- Solar City (SCTY) Q2 misses on the bottom line on higher than anticipated losses.
- Residential megawatts deployed grew 144% Y/Y.
- Estimated nominal contracted payments up to $1.4B.
- Positive net cash flow of $19M.
- Cumulative Energy Contracts signed and outstanding increased 105% over the prior year to 54,650.
- Cumulative Customers grew to 64,411, up 97%.
- Looking forward, the company increases its EPS loss estimates for Q3, now anticipating an EPS loss of between $0.50 - $0.60, higher than analysts expectations for a $0.38 per share loss.
- Shares -7.6% AH.
More on Solar City earnings
Aug 7 2013, 16:49 ET