Why Sunnova Energy's Shares Jumped 21.1% on Thursday
Shares of solar energy company Sunnova Energy International (NYSE: NOVA) jumped as much as 21.1% in trading on Thursday after the company reported third-quarter 2023 financial results that topped expectations. The stock closed up 16.3% today.
Revenue jumped to $198.4 million from $149.4 million a year ago and net loss attributable to shareholders was down slightly to $63.1 million, or $0.53 per share. But it was guidance that investors were most focused on today.
For the full year 2023, management expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to be $235 million to $255 million, which was affirmed from previous guidance. But in 2024 it expects adjusted EBITDA to jump to between $350 million and $450 million.
Source Fool.com
