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Last $30.63 USD
Change Today +1.37 / 4.68%
Volume 2.0M
As of 12:25 PM 11/27/15 All times are local (Market data is delayed by at least 15 minutes).

solarcity corp (SCTY) Key Developments

SolarCity Corporation Announces Executive Changes

SolarCity Corporation announced that it has promoted Chief Operations Officer (COO) Tanguy Serra to the new role of President, reporting to CEO Lyndon Rive. The company also announced that CFO Brad Buss plans to retire in 2016. Buss will remain as CFO through the completion of SolarCity's financial reporting for the fiscal year 2015 expected in early February and will remain in an advisory role until later in 2016 to ensure a smooth transition. Mr. Serra will continue to oversee SolarCity's operations in his new role, and has assumed management of the company's structured finance, asset management and investor relations organizations. The company's global finance and accounting organizations will continue to report to Mr. Buss until his retirement in February. Mr. Serra brings a deep background in finance to his expanded role. Prior to joining SolarCity, he served as the first CEO of Vivint Solar, where he oversaw both finance and operations and was responsible for raising the company's tax equity funds.

SolarCity Corporation Reports Earnings Results for the Third Quarter Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015 and Installed Capacity Guidance for the Year 2016

SolarCity Corporation reported earnings results for the third quarter ended September 30, 2015. For the quarter, the company reported third quarter adjusted net loss of $2.10 per share, wider than the loss of $0.75 per share reported in the prior year period. Total revenue was $113,857,000 compared to $58,343,000 a year ago. Loss from operations was $191,071,000 compared to $74,340,000 a year ago. Loss before income taxes was $233,784,000 compared to $93,622,000 a year ago. Net loss was $234,266,000 compared to $70,116,000 a year ago. Net loss attributable to common stockholders was $19,073,000 or $0.20 per diluted share compared to net profit of $19,236,000 or $0.19 per diluted share a year ago. Net cash used in operating activities was $214,401,000 compared to $22,538,000 a year ago. Purchase of property, plant and equipment was $45,719,000 compared to $5,810,000 a year ago. For fourth quarter of 2015, the company expects operating lease and solar energy systems incentive revenue of $70 million - $76 million. Energy system and component sale revenue is expected to range between $30 million and $32 million. The company expects a fourth quarter of 2015 non-GAAP loss per share ranging between $2.60 and $2.75. The company introduced preliminary 2016 guidance of 1.25 GW Installed, representing year-over-year growth of approximately 41% as compared to the midpoint of 2015 guidance.

SolarCity Corporation to Report Q3, 2015 Results on Oct 29, 2015

SolarCity Corporation announced that they will report Q3, 2015 results at 2:00 PM, Pacific Standard Time on Oct 29, 2015

SolarCity Corporation, Q3 2015 Earnings Call, Oct 29, 2015

SolarCity Corporation, Q3 2015 Earnings Call, Oct 29, 2015

SolarCity Opens First Vermont Operations Center in Burlington

SolarCity has opened a new 13,000 square foot operations center in Burlington. The new facility is SolarCity's first operations center in the state, and the company expects to employ approximately 100 people at the center when fully staffed. SolarCity, which launched Vermont service in August, makes it possible for many Vermont homeowners to install solar with no upfront cost and pay as much as 20% less by going solar than they pay for utility power, with installation, production guarantee, monitoring and repair service included at no additional cost. The company's services are available to customers of Burlington Electric and Green Mountain Power.


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Solar Power Inc $1.87 USD 0.00
SunEdison Inc $3.28 USD +0.025
SunPower Corp $23.82 USD +0.07
Sunrun Inc $7.36 USD +0.61
Vivint Solar Inc $8.03 USD -0.04
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Price/Sales 8.0x
Price/Book 3.5x
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