

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.

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 (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.

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.

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.

SolarCity’s interest expenses have risen more than fourfold in the last two years.

In this article, we’ll go through the rationale behind GE’s planned acquisition of LM Wind Power. According to the GWEC, worldwide wind capacity is expected to nearly double in the next five years.

Among major upstream solar companies, First Solar (FSLR) has the lowest estimated EV-to-EBITDA multiple of 3.9x for 2016. This is followed by Trina Solar’s (TSL) estimated multiple of 6.9x.

Analysts anticipate a decrease in gross profit and gross margin for Trina Solar. For the coming quarter, analysts anticipate that the company will report about $145 million in gross profit, which would be a ~18% decrease on a quarter-over-quarter basis.

SolarCity (SCTY) reported $123 million in 1Q16 revenue against analysts’ consensus estimate of $113 million.

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.

ITCs (investment tax credits) are dollar-for-dollar reductions on income taxes. These apply to the residential and commercial deployment of solar systems.

SolarCity’s business is divided into two segments: Operating Leases and Solar Energy Systems Incentives and Solar Energy Systems and Component Sales.

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.

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.

Vivint Solar intends to expand its presence in existing solar markets and penetrate into new markets by leveraging its brand presence and customer base.

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.

Vivint Solar’s business model is divided into two revenue segments: Operating Leases and Incentives and Solar Energy Systems and Product Sales.

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.

In February 2014, Sunrun (RUN) acquired the residential business of REC Solar, AEE Solar, and SnapNrack from Mainstream Energy Corporation for $78.8 million.

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).

Vivint Solar’s estimated nominal contracted payments remaining increased by $251.4 million during 4Q15, compared to $214 million during 3Q15.

The Clean Power Plan could set a bigger stage for renewable energy in the energy mix of the United States. Renewable energy could outweigh energy from all fossil fuels combined by 2040.

SunEdison (SUNE) has two publicly traded subsidiaries. It offers us the opportunity to analyze each company separately, aiding our quest for value.

With 3Q15 earnings season over and all eyes shifted to 4Q15 and beyond, we’re taking an opportunity to update our readers on the 3Q15 earnings of all major American solar companies.

The CPP (Clean Power Plan) is the first major nationwide initiative proposed by the EPA as a step towards a cleaner environment.

FirstSolar (FSLR) expects to generate $3.5 billion to $3.6 billion in revenues in 2015. This implies that its revenues in 2H15 should come in at around $2.2 billion.

SunPower reported cash and cash equivalents of $623 million as of June 29, 2015, as opposed to $956.2 as of December 28, 2014.