NYSE$NOVAQ
Sunnova Energy International Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Sunnova's financial results for Q1 2024 were announced, revealing a decrease in revenue and a net loss, but also highlighted growth in customer base and adjusted EBITDA.
Sunnova reported a revenue of $160.9 million and a net loss of $90.1 million for Q1 2024. The company deployed 27,000 new customers, bringing the total to 438,500. Adjusted EBITDA increased to $46.4 million, driven by investment tax credit sales.
- Deployed 27,000 customers in Q1 2024, reaching a total of 438,500 customers as of March 31, 2024.
- Revenue decreased to $160.9 million, compared to $161.7 million in the same period last year.
- Net loss was $90.1 million, an improvement from the $110.3 million loss in Q1 2023.
- Adjusted EBITDA increased to $46.4 million, compared to $14.6 million in the prior year.
Headline financials
Revenue & EPS history
Sunnova · Revenue · Quarterly
$161M
Forward guidance
Sunnova lowered its guidance for customer additions but reaffirmed its guidance for Adjusted EBITDA, interest income, and principal proceeds from customer notes receivable.
Tailwinds
- Adjusted EBITDA between $350 million and $450 million.
- Interest income between $150 million and $190 million.
- Principal proceeds from customer notes receivable between $210 million and $250 million.
- Reaffirming guidance for Adjusted EBITDA.
- Reaffirming guidance for interest income.
Headwinds
- Lowering guidance for customer additions.
- Customer additions between 140,000 and 150,000.
- Re-focuses on its core adaptive energy customers.
- Variability in the timing of cash receipts and disbursements.
- Customer utilization of our assets.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q1 2024
+1.6%
Avg return
Earnings day
+1.7%
Avg return
5 days after
-2.4%
Avg return
30 days after
67%
16 / 24 earnings
Positive
+36.1%
Q2 2022
Best reaction
-64.2%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2025 | +0.0% | +0.0% | -99.8% | |
| Q4 2024 | -64.2% | -71.1% | -80.1% | |
| Q3 2024 | +16.1% | +25.2% | +3.4% | |
| Q2 2024 | +17.2% | +8.6% | +56.8% | |
| Q1 2024 | +5.0% | +11.0% | +24.0% | |
| Q4 2023 | -23.8% | -38.4% | -48.6% | |
| Q3 2023 | +9.1% | +2.9% | +19.8% | |
| Q2 2023 | -12.6% | -14.7% | -35.8% | |
| Q1 2023 | +1.9% | -3.4% | -7.6% | |
| Q4 2022 | +3.5% | +2.7% | -22.1% | |
| Q3 2022 | +9.6% | +8.8% | +37.3% | |
| Q2 2022 | +36.1% | +32.2% | +37.7% | |
| Q1 2022 | +7.1% | +10.7% | +15.0% | |
| Q4 2021 | +18.9% | +32.7% | +63.4% | |
| Q3 2021 | +13.3% | +12.5% | -6.6% | |
| Q2 2021 | +8.1% | +6.6% | +5.6% | |
| Q1 2021 | -7.9% | — | — | |
| Q4 2020 | -1.8% | — | — | |
| Q3 2020 | -2.6% | — | — | |
| Q2 2020 | +3.6% | — | — | |
| Q1 2020 | +7.5% | — | — | |
| Q4 2019 | +0.4% | — | — | |
| Q3 2019 | +0.6% | — | — | |
| Q2 2019 | -6.2% | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — |
Discussion
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