Vivint Solar Inc

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

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

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.

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.

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.

Since the release of SolarCity’s 2Q16 results, three of the 15 analysts covering the stock lowered their price targets.

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.

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

Overall, 2019 turned out to be volatile for solar stocks. However, there were some bright spots among broader markets last year.

Enphase Energy (ENPH) stock started off 2020 with a bang and surged more than 12% on January 2. Solar stocks also gained yesterday.

During Tesla’s Q3 call, Musk said that he thinks Tesla’s solar segment could be as big or even bigger than the company’s electric vehicle business.

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

Tesla (TSLA) CEO Elon Musk launched the company’s V3 Solar Roof last week. Musk expects its market size to be around 100 million homes worldwide.

Short-seller Citron Research noted that Generac Holdings could challenge solar microinverter makers Enphase Energy and SolarEdge’s duopoly.

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.

SunEdison (SUNEQ) announced the intent to acquire residential rooftop solar (TAN) power provider Vivint Solar (VSLR) on July 19, 2015. However, the market reacted negatively.

Factors that spearheaded SunEdison’s bankruptcy were leveraged acquisitions and the liquidity crisis.

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

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.

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.

Debt So far in this series, we’ve looked at operating metrics, liquidity, and fixed assets for SunEdison (SUNE) and its family, including TerraForm Power (TERP) and TerraForm Global (GLBL). Without discussing debt and related metrics, we can’t test the hypothesis in the series title properly. The most important reason for the recent fall in SunEdison’s […]

SunEdison’s leverage is a major concern among investors and analysts.

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.

SunPower (SPWR) reported total cost of revenues of $310.1 million in 2Q15, or 81% of revenues. In spite of reduced revenues, the company maintained its gross margin at 19% in 2Q15.