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Sunnova(NOVA) - 2022 Q4 - Earnings Call Presentation
2023-02-28 19:53
Financial Performance - Full year 2022 revenue was $558 million[17,33] - Adjusted EBITDA for 2022 was $119 million[19] - Adjusted Operating Cash Flow for 2022 was $92 million[19] - Recurring Operating Cash Flow for 2022 was $18 million[25] Customer Growth - Sunnova added 87300 customers in 2022[18] - Total customers as of December 31, 2022 reached 279400[26] - Customer additions increased by 62% in 2022[28] Dealer Network - Sunnova had 1116 dealers, sub-dealers, and new homes installers as of December 31, 2022[29,91] - 302 dealers, sub-dealers, and new homes installers were added in 2022[29] - The company exceeded its year-end target for dealers, sub-dealers, and new homes installers by 12%[29] Contracted Customer Value - Gross Contracted Customer Value reached $5875 million as of December 31, 2022[6,47] - Net Contracted Customer Value reached $2300 million as of December 31, 2022[6,47] Other Metrics - The weighted average contract life remaining was 223 years as of December 31, 2022[30] - Battery attachment rate on origination equaled 22% in Q4 2022[28]
Sunnova(NOVA) - 2022 Q4 - Earnings Call Transcript
2023-02-23 18:27
Sunnova Energy International Inc. (NYSE:NOVA) Q4 2022 Results Conference Call February 23, 2023 8:00 AM ET Company Participants Rodney McMahan - Vice President of Investor Relations William Berger - Chairman and Chief Executive Officer Robert Lane - Executive Vice President and Chief Financial Officer Conference Call Participants Philip Shen - ROTH Capital Julien Dumoulin-Smith - Bank of America Brian Lee - Goldman Sachs Mark Strouse - JP Morgan Corinne Blanchard - Deutsche Bank Maheep Mandloi - Cr??dit Sui ...
Sunnova(NOVA) - 2022 Q4 - Annual Report
2023-02-22 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________________ FORM 10-K ______________________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...
Sunnova(NOVA) - 2022 Q3 - Earnings Call Transcript
2022-10-27 21:41
Sunnova Energy International, Inc. (NYSE:NOVA) Q3 2022 Earnings Conference Call October 27, 2022 8:00 AM ET Company Participants Rodney McMahan - VP, IR William Berger - Chairman, President & CEO Robert Lane - EVP & CFO Conference Call Participants Philip Shen - ROTH Capital Partners Julien Dumoulin-Smith - Bank of America Merrill Lynch Maheep Mandloi - Cr??dit Suisse Sophie Karp - KeyBanc Capital Markets David Peters - Wolfe Research Sean Morgan - Evercore ISI Pavel Molchanov - Raymond James & Associates J ...
Sunnova(NOVA) - 2022 Q3 - Quarterly Report
2022-10-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 10-Q _______________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...
Sunnova(NOVA) - 2022 Q2 - Earnings Call Transcript
2022-07-28 21:00
Sunnova Energy International Inc. (NYSE:NOVA) Q2 2022 Earnings Conference Call July 28, 2022 8:00 AM ET Company Participants Rodney McMahan - Vice President, Investor Relations John Berger - Chairman & Chief Executive Officer Robert Lane - Executive Vice President & Chief Financial Officer. Conference Call Participants Mark Strouse - JPMorgan Philip Shen - ROTH Capital Julien Dumoulin-Smith - Bank of America Maheep Mandloi - Credit Suisse Ben Kallo - Baird Sophie Karp - KeyBanc Pavel Molchanov - Raymond Jam ...
Sunnova(NOVA) - 2022 Q2 - Earnings Call Presentation
2022-07-28 18:34
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------|-------|----------|-------|---------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Second Quarter | | | | July 27, 2022 | | | | | | | 2022 | | Earnings | | | | | | | | | | | | | | | | | | | Legal Disclaimer This presentation and the accompanying oral presentations contain fo ...
Sunnova(NOVA) - 2022 Q2 - Quarterly Report
2022-07-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 10-Q _______________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...
Sunnova(NOVA) - 2022 Q1 - Earnings Call Transcript
2022-04-28 22:10
Financial Data and Key Metrics Changes - The company reported strong first quarter results, exceeding the expected 12% of full-year 2022 Adjusted EBITDA, with actual results ahead of that goal [8] - Total liquidity as of March 31, 2022, was $703 million, down from $831 million as of December 31, 2021, but up from $276 million as of March 31, 2021 [23] - The weighted average contract life remaining on customer contracts was 22.3 years, with expected cash inflows over the next twelve months increasing to $403 million [16] Business Line Data and Key Metrics Changes - The company added approximately 15,300 customers in Q1 2022, a 74% increase compared to the same period last year, and expects to meet full-year guidance of 85,000 to 89,000 customer additions [9] - Battery penetration rate reached 12.5% as of March 31, 2022, with a battery attachment rate on origination of 19% [14] - The Net Contracted Customer Value (NCCV) per customer was nearly $10,800 as of March 31, 2022, with a target of $18,000 to $20,000 by the end of 2025 [10] Market Data and Key Metrics Changes - The company is experiencing increased demand for energy services beyond solar, including batteries, electric vehicle charging, and generators [10] - The company has secured over $1.1 billion in firm contracts for equipment, which will not show up on the balance sheet [48][95] Company Strategy and Development Direction - The company aims to provide affordable, reliable, and sustainable energy, focusing on a combination of service, software, and aggregation to distinguish itself from competitors [37] - The Sunnova Adaptive Home concept integrates various energy services, positioning the company for future growth [41] - The company is committed to enhancing its ESG strategy and reporting, with a goal to offset 52 million metric tons of CO2 by year-end 2023 [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in securing equipment and maintaining a strong position despite macroeconomic challenges [48] - The company anticipates continued improvement in returns and pricing strategies in response to rising utility rates and costs of capital [56][62] - Management emphasized the importance of cash flow per share and the ability to balance growth with shareholder returns [100] Other Important Information - The company has implemented new software to analyze customer data, resulting in a reduction of fewer than 3,000 customers from previous counts, ensuring a more accurate customer definition [11] - The company is focused on increasing cash flow per share by driving up value on a per-customer basis and growing its overall customer base [13] Q&A Session Summary Question: Impact of anti-circumvention case on business - Management indicated that they have stockpiled equipment and feel comfortable moving into 2023 regarding equipment availability [48][49] Question: Pricing strategy and increases - Management confirmed that they are constantly reviewing pricing and have already implemented price increases across the board, with room for further increases [66][70] Question: Financing and securitization strategy - Management stated that the ABS market remains attractive, and they are exploring various financing options while locking in favorable terms [81][82] Question: Balancing price increases against equipment costs - Management expects to see continued improvement in returns and has ample room to increase prices in response to rising utility rates [89][90]
Sunnova(NOVA) - 2022 Q1 - Earnings Call Presentation
2022-04-28 10:31
First Quarter 2022 Earnings April 27, 2022 Legal Disclaimer 2 This presentation and the accompanying oral presentations contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as " ...