Scalper1 News
No. 2 residential installer Sunrun ( RUN ) will join top rivals SolarCity ( SCTY ) and Vivint Solar ( VSLR ) in posting a wider loss in Q1, according to the consensus of eight analysts polled by Thomson Reuters. Sunrun stock closed flat Wednesday, at 6.37, ahead of its Q1 earnings out after the close Thursday. Shares are down 46% for the year, where IBD’s 20-company Energy-Solar industry group is down 41.5%. The group ranks a low No. 170, out of 197 groups tracked. For Q1, Sunrun is expected to report $87.7 million in sales, down 12% sequentially, and a 48-cent per-share loss minus items, widening from a 15-cent loss in the previous quarter. Three months ago, Sunrun guided to 56 megawatts in Q1 deployments, down 18% quarter over quarter. The guide excludes a 12 MW backlog after Sunrun pulled its Nevada operations on regulators’ decision to cut net-metering payments to solar customers. SolarCity also pulled its Nevada operations which, the company says, accounted for about 20 MW in quarterly installations. On Monday, SolarCity cut its 2016 installation guidance, citing slow Q1 bookings related to exiting Nevada. Scalper1 News
Scalper1 News