Clean Power

Published on May 10th, 2016 | by Joshua S Hill

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Vivint Solar Continues Decline With First Quarter Net Loss

May 10th, 2016 by  

After its fallout with SunEdison, Vivint Solar continued its overall decline, reporting a net loss this week of $31.2 million in its first quarter.

Earlier this year, in advance of SunEdison’s filing for bankruptcy, Vivint Solar and SunEdison parted ways on acquisition plans. Though Vivint Solar pledged legal action, Vivint Solar’s own financial situation was becoming more and more bleak. In March, when the company published unimpressive fourth quarter and full year 2015 earnings, analysts predicted a “bleak future” for the company.

vivintThose predictions have come to fruition already, as Vivint Solar reported a net loss of $31.2 million in the first quarter of 2016, with a per-share loss of $0.29. Adjusting for non-recurring gains, that loss grows to $0.65 per share.

Vivint Solar tried valiantly to dismiss this news in a press release announcing its quarterly earnings, highlighting instead a swathe of first quarter operating highlights, including a total of 66 MW worth of new bookings for the quarter, up 33% over the same period a year earlier. The company also installed approximately 55 MW in the quarter, up 19% over Q1’15, with individual installations amounting to 7,704 for the quarter, up 20%, and bringing cumulative installations to 76,231.

The company also saw increases in revenue, with Operating Leases and Incentives Revenue of $16.6 million, up 93% from $8.6 million in Q1’15. However, the company’s Cost of Revenue was up, as were its Total Operating Expenses.

Unsurprisingly, given the company’s relatively lackluster quarter, and its overall net loss, Vivint Solar’s shares tumbled. Although the company’s shares had already begun falling on Thursday, May 5th, in advance of the company’s Monday, May 9th earnings publication. Analysts have been predicting an unpromising quarter, and between Thursday and Monday, the company’s shares fell 16%.


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About the Author

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.



  • eveee

    Hi Josh. thanks for the article. Now we know who’s losing in solar. Who’s winning? Something is strange here. Is this in the mill already done stuff? Wonder what the ITC extension will do.

    • Robert Pollock

      What is going on? One story says solar is expanding so fast we’ll never keep up, and all the rest are about solar companies running through their financing like college kids on dad’s credit card. Do we have to wait for the capitalists to loot the place before we can make some progress?

      • eveee

        LOL. So you too, might have reservations about uber partnering with EV cos to polish it’s tarnished image. A brand new kind of greenwashing. IMO, capitalism is at the root of the problem. It’s the opposite of sustainability. But even more, it inevitably results in wealth imbalance. Everyone is aware of the excesses. Some got into solar of greed, but basically the market is unstable. Contrast that to a controlled market like China, where they can go to excess with coal, slam on the brakes, and do CSP with storage like no other country in the world. Seems like the problems run deep.
        IMO, capitalism is hiding exponential growth by reducing carbon intensity. Read, we pollute less but use more. Humankind has been doing that at every step of evolution from Roman plumbing to wood burning steam, to coal, oil, and now renewables.
        But renewables will only allow us to grow so much. Some of that growth has become the modernization of old things, the cannibalization of existing markets. Like iPads and iPhones replacing laptops, desktops, cellphones, watches, and anything that can be made into an app. While the growth of data and intelligence is real, there has to be something in the material world that must be dealt with.
        But all that leaves us with a dilemma. Who gets what and why. This is where existing culture and economics fails us. It’s not an economic question. It’s social, cultural, and ethical one. There is a reason poverty doesn’t change.mits what can be expected when there is a free for all for money in a compound interest world. As easy to predict as math or the game of monopoly. And just as drudgingly boring in outcome.

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