2023-10-26 16:23:50 ET
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.
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Why Sunnova Energy's Shares Jumped 21.1% on Thursday