UPDATE: SolarCity (SCTY) Tops Q4 Loss Views; Issues Q1, FY15 Outlook

(Updated - February 18, 2015 4:15 PM EST)

SolarCity (NASDAQ: SCTY) reported Q4 EPS of ($0.04), $1.23 better than the analyst estimate of ($1.27). Revenue for the quarter came in at $71.8 million versus the consensus estimate of $71.8 million.

Solid Q4 Growth Tops Off Record 2014
• MW Booked: 206 MW; an increase of 103% Y/Y
• MW Deployed: 176 MW total (up 70% Y/Y)

• Residential: 147 MW (Up 110% Y/Y)
• Commercial impacted Q4

• New Customers: 21,318
• Average Cost: $2.86 per watt down (9%) Y/Y with installation costs of $2.09 per watt

SolarCity sees Q1 EPS of ($1.75)-($1.65), versus the consensus of ($1.25). SCTY said, "With regard to Q1 2015 GAAP guidance, we expect Operating Lease and Solar Energy Systems Incentive Revenue of $47 million - $52 million with solar electricity production remaining lower in the winter months at the start of the year and a higher mix of deployments in the more wintry Northeast states leading to greater seasonality than we have experienced historically. Solar Energy System and Component Sale Revenue is expected to range between $6 million and $8 million."

The company also said, At the high end of our 2015 guidance, we would achieve our overarching goal to maintain our historical pace of roughly doubling MW every year. This would imply cumulative MW Deployed at the end of the year generating an annualized run rate of between 2.5 and 3.0 TWh of clean solar energy per year. While this would represent significant growth from ~0.25 TWh generated in 2012, our solar systems would still represent a small fraction of less than 0.1% of total U.S. electricity consumption of ~4,000 TWh per year.

For earnings history and earnings-related data on SolarCity (SCTY) click here.

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