Earnings results often indicate what direction a company will take in the months ahead. With Q4 behind us, let’s have a look at First Solar (NASDAQ:FSLR) and its peers.
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 8.4% since the latest earnings results.
Headquartered in Arizona, First Solar (NASDAQ:FSLR) specializes in manufacturing solar panels and providing photovoltaic solar energy solutions.
First Solar reported revenues of $1.51 billion, up 30.7% year on year. This print exceeded analysts’ expectations by 2%. Despite the top-line beat, it was still a softer quarter for the company with full-year EPS guidance missing analysts’ expectations.
“In 2024, we continued building the foundations required for our long-term growth strategy,” said Mark Widmar, chief executive officer, First Solar.
The stock is down 11.1% since reporting and currently trades at $130.80.
Is now the time to buy First Solar? Access our full analysis of the earnings results here, it’s free.
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 delivered 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 7.6% since reporting. It currently trades at $24.77.
Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free.
Founded in 1968, TPI Composites (NASDAQ:TPIC) manufactures composite wind turbine blades and provides related precision molding and assembly systems.
