#Solar #Stock Earnings
Shine - (OTCQB: $SING) (NYSE: $VSLR) (NASDAQ: $SEDG) (NASDAQ: $RUN)
Singling out the Winners in the Solar
Revolution
Point Roberts WA,
Delta BC – November 14, 2019 - Investorideas.com, a leading investor
news resource covering solar stocks releases a sector snapshot looking at solar company earnings and the
anticipated growth in the sector, featuring news from Direct Solar of
America, a subsidiary of Singlepoint Inc. (OTCQB: SING).
Other solar stocks included in this earnings snapshot
include; Vivint Solar Inc. (NYSE: VSLR), SolarEdge
Technologies, Inc. (NASDAQ: SEDG) and Sunrun Inc. (NASDAQ: RUN).
Solar companies are facing the challenges and the
opportunities in a market that is witness to growing demands due to climate
change, a next generation of residential consumers that are pro- solar, new
technology disruption and pricing that, for the first time is competitive to
fossil fuels.
Read
this in full at https://www.investorideas.com/news/2019/renewable-energy/11141Solar-SING-VSLR-SEDG-RUN.asp
According to a recent report by the IEA (https://www.iea.org/), ‘Global solar PV market set for spectacular
growth over next 5 years,’ “The installation of solar PV systems
on homes, commercial buildings and industrial facilities is set to take off
over the next five years, transforming the way electricity is generated and
consumed, according to the International Energy Agency’s latest renewable
energy market forecast.”
“The report forecasts
that the world’s total renewable-based power capacity will grow by 50% between
2019 and 2024. This increase of 1,200 gigawatts – equivalent to the current
total power capacity of the United States – is driven by cost reductions and
concerted government policy efforts. Solar PV accounts for 60% of the rise. The
share of renewables in global power generation is set to rise from 26% today to
30% in 2024.”
Fairly new to
the solar industry and investors following the sector, emerging company Singlepoint Inc. (OTCQB: SING) saw the growing opportunity in
solar and acquired Direct
Solar of America. Singlepoint
Inc. just reported record Third Quarter 2019 Financial Results. The Company reported
revenues of $1,050,374 for the three months ended September 30, 2019, a 176%
increase over the same period in 2018. The Company said in the release, “The
Company’s most recent acquisition, Direct Solar, continues to exceed revenue
growth targets and has been pivotal to improving the Company’s financials.”
“This has been a
great quarter for SinglePoint, we are very excited to see the growth of the
company. We are establishing solid financials and we anticipate a big fourth
quarter. Everything is firing on all cylinders and we continue to hit our
numbers. We believe SinglePoint’s revenues will continue to grow as our
subsidiary Direct Solar expanded into new markets,” states Greg Lambrecht, CEO of
SinglePoint.
Looking at future
growth, Direct Solar of America recently announced it signed a MOU with SchollyME. Direct Solar
and SchollyME will collaborate on marketing Direct Solar through the schools
that SchollyME is currently working with. The collaboration will put Direct
Solar into the high school programs as a partner with SchollyME. This marketing
strategy has already seen major success in driving new business for both
companies.
Direct Solar of America
is America’s Solar Energy Brokerage with more than 3,500 home installations,
which has enabled residential solar customers to shop for options in order to
find the best option for the home. Like Rocket Mortgage or Lending Tree, Direct
Solar representatives provide homeowners with a variety of financing and
service providers; this has made the process of buying solar much easier for
homeowners. Direct Solar is operational in eight states and continues to expand
its residential solar footprint. Direct Solar Commercial serves customers that
own and/or manage commercial properties. Along with Direct Solar Capital, an
alternative energy financing solution, commercial projects have access to
$50,000 to $3 million in funding for solar installations.
SolarEdge Technologies, Inc. (NASDAQ: SEDG), a global leader in smart energy, announced its financial results for the third quarter
ended September 30, 2019 last week and beat both earnings and revenue
expectations. The Company reported record revenues of
$410.6 million, up 26% from $325.0 million in the prior quarter and up 74% from
$236.6 million in the same quarter last year. Revenues related to the solar
business were $387.8 million, up 26% from $306.7 million in the prior quarter
and up 66% from $233.8 million in the same quarter last year.
