Why Sunnova Energy Stock Trounced the Market on Thursday
Thursday was an extremely sunny day for holders of Sunnova Energy International (NYSE: NOVA). Shares of the residential solar energy specialist leaped almost 28%, on the back of a well-received second-quarter earnings report. A big development on the U.S. political scene didn't hurt, either.
Sunnova released its quarterly results Thursday morning before market open. The company doubled its revenue and then some compared to the same quarter last year; the line item tallied over $147 million for the period, against less than $67 million in the second quarter of 2021. This was helped to no small degree by the addition of 17,300 customers, for a new count of roughly 225,000.
The bottom line showed a net loss of slightly under $10 million ($0.32 per share). That isn't inspiring in and of itself, but it's miles better than the over $66 million the company lost in the year-ago quarter.
Source Fool.com
