NYSE$NOVAQ
Sunnova Energy International Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Sunnova's financial performance remained relatively stable with revenue slightly decreasing, while incurring a significant net loss due to increased operating expenses and interest expenses.
Sunnova reported a slight decrease in revenue to $194.2 million, compared to $195.6 million in the same quarter of the previous year. The company faced a net loss of $234.8 million, a significant increase from the $62.0 million net loss in Q4 2022. Adjusted EBITDA, however, showed a substantial increase, reaching $191.5 million compared to $25.6 million in the prior year quarter, primarily due to investment tax credit sales.
- Deployed over 34,000 customers in Q4, bringing the total customer count to 419,200 as of December 31, 2023.
- Increased single customer economics through fully burdened unlevered return.
- Continued executing a cost reduction plan for 2024 to enhance cash generation.
- Initiated 2025 cash generation guidance between $200 million and $500 million.
Headline financials
Revenue & EPS history
Sunnova · Revenue · Quarterly
$194M
Forward guidance
Sunnova management reaffirms its 2024 full year guidance.
Tailwinds
- Customer additions between 185,000 and 195,000
- Adjusted EBITDA between $350 million and $450 million
- Interest income between $150 million and $190 million
- Principal proceeds from customer notes receivable, net of amounts recorded in revenue, and proceeds from investments in solar receivables between $210 million and $250 million
- Focus will be on cash generation driven by cost reductions, asset sales, and expanding margins.
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 Q4 2023
+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 | — | — | — |
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