EnerNOC (ENOC) Reports Blow Out Quarter & First Profit But Guidance Weak, Shares Surge

EnerNOC has been saying for several quarters now that they are close to profitability and they sure entered the world of profitability with a bang after the bell today.  The company absolutely smashed Wall St estimates of .73/share by posting $1.30/share on revenues of $103 million.  Not only were they profitable but that revenue number is more than double the year ago quarter which was the previous best for the company.  Very impressive.. now let’s see how much of this quarter was already priced in by how the stock reacts in the coming days.  It’s up about 7% in after hours trading, so traders certainly expected a great quarter, but not this great.  In my opinion, the stock has gotten ahead of itself a bit and needs to carve out a healthy base to set the foundation for another sustained run.

If there is a negative, it’s in the revenue guidance for next quarter. The company sees revenues in the $23 – 25 million range which is lower than Wall St estimates of $25.5 million.  The company does expect to report a smaller loss next quarter (.50-.57) than what analyst expect (.61/share loss).

The CEO of course was thrilled with the quarter and still believes the company will achieve positive GAAP earnings next year.

“By nearly doubling our megawatts under management over the past year and continuing to drive operational efficiencies, we were able to eclipse $100 million in quarterly revenue and generate more than a dollar per share in GAAP earnings.  We have
positioned ourselves to achieve our 2009 objectives and deliver positive GAAP earnings per share in 2010.”

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