On the company conference call, Zvi Lando,
SolarEdge Technologies, Inc.’s acting CEO & Executive VP of Global Sales
reported, ”I'm happy to report that once again, we concluded our quarter with
record revenues of $411 million, representing strong growth led by record
revenues in the US where we often see upswing in business in the second half of
the year and record revenues in Europe, where typically the third quarter is
not as strong due to summer holiday season. Similarly, we saw strength and
growth in most other region in which we operate. These revenues were based on
record quarter in our solar business of approximately $388 million. With this
record revenue, we have surpassed for the first time the milestone of $1
billion of revenues in a financial year, and this has been achieved through
just the first 3 quarters of 2019. This revenue growth, coupled with our gross
margin levels at the upper end of our guidance and increased operational
leverage has enabled us to generate record non-GAAP net income and a record net
diluted non-GAAP earnings per share of $1.21.”
“In the third
quarter, we shipped 1.5 gigawatts of AC nameplate inverters, approximately 598
megawatts of which shipped to North America, up from 430 megawatts shipped to
North America in the previous quarter. Shipments to Europe consisted of 712
megawatts, up from 658 megawatts shipped in the previous quarter. This quarter,
we shipped 543 megawatts of commercial products compared to 591 megawatts in
the previous quarter. This reduction is mainly a result of the higher demand in
the U.S. for residential products and prioritization of the manufacturing mix
in our production lines accordingly. This quarter, we shipped approximately 4.6
million power optimizers and approximately 188,000 inverters. All in all, we
have now shipped more than 45.4 million optimizers and 1.9 million inverters
since launching shipment of products in January of 2010.”
Solar panel
installation company, Vivint Solar Inc. (NYSE: VSLR) announced results for the
third quarter ending September 30, 2019 after market November 6th. Following the news,
the stock rose as
high as 11.6% in trading as it beat analyst revenue expectations. Installations
were 9,458 for the quarter, up 25% year-over-year. Cumulative installations
were 178,733. Revenue was $104 million, up 33% over the third quarter of 2018.
In the earnings call November 8th,
CEO David Bywater reported to shareholders, “We have continued to execute well,
installing 65 megawatts in the third quarter, which was at the high end of our
guidance. This represents 20% growth over the third quarter of last year and
18% growth year-to-date.”
“On a customer basis,
our growth was 25% year over year. Demand continues to be robust for
residential solar, and we believe we are well positioned for a strong finish to
the year, exceeding the 15% annual growth guidance we provided at the start of
the year. Our growth is coming across all of our channels, but it is strongest
in our inside sales, retail and homebuilder channels, which, in the third
quarter, represented 11% of our total volume, up 34% sequentially and 145% year
over year. This growth is beginning to scale.”
Sunrun Inc. (NASDAQ: RUN) the nation’s
leading residential solar, storage and energy services company issued its third quarter 2019 earnings report after the market
close, November 12, 2019. In the third
quarter of 2019, Megawatts Deployed increased to 107 MW from 100 MW in the
third quarter of 2018, a 7% year-over-year increase. Creation Cost per watt was
$3.28 in the third quarter of 2019, compared to $3.34 in the third quarter of
2018.
Total revenue grew to
$215.5 million in the third quarter of 2019, up $10.6 million, or 5% from the
third quarter of 2018.
Consumers looking at solar during the California blackouts
caused a reaction
in the market and the stock gained from new
interest
In the earnings
release the company noted, ““Millions are
suffering through forced blackouts as wildfires burn across California. We need
affordable, clean, reliable power now more than ever,” said Lynn Jurich,
Sunrun’s Chief Executive Officer and co-founder. “Sunrun has grown its customer base 24% from
last year, with more than 270,000 homes embracing local, clean energy. We
expect to increase cash generation by 60% to $100 million this year, while
investing in our leading customer acquisition capabilities and technology
platform.”
The solar sector
still has headwinds and some of the manufacturers released less than stellar
earnings. But for the sector overall, the trend is their friend and consumers
are demanding renewable energy options. Climate change marches globally are
becoming a weekly occurrence and the next generation of consumers are demanding
real solutions and a revolution, not just empty promises from governments.
“Renewables are
already the world's second largest source of electricity, but their deployment
still needs to accelerate if we are to achieve long-term climate, air quality
and energy access goals,” said Dr Fatih Birol, the IEA’s Executive
Director.
The sector is also being boosted by research funding to
meet future demands. Last week the US Department of Energy (DOE) announced selections for $128 million in new projects
to advance solar technologies. Through the Office of Energy Efficiency and
Renewable Energy’s Solar Energy Technologies Office, DOE will fund 75
innovative research projects that will lower solar electricity costs, while
working to boost solar manufacturing, reduce red tape, and make solar systems
more resilient against cyberattacks.
For investors
following solar stocks, Investor Ideas has created a stock
directory of renewable energy stocks
as part of its membership. Learn more https://www.investorideas.com/membership/
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