Sunnova Energy International Reports Quarterly Revenue of $161.7M, Exceeding Analyst Expectations

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Sunnova Energy International ($NYSE:NOVA), a leading residential solar and energy storage service provider, recently announced their quarterly financial results. Their reported GAAP EPS of -$0.70 was lower than analyst expectations by $0.11.

However, their revenue of $161.7M exceeded expectations by $2.16M. Sunnova Energy International is the largest independent rooftop solar and energy storage service provider in the United States. They have integrated proprietary technology with industry-leading practices to deliver best-in-class services to their customers. Sunnova also offers customers access to reliable solar energy sources, flexible financing options and an industry-leading warranty program. Sunnova Energy International’s revenue results reflect their commitment to providing top-notch services to their customers. They have demonstrated that they are positioned for long-term success as they continue to strive to bring the best solar and energy storage solutions to their customers. Their exceptional revenue results demonstrate their ability to meet customer demands and remain ahead of the competition.

Market Price

The company’s stock opened at $16.7, and closed at $16.3, dropping 8.5% from the previous closing price of $17.8. This marks the company’s second consecutive quarter of positive revenue growth and further cements its position as a leader in the solar energy industry. The increased revenue is attributed to strong demand for the company’s products and services, particularly its innovative solar rooftop solutions. Going forward, SUNNOVA ENERGY INTERNATIONAL is optimistic that its upward trend will continue, with plans to launch new projects and products in the coming months. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for NOVA. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for NOVA. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for NOVA. More…

Key Ratios Snapshot

Some of the financial key ratios for NOVA are shown below. More…

Analysis

At GoodWhale, we recently analyzed SUNNOVA ENERGY INTERNATIONAL’s financials. After our thorough review, we rated the company as a medium risk investment in regards to financial and business aspects. In our analysis, we detected 3 risk warnings in their balance sheet, cashflow statement, and financial journal. If you’d like to know more about these risks, simply register on GoodWhale.com and you’ll be able to access the full report. We have all the necessary information you need to make an informed decision. More…

Peers

Sunnova Energy International Inc is one of the leading solar panel manufacturers in the world. The company has a strong presence in the United States, Canada, Europe, and Asia. Sunnova has a wide range of products that cater to both residential and commercial customers. The company has a strong R&D team that constantly innovates and brings out new products to the market. Sunnova has a strong brand name and is known for its quality products. Sunnova’s main competitors are Canadian Solar Inc, Green Energy Group Inc, United Renewable Energy Co Ltd. These companies are also leading manufacturers of solar panels and have a strong presence in the global market.

– Canadian Solar Inc ($NASDAQ:CSIQ)

Canadian Solar Inc. is a renewable energy company that specializes in the design, development, manufacture, and sale of solar power products. The company has a market capitalization of $1.91 billion and a return on equity of 9.55%. Canadian Solar Inc. is headquartered in Guelph, Ontario, Canada.

– Green Energy Group Inc ($OTCPK:GRYG)

As of 2022, United Renewable Energy Co Ltd has a market cap of 34.65B and a Return on Equity of 2.02%. The company is engaged in the business of renewable energy, including the development, manufacture, and sale of solar cells, modules, and systems.

Summary

Sunnova Energy International reported quarterly financials that were mixed relative to market expectations. The company reported negative GAAP EPS of -$0.70, which was $0.11 lower than the consensus analyst estimate.

However, revenue of $161.7M was $2.16M greater than expected and positively impacted the stock price. Despite the positive revenue, investors took a dim view on the quarterly results and the stock price moved lower on the day of the announcement. Going forward, investors will be watching to see if Sunnova Energy International can improve their financial performance and restore investor confidence in the long-term prospects of the company.