real-time news and commentary for investors
Friday, Oct 11
SolarCity soars after reporting Q3 metrics, issuing strong guidance
- SolarCity (SCTY +17.4%) says its deployed 78MW of capacity in Q3, above guidance of 70MW-77MW. Cumulative energy contracts +33% Q/Q to 72.5K, estimated nominal contracted payments remaining from customers +23% Q/Q to $1.74B (was only +15% in Q2), and cumulative customers +28% Q/Q (also only +15% in Q2). (PR)
- The company still expects 278MW of 2013 deployments (raised from 270MW in August). But it's now guiding for 475MW-525MW of deployments in 2014 (up 71%-88% Y/Y). Analysts currently expect 2014 revenue growth of 60.5%.