Sunnova Energy International Inc. (NOVA) Tops Q2 EPS by 38c, provides guidance

Sunnova Energy International Inc. (NYSE: NOVA) reported Q2 EPS of ($0.27), $0.38 better than the analyst estimate of ($0.65). Revenue for the quarter came in at $219.6 million versus the consensus estimate of $220.38 million.

2024 Full Year Guidance

As Sunnova continues to refocus on its higher margin core adaptive energy customers it now expects full year 2024 customer additions to fall between 110,000 and 120,000.

Adjusted EBITDA is expected to fall between $650 million and $750 million to account for a greater contribution from investment tax credit sales and an increase in expected lease and PPA revenues coupled with lower operating expenses.

Interest income and the principal proceeds from customer notes receivable, net of amounts recorded in revenue, and proceeds from investments in solar receivables are expected to fall between $115 million and $125 million and $180 million and $190 million, respectively. This update is driven by the recent sale of non-solar loans and a quicker-than-expected move to leases and PPAs.

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

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