SolarCity Corp (NASDAQ:SCTY) is expected to report its earnings numbers for the three months through September 2013 this afternoon after the market closed on Wall Street. The company showed a loss per share of 43 cents for the third quarter of the year on revenue totaling $48.6 million. On today’s market shares in the company trended strongly down and finished the day at $59.65.
In the run-up to the release of this earnings report, analysts following SolarCity Corp (NASDAQ:SCTY) were looking for a loss per share of 44 cents for the third quarter of the year. The company only went public at the end of 2012, so there is little performance history for investors and analysts to go on.
SolarCity earnings
This is the first third quarter that SolarCity Corp (NASDAQ:SCTY) has had to report earnings for since the company went public. The company has lost money in each of the quarters it has released since its IPO, and the company is expected to lose a grand total of $1.72 per share for the full year 2013. Last year the company lost $5.22 per share.
One of the most important indicators for SolarCity Corp (NASDAQ:SCTY) is the energy capacity the company has managed to install in any given quarter. The firm’s earnings are depressed at the moment as it tries to invest in growth. Investors want to see the company’s ability to deploy energy production facilities and the demand for its services.
SolarCity Corp (NASDAQ:SCTY) shares have been on an incredible run in 2013. The firm’s shares have increased by around 400% through the year so far. The increase results stem from a boom across the solar industry, a general rise in the stock market, and the company’s connection with Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk.
Musk helped to found Solar City and lead it through its public offering last year. The tech luminary still holds a position as Chairman of the company’s board. His influence on the companies he is involved in cannot be overstated, and the market has become a massive fan of his management style in 2013.
SolarCity Corp (NASDAQ:SCTY) executives will host an earnings call in order to discuss this afternoon’s results at 5:00 PM EST. Investors will be looking to hear about the company’s guidance for the rest of the year, and management’s opinion on strategy options for 2013.
