Nyse Order Imbalance 34110.0 Shares On Sell Side

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 Q3, starting with EnerSys .

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 satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 5.8% while next quarter’s revenue guidance was in line.

While some renewable energy stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.3% since the latest earnings results.

EnerSys

Supplying batteries that power equipment as big as mining rigs, EnerSys manufactures various kinds of batteries for a range of industries.

EnerSys reported revenues of $951.3 million, up 7.6% year on year. This print exceeded analysts’ expectations by 6.9%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ sales volume estimates and EPS guidance for next quarter exceeding analysts’ expectations.

“Our strong performance in the quarter reflects solid execution and our commitment to continuous improvement and collaboration across the organization,” said Shawn O’Connell, President and Chief Executive Officer of EnerSys.

Interestingly, the stock is up 27.5% since reporting and currently trades at $161.69.

Best Q3: Bloom Energy

Working in stealth mode for eight years, Bloom Energy designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.

Bloom Energy reported revenues of $519 million, up 57.1% year on year, outperforming analysts’ expectations by 22.8%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 21% since reporting. It currently trades at $137.10.

Weakest Q3: Generac

With its name deriving from a combination of “generating” and “AC”, Generac offers generators and other power products for residential, industrial, and commercial use.

Generac reported revenues of $1.11 billion, down 5% year on year, falling short of analysts’ expectations by 6.6%. It was a disappointing quarter as it posted a miss of analysts’ Residential revenue estimates and a significant miss of analysts’ revenue estimates.

As expected, the stock is down 17.6% since the results and currently trades at $156.62.

Read our full analysis of Generac’s results here.

First Solar

Headquartered in Arizona, First Solar specializes in manufacturing solar panels and providing photovoltaic solar energy solutions.

First Solar reported revenues of $1.59 billion, up 79.7% year on year. This result was in line with analysts’ expectations. Taking a step back, it was a disappointing quarter as it produced full-year revenue guidance missing analysts’ expectations significantly and full-year EPS guidance missing analysts’ expectations significantly.

First Solar scored the fastest revenue growth among its peers. The stock is up 1.9% since reporting and currently trades at $238.04.

Read our full, actionable report on First Solar here, it’s free.

EVgo

Created through a settlement between NRG Energy and the California Public Utilities Commission, EVgo is a provider of electric vehicle charging solutions, operating fast charging stations across the United States.

EVgo reported revenues of $92.3 million, up 36.7% year on year. This number topped analysts’ expectations by 0.7%. It was a strong quarter as it also put up a beat of analysts’ EPS estimates and full-year EBITDA guidance exceeding analysts’ expectations.

EVgo delivered the highest full-year guidance raise among its peers. The stock is down 8.4% since reporting and currently trades at $3.13.

Read our full, actionable report on EVgo here, it’s free.