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Sunnova Energy International (NOVA)
:NOVA
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.69Last Year’s EPS
-1.53Same Quarter Last Year
Moderate Buy
Based on 19 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2019
|% Change Since: -38.66%
|Next Earnings Date:Aug 19, 2019
Earnings Call Sentiment|Positive
The earnings call reflects a strong focus on customer additions and cash generation, with significant improvements in cost structure and ITC adder utilization. However, challenges remain in terms of dealer network issues and potential regulatory uncertainties. The sentiment is more positive due to the proactive measures to increase cash generation and operational efficiencies.Company Guidance
During the third quarter 2024 earnings call for Sunnova (NOVA), the company highlighted several key metrics and strategic priorities aimed at enhancing cash generation and operational efficiency. Sunnova added 76,600 customers year-to-date, with approximately 60,000 being solar customers. The company reported a substantial increase in tax capital, up 100% year-over-year, and emphasized the importance of maximizing asset-level capital generation through securitizations and tax capital commitments. They maintained an unrestricted cash balance of over $200 million, with expectations to generate at least $69 million more in unrestricted cash in 2024, reaching or exceeding their $100 million cash generation target. Furthermore, Sunnova's investment tax credit (ITC) adder utilization was up significantly, with a projected increase in the weighted average ITC rate to 42.2% in October, and a target of approximately 45% in 2025 and 2026. The company also noted a reduction in operations and maintenance expenses by 48% and a decrease in general and administrative expenses by 5%, with further reductions anticipated. Looking ahead, Sunnova reaffirmed its cash generation guidance, targeting $350 million in 2025 and $400 million in 2026, supported by continued cost efficiencies, higher-margin systems, and strategic capital market initiatives.Record Customer Additions
In the first 9 months of 2024, Sunnova added 76,600 customers, of which approximately 60,000 were solar customers.
Cash Generation Targets
Sunnova expects to generate at least an additional $69 million of unrestricted cash this year, aiming for their $100 million cash generation target for 2024.
Improved ITC Adder Utilization
The weighted average ITC rate increased by 17% to 42.2% in October, with an aim to reach approximately 45% in 2025 and 2026.
O&M and G&A Cost Reductions
Operational and maintenance expenses reduced by 48% and G&A by 5%, with further reductions expected in the fourth quarter.
Strong Revenue Growth
Revenue rose 19% year-over-year to $235 million, with interest income rising by 26%.
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NOVA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NOVA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $5.38 | $6.07 | +12.83% |
| Jul 31, 2024 | $7.07 | $8.30 | +17.40% |
| May 01, 2024 | $3.53 | $4.42 | +25.21% |
| Feb 21, 2024 | $11.69 | $8.57 | -26.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Sunnova Energy International (NOVA) report earnings?
Sunnova Energy International (NOVA) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Sunnova Energy International (NOVA) earnings time?
Sunnova Energy International (NOVA) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NOVA EPS forecast?
NOVA EPS forecast for the fiscal quarter 2024 (Q4) is -0.69.
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