Wrapping up Q3 earnings, we look at the numbers and key takeaways for the renewable energy stocks, including Nextpower (NASDAQ: NXT) and its peers.

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 17 renewable energy stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 5.8% while next quarter’s revenue guidance was in line.

While some renewable energy stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3% since the latest earnings results.

Nextpower (NASDAQ: NXT)

With its technology playing a key role in the massive 1.2 gigawatt Noor Abu Dhabi solar farm project, Nextpower (NASDAQ: NXT) is a provider of solar tracker systems that help solar panels follow the sun.

Nextpower reported revenues of $905.3 million, up 42.4% year on year. This print exceeded analysts’ expectations by 8.6%. Overall, it was a strong quarter for the company with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Nextpower delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 5.3% since reporting and currently trades at $95.21.

Read why we think that Nextpower is one of the best renewable energy stocks, our full report is free.

Best Q3: Bloom Energy (NYSE: BE)

Working in stealth mode for eight years, Bloom Energy (NYSE: BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.

Bloom Energy reported revenues of $519 million, up 57.1% year on year, outperforming analysts’ expectations by 22.8%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 17.4% since reporting. It currently trades at $133.00.

Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Generac (NYSE: GNRC)

With its name deriving from a combination of “generating” and “AC”, Generac (NYSE: GNRC) offers generators and other power products for residential, industrial, and commercial use.

Generac reported revenues of $1.11 billion, down 5% year on year, falling short of analysts’ expectations by 6.6%. It was a disappointing quarter as it posted a miss of analysts’ Residential revenue estimates and a significant miss of analysts’ revenue estimates.

As expected, the stock is down 16% since the results and currently trades at $159.80.

Read our full analysis of Generac’s results here.

First Solar (NASDAQ: FSLR)

Headquartered in Arizona, First Solar (NASDAQ: FSLR) specializes in manufacturing solar panels and providing photovoltaic solar energy solutions.

First Solar reported revenues of $1.59 billion, up 79.7% year on year. This print met analysts’ expectations. Taking a step back, it was a disappointing quarter as it logged full-year revenue guidance missing analysts’ expectations significantly and full-year EPS guidance missing analysts’ expectations significantly.

First Solar pulled off the fastest revenue growth among its peers. The stock is flat since reporting and currently trades at $234.76.

Read our full, actionable report on First Solar here, it’s free.

Blink Charging (NASDAQ: BLNK)

One of the first EV charging companies to go public, Blink Charging (NASDAQ: BLNK) is a manufacturer, owner, operator, and provider of electric vehicle charging equipment and networked EV charging services.

Blink Charging reported revenues of $27.03 million, up 7.3% year on year. This number missed analysts’ expectations by 9.6%. Taking a step back, it was a satisfactory quarter as it also logged an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ revenue estimates.

The stock is down 39.9% since reporting and currently trades at $0.91.

Read our full, actionable report on Blink Charging here, it’s free.

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