Earnings Review and Free Research Report: TerraForm Power’s Q1 Results Outshined Forecasts
LONDON, UK / ACCESSWIRE / September 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on TerraForm Power, Inc. (NASDAQ: TERP), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TERP, following the Company's disclosure of its financial results on August 29, 2017, for the first quarter fiscal 2017 (Q1 FY17). The Bethesda, Maryland-based Company's quarterly revenue revenues were down 2% y-o-y. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TERP. With the links below you can directly download the report of your stock of interest free of charge at:
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Earnings Reviewed
During the quarter ended on March 31, 2017, TerraForm Power's operating revenues decreased to $151.13 million from $153.92 million recorded at the end of Q1 FY16. Meanwhile, the Company's adjusted revenue was $155.30 million in Q1 FY17 compared to $161.75 million in Q1 FY16.
The Company's net loss attributable to Class A common stockholders widened to $31.77 million, or $0.37 per diluted share, in Q1 FY17 from $0.48 million, or $0.01 loss per diluted share, in Q1 FY16.
Operational Metrics
The clean power generation Company's cost of operations was $34.34 million for Q1 FY17, up from $30.20 million in the prior year's corresponding quarter. The Company's general and administrative (G&A) expenses also increased to $36.73 million in Q1 FY17 from $17.18 million in the year-ago comparable quarter. Moreover, the Company reported operating income of $12.07 million during Q1 FY17 compared $32.51 million in Q1 FY16. Meanwhile, the Company's adjusted EBITDA stood at $108.59 million, or 69.9% of operating revenues, for Q1 FY17 compared to $120.43 million, or 74.5% of operating revenues in Q1 FY16.
The Company's total net nameplate capacity during the reported quarter was 2,981 MW compared to 2,977 MW in Q1 FY16. The Company's capacity factor was 30.6% during Q1 FY17 compared to 30.9% in the last year quarter. In Q1 FY17, total Gigawatt hours (GWh) sales were 2,032.0 versus 2,072.0 in Q1 FY17. Furthermore, the Company's adjusted revenue per MWh stood at $76 in Q1 FY17 compared to $78 in the year-ago same quarter.
Cash Flow & Balance Sheet
During first three months of FY17, TerraForm Power's net cash generated by operating activities were $35.23 million versus $35.27 million in FY16. At the close of books in the reported quarter, TerraForm Power had $676.77 million in cash and cash equivalents compared to $565.33 million at the close of books on December 31, 2016. The Company has long-term debt and financing lease obligations amounting to $1.81 billion as on March 31, 2017, compared to $1.74 billion as on December 31, 2016. Furthermore, estimated cash available for distribution for Q1 FY17 was $33.76 million compared to $61.49 million in Q1 FY16.
Stock Performance
At the closing bell, on Monday, September 18, 2017, TerraForm Power's stock rose 1.04%, ending the trading session at $13.55. A total volume of 377.48 thousand shares have exchanged hands, which was higher than the 3-month average volume of 337.12 thousand shares. The Company's stock price rallied 14.25% in the last three months, 8.40% in the past six months, and 3.83% in the previous twelve months. Moreover, the stock gained 5.78% since the start of the year. The stock currently has a market cap of $1.92 billion.
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