Sunnova Energy (NOVA) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release

Earnings Expectations - Sunnova Energy (NOVA) is expected to report a year-over-year increase in earnings driven by higher revenues for the quarter ended June 2024 [3] - The consensus EPS estimate for Sunnova has been revised 7.38% higher over the last 30 days, indicating a positive reassessment by analysts [5] - The company is projected to post a quarterly loss of $0.54 per share, reflecting a year-over-year change of +27% [24] Earnings Surprise Prediction - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate being more recent and potentially more accurate [2] - Sunnova's Most Accurate Estimate is lower than the Zacks Consensus Estimate, resulting in a negative Earnings ESP of -17.38%, suggesting bearish sentiment among analysts [23] - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a solid Zacks Rank [25] Historical Performance - Over the last four quarters, Sunnova has beaten consensus EPS estimates two times [11] - For the last reported quarter, Sunnova was expected to post a loss of $0.79 per share but delivered a loss of $0.57, resulting in a surprise of +27.85% [19] Industry Comparison - Among the stocks in the Zacks Solar industry, First Solar (FSLR) is expected to post earnings of $2.67 per share for the quarter ended June 2024, indicating a year-over-year change of +44.3% [13] - First Solar's revenue is expected to be $946.22 million, up 16.7% from the year-ago quarter [13] - The consensus EPS estimate for First Solar has been revised 0.7% higher over the last 30 days, with a positive Earnings ESP of 0.58% [21]