Vivint Solar Inc (VSLR) Shares Fall on Company’s Q4 Results

Vivint Solar Inc (NYSE:VSLR) reported its fourth-quarter results after the bell Wednesday.

Vivint Solar Inc (VSLR)The company unveiled megawatts (MW) booked of approximately 55 MWs for the quarter, while its MW Installed figure came in at 45 MWs for the fourth quarter. Vivint Solar’s total cumulative MWs installed amounted to 865 MWs.

The solar energy provider’s installations for the period came in at 6,467, while its cumulative installations reached 126,830. Its Estimated Retained Value for the period was higher by approximately $80 million, reaching approximately $1.6 billion.

Vivint Solar’s Estimated Retained Value per Watt for the quarter was $2, while its Cost per Watt was $2.95, marking an increase of a penny from the $2.94 in the third quarter of 2017 and down from $3.08 in the fourth quarter of 2016.

As of the end of 2017, the company had $240 million in undrawn capacity in the aggregation facility, as well as roughly 17 MWs of available installation capacity remaining in its tax equity funds. Vivint Solar inked a deal subsequent to the end of the quarter in the form of a new tax equity partnership with a $75 million commitment that will help fund the installation of roughly 52 MWs.

The company also received $401 million of non-binding tax equity term sheets for five tax equity deals, which the company estimates will help it install roughly 265 MWs of residential solar energy systems.

VSLR stock fell more than 3.3% after the bell Wednesday on the news.

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