Sunnova Energy (NOVA) reported a quarterly loss of $1.11 per share in its latest earnings release, missing the Zacks Consensus Estimate by 35.37%. The company’s stock has lost about 51.6% since the beginning of the year, underperforming the S&P 500.
However, despite the recent losses, Sunnova Energy’s earnings outlook remains positive. The company has a favorable estimate revisions trend ahead of its next earnings release, translating to a Zacks Rank #2 (Buy). This suggests that the shares are expected to outperform the market in the near future.
For the coming quarter, the consensus EPS estimate is -$0.71 on $227.59 million in revenues, and for the current fiscal year, it’s -$2.19 on $1.05 billion in revenues. Investors should note that the outlook for the industry can impact the performance of individual stocks, as the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
In comparison, Canadian Solar (CSIQ) is expected to report quarterly loss of $0.21 per share in its upcoming report, down 950% from the year-ago quarter. Investors can track earnings estimate revisions and rely on rating tools like the Zacks Rank to make informed decisions.
Source: https://finance.yahoo.com/news/sunnova-energy-nova-reports-q4-123002675.html