Pattern Energy Group reported a loss of 7 cents in second-quarter 2019 versus earnings of 34 cents per share in the year-ago quarter. The Zacks Consensus Estimate was pegged at earnings per share of 4 cents.
Total Revenues
Second-quarter revenues amounted to $140 million, which lagged the Zacks Consensus Estimate of $153 million by 8.5%. However, the total revenues were on par with the prior-year figure.
Quarterly Highlights
Pattern Energy sold 2,113,864 megawatt hours (MWh) of electricity on a proportional basis compared with 2,262,811 MWh in the year-ago quarter. The 7% decline was primarily caused by volume decreases attributed to divestitures in 2018 and unfavorable wind conditions.
Total operating expenses amounted to $15 million, reflecting a drop of 11.8% from the year-ago level.
The company incurred interest expenses of $25 million compared with $28 million in the year-ago quarter.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Pattern Energy Group reported a loss of 7 cents in second-quarter 2019 versus earnings of 34 cents per share in the year-ago quarter. The Zacks Consensus Estimate was pegged at earnings per share of 4 cents.
Total Revenues
Second-quarter revenues amounted to $140 million, which lagged the Zacks Consensus Estimate of $153 million by 8.5%. However, the total revenues were on par with the prior-year figure.
Quarterly Highlights
Pattern Energy sold 2,113,864 megawatt hours (MWh) of electricity on a proportional basis compared with 2,262,811 MWh in the year-ago quarter. The 7% decline was primarily caused by volume decreases attributed to divestitures in 2018 and unfavorable wind conditions.
Total operating expenses amounted to $15 million, reflecting a drop of 11.8% from the year-ago level.
The company incurred interest expenses of $25 million compared with $28 million in the year-ago quarter.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on XEL - FREE
Get the latest research report on DTE - FREE
Get the latest research report on CMS - FREE