August 8 (Solar) – US residential solar company Vivint Solar (NYSE:VSLR) on Tuesday said it installed 47 MW in the second quarter of 2018, close to the upper end of its guidance of 45 MW-48 MW.
The company booked 64 MW in the period and expects installations to reach 51 MW to 54 MW in the third quarter of the year.
Total revenue rose 11% year-over-year to USD 80.8 million (EUR 69.7m), while net profit grew 264% to USD 18.1 million.
Vivint Solar increased its estimated retained value by USD 112 million during the quarter to around USD 1.8 billion.
Cost per watt declined to USD 3.11 from USD 3.15 in the preceding quarter, while rising from USD 2.88 in the year-ago period. The company expects cost per watt to climb to between USD 3.15 and USD 3.23 in the third quarter.
|in USD millions||Q2 2018||Q2 2017||H1 2018||H1 2017|
|– Operating leases and incentives||54.8||43.4||85.9||73.8|
|– Solar energy system and product sales||26||29.6||63.2||52.3|
|Loss from Operations||(16.1)||(14.3)||(44.2)||(45.4)|
|Net income available to common stockholders||18.1||5||5.1||18.3|
(USD 1 = EUR 0.862)