The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how renewable energy stocks fared in Q4, starting with EVgo (NASDAQ: EVGO).
Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.
The 17 renewable energy stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 4.6% while next quarter’s revenue guidance was 0.6% above.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7% since the latest earnings results.
EVgo (NASDAQ: EVGO)
Created through a settlement between NRG Energy and the California Public Utilities Commission, EVgo (NASDAQ: EVGO) is a provider of electric vehicle charging solutions, operating fast charging stations across the United States.
EVgo reported revenues of $67.51 million, up 35% year on year. This print fell short of analysts’ expectations by 2.2%, but it was still a satisfactory quarter for the company with a solid beat of analysts’ EPS estimates.
The stock is up 5.7% since reporting and currently trades at $2.59.
Is now the time to buy EVgo? Access our full analysis of the earnings results here, it’s free.
Best Q4: Bloom Energy (NYSE: BE)
Working in stealth mode for eight years, Bloom Energy (NYSE: BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.
Bloom Energy reported revenues of $572.4 million, up 60.4% year on year, outperforming analysts’ expectations by 12.8%. The business had an incredible quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Bloom Energy achieved the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 5.4% since reporting. It currently trades at $24.25.
Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: TPI Composites (NASDAQ: TPIC)
Founded in 1968, TPI Composites (NASDAQ: TPIC) manufactures composite wind turbine blades and provides related precision molding and assembly systems.
TPI Composites reported revenues of $346.5 million, up 16.7% year on year, falling short of analysts’ expectations by 5%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations.
As expected, the stock is down 21.1% since the results and currently trades at $1.14.
Read our full analysis of TPI Composites’s results here.
Shoals (NASDAQ: SHLS)
Started in Huntsville, Alabama, Shoals (NASDAQ: SHLS) designs and manufactures products that make solar energy systems work more efficiently.
Shoals reported revenues of $107 million, down 18% year on year. This result beat analysts’ expectations by 4.9%. Taking a step back, it was a slower quarter as it logged full-year EBITDA guidance missing analysts’ expectations and a significant miss of analysts’ EPS estimates.
The stock is down 27.6% since reporting and currently trades at $3.25.
Read our full, actionable report on Shoals here, it’s free.
American Superconductor (NASDAQ: AMSC)
Founded in 1987, American Superconductor (NASDAQ: AMSC) has shifted from superconductor research to developing power systems, adapting to changing energy grid needs and naval technology requirements.
American Superconductor reported revenues of $61.4 million, up 56% year on year. This print topped analysts’ expectations by 8.4%. Overall, it was an exceptional quarter as it also put up an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
The stock is down 22.9% since reporting and currently trades at $19.74.
Read our full, actionable report on American Superconductor here, it’s free.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
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