Fourth quarter revenue came in at $47.3 million. The company was expected to post a quarterly earnings per share (EPS) loss of $0.55 on revenues of $43.07 million. For the full year the consensus estimates call for an EPS loss of $1.79 on revenues of $159.69 million.
In its announcement on Monday SolarCity said it deployed 103 megawatts of new systems, which was above its estimate of 101 megawatts made at the end of the third quarter. Operating lease revenue came in at $22.4 million, slightly above the company’s estimated range of of $18 to $22 million.
For the current quarter SolarCity expects to deploy 78 to 82 megawatts. The company reaffirmed its full-year deployment guidance of 475 to 525 megawatts. SolarCity also said it expects to generate positive cash flow in 2014, and said it will provide detailed guidance next week.
The numbers that SolarCity published today are not bad, but holding the full report for a week due to accounting issues is never a good sign for investors.
Shares have not sunk as far as one might expect, down about 3.5% at $75.78 in after-hours trading. The stock’s 52-week range is $15.88 to $79.99.
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