Vivint Solar (VSLR) Reports Q3 Loss of $0.99, Revenues Beat; Provides Q4 Operational Outlook

Vivint Solar (NYSE: VSLR) reported Q3 EPS of ($0.99), versus ($0.61) reported last year. Revenue for the quarter came in at $103.8 million versus the consensus estimate of $96.76 million.

Third Quarter 2019 Operating Highlights

Key operating and development highlights include:

• MW Installed of approximately 65 MWs for the quarter, up 20% year-over-year. Total cumulative MWs installed were approximately 1,228 MWs.
• 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.
• Estimated Gross Retained Value increased by approximately $74 million during the quarter to approximately $2.2 billion. Estimated Gross Retained Value per Watt at quarter end was $1.98.
• Cost per Watt was $3.48, a decrease from $3.56 in the second quarter of 2019 and an increase from $3.16 in the third quarter of 2018.
• Margin created was $69 million, a 23% increase from the third quarter of 2018. Unlevered NPV per Watt was $1.06.

Guidance for the Fourth Quarter 2019

The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements supersede all prior statements regarding projected 2019 financial results.

For the fourth quarter of 2019, Vivint Solar expects:

• MW Installed: 64 - 67 MWs
• Cost per Watt: $3.46 - $3.54
• NPV/W: $1.04 - $1.08

For earnings history and earnings-related data on Vivint Solar (VSLR) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Vivos Therapeutics posts 35% revenue gain but widens net loss
• Reading (RDI) Tops Q2 EPS by 4c