Vivint Solar, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Operational Guidance for the Second Quarter of 2017
Vivint Solar, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenue of $53,114,000 against $17,230,000 a year ago. Loss from operations was $31,054,000 against $94,618,000 a year ago. Loss before income taxes was $46,051,000 against $100,413,000 a year ago. Net income attributable to common stockholders was $13,292,000 against loss of $31,219,000 a year ago. Diluted earnings per share were $0.11 against loss of $0.29 a year ago. Net cash provided by operating activities was $3,398,000 against net cash used in operating activities of $60,489,000 a year ago. Payments for the cost of solar energy systems were $75,140,000 against $106,697,000 a year ago. Payments for property and equipment were $278,000 against $1,392,000 a year ago. Non-GAAP net loss was $55,452,000 or $0.50 per share against $68,961,000 or $0.65 per share a year ago.
For the second quarter of 2017, the company expects MW installed of 44 MWs to 48 MWs.