Sunnova Energy International Inc. (NOVA) Misses Q2 EPS by 33c, Misses on Revenue; Offers Guidance

Sunnova Energy International Inc. (NYSE: NOVA) reported Q2 EPS of ($0.74), $0.33 worse than the analyst estimate of ($0.41). Revenue for the quarter came in at $166.4 million versus the consensus estimate of $197.57 million.

Sunnova management is increasing its 2023 full year guidance for customer additions and reaffirming for Adjusted EBITDA, interest income from customer notes receivable, and principal proceeds from customer notes receivable, net of amounts recorded in revenue, and proceeds from investments in solar receivables.

• Customer additions increases from between 125,000 and 135,000 to between 135,000 and 145,000;
• Adjusted EBITDA between $235 million and $255 million reaffirmed;
• Interest income from customer notes receivable between $110 million and $120 million reaffirmed; and
• Principal proceeds from customer notes receivable, net of amounts recorded in revenue, and proceeds from investments in solar receivables between $150 million and $190 million reaffirmed.

For earnings history and earnings-related data on Sunnova Energy International Inc. (NOVA) click here.

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