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Sunnova Energy International (NOVA)
NYSE:NOVA
RESEARCH TOOLSreports
Earnings Data
Report Date
Mar 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.66Last Year’s EPS
-1.53Same Quarter Last Year
Based on 16 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 03, 2025
|% Change Since: -64.46%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mix of operational successes and financial challenges. While Sunnova achieved significant improvements in operational efficiency and revenue growth, it faced substantial hurdles with cash generation, market conditions, and debt maturities. The removal of future guidance and the going concern notice highlight ongoing uncertainties.Company Guidance
During the earnings call, Sunnova provided guidance with several key metrics that highlighted their strategic adjustments and financial performance for 2024. They reported a 17% increase in revenue to $840 million and a 29% rise in interest income to $150 million. Principal proceeds from solar loans grew by 21% to $191 million. Sunnova's cumulative customer base expanded by 5%, driven by a 70% growth in solar customers, despite a reduction of 57,000 non-solar customers. They achieved a 24% reduction in net service expense per customer and a 12% reduction in work orders while decreasing the average age of a work order by 83%. The company also significantly increased their asset-level financing by securitizing $1.8 billion worth of solar assets and raising $1.3 billion in tax equity. Although their net contracted customer value per share decreased by 4% to $24.22, Sunnova's stockholders' equity per share rose by 17% to $14.65. They executed seven securitizations totaling an additional $613 million in 2024 and increased their tax equity usage by 37%. Sunnova implemented cost-saving measures, including a 30% reduction in total headcount since the end of 2023, contributing to an estimated annual cash savings of approximately $70 million. Despite challenges, such as political uncertainty and capital market pressures, Sunnova remains focused on margin over growth, asset-level funding, and addressing their 2026 corporate debt maturities by mid-2025.Operational Efficiency Improvements
Reduction in net service expense by 24% per customer, reduction in work orders opened by 12%, and reduction in average age of work orders by 83%.
Customer and Revenue Growth
17% increase in revenue to $840 million, 29% increase in interest income, and 21% growth in principal proceeds from solar loans.
Record Asset-Level Financing
Securitized $1.8 billion worth of solar assets, raised $1.3 billion of tax equity, generating over $1 billion more in asset-level financing compared to the prior year.
Increased Battery Adoption
Battery attachment rate reached 33% in Q4 2024, up from 24% in Q4 2023.
Stockholders' Equity Growth
Sunnova's stockholders' equity per share increased by 17% to $14.65.
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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 |
|---|---|---|---|
| Mar 03, 2025 | $1.66 | $0.59 | -64.46% |
| 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% |
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 Mar 03, 2025, TBA Not Confirmed.
What is Sunnova Energy International (NOVA) earnings time?
Sunnova Energy International (NOVA) earnings time is at Mar 03, 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 -0.66.
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