SolarCity Announces Second Quarter 2015 Financial Results
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July 30, 2015 6:45 AM EDT
Baird analyst Ben Kallo reiterated an Outperform rating and lifted his price target on SolarCity (NASDAQ: SCTY) to $73.00 (from $71.00) after what he called "one of the cleanest quarters we have seen since we initiated coverage of SCTY."
Kallo commented, "SCTY beat or met... More
July 29, 2015 4:27 PM EDT
SolarCity (NASDAQ: SCTY) reported Q2 EPS of ($0.23), $1.34 better than the analyst estimate of ($1.57). Revenue for the quarter came in at $102.8 million versus the consensus estimate of $90.16 million.
GAAP Operating Lease and Solar Energy Systems Incentive Revenue was $78.3 million, up 81% Y/Y, largely on the increase in cumulative MW Deployed under an Energy Contract. Solar Energy System Sales and Components Revenue was $24.5 million, including $8 million in MyPower solar loan revenue, which is recognized as customer monthly payments, as well as periodic rate reduction payments are received over the life of the 30-year contract.... More
