New energy companies are posting mixed revenues despite renewable startups

While oil and gas companies have turned off the lights this season, the energy sector has grown by more than any of the 11 U.S. sectors. The sector has so far reported more than three times the growth rate of the second-tier sector, which is 112.8% year-on-year. Big oil has been particularly impressive, with ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), Shelfl (NYSE: RDS.A) and Total energies (NYSE: TTE) After a tragic year a year ago, everyone is making a big profit.

Unfortunately, the same cannot be said of the Big Oil Green Energy peers.

Top sun names The first sun (NASDAQ: FSLR) and Invasive Energy Inc. (NASDAQ: ENPH) You have easily raised Wall Street expectations. However, it was a mixed bag of recent green discoveries.

This comes on the heels of an executive order issued by President Biden on Thursday for the sale of 2030 electric (battery-electric, fuel cell, and plug-in vehicles). The move is the latest in a series of measures to combat climate change by targeting emissions from cars and trucks.

Surprisingly, the three leading Detroit cars General Motors (NYSE: GM), Ford (NYSE: F), and Chrysler’s parent Stellantis NV (NYSE: STLA) The three have stated their common desire to achieve 40-50% of US annual vehicle sales by 2030.

Here is the latest collection of revenue in the green energy sector.

# 1. Fisker

Last week, Electric Vehicles and Mobility Solutions Company Fisker, Inc.(NYSE: FSR) presented the results for Q2 2021.

Fisker reported Q2 GAAP EPS – $ 962 million in cash and cash with June 30, 2021 and zero debt. The net cash used in operations was $ 28.1 million in the quarter, while the capital expenditure was $ 0.3 million.

Fisker remains a speculative game because it will not start production of the EV SUV until 2023, and may not start making big money by the end of 2021.

Fisker has announced that the Fisker Ocean SUV is expected to be fully operational by November 17, 2022, with production and more than 5,000 units per month by 2023. In addition to features such as a solar roof, a 300-mile range is promising.

As Fisker discusses the company’s unique asset-lighting strategy that allows it to operate simultaneously on multiple platforms and vehicles, the market appears to be unsurprising, with FSS stock declining by 10% in the last five trading sessions.

Investors may feel that Fischer is not moving fast enough, especially now that the ICE giants have doubled in size and are facing a competitive market crisis. While not mandatory, the 50% target is likely to attract billions of dollars in private investment from private and public sectors over the next decade. It has already requested $ 174 billion in government spending, including $ 100 billion in customer incentives to grow EV. While it remains volatile until new consumer incentives are in place, the two-tier Senate infrastructure budget includes $ 7.5 billion for EV charging stations.

Investors said investments in EVS could reach a total of $ 330 billion by 2025, and EVs could reach 24% of total sales by 2030.

# 2. PlugPower

Hydrogen Fuel Cell Maker Plug power (NASDAQ: PLUG) Reported mixed results, but still managed to impress after reporting huge payoff growth. PlugPower reported Q2 GAAP EPS – $ 0.18, Wall Street deal lost $ 0.11, but revenue of 124.56M (+ 83.0% Y / Y) was $ 13.35m.

PlugPower says it shipped 3,666 GenDrive out of 2,683 GenDrive units in the first quarter.

Total invoices were $ 126.3 million compared to $ 72.4 million a year ago.

Related – Why Norway does not give up on oil and gas

President and CEO Andrew Marsh said growth in the electrolyzer business is expected to grow by more than 400% Y / Y by 2021 and will continue to grow strong by 2024. Strong growth has encouraged the company to increase its total yearly booking guidelines to $ 500. M. For the fiscal year 2022, Plug has set a target of $ 750 million in cash.

PLUG stocks rose 11% on Monday.

Last month, Citigroup said the hydrogen economy, which is launching a cover-up on PLUG and a $ 35 price target, “will lead the way to the cracks and plugs.”

A.D. Hydrogen stocks fell sharply by 2021 after enjoying a split in 2020, mainly due to price concerns. Of Opposition Next Gen H2 ETF (NYSEARCA: HYDRO) Decreased by about 30% since the beginning of April.

# 3. Ballard Power Systems Inc.

Ballard Power Systems (NASDAQ: BLDP) is another hydrogen name that reported mixed second quarter results.

Ballard Power reported Q2 GAAP EPS – $ 0.07, Wall Street estimate lost $ 0.02, and $ 25M (-3.1% Y / Y) revenue at $ 3.82m. Adjusted EBITDA at $ 19.7 million, compared to $ 8.0 million a year ago, mainly due to margin pressure and cash handling costs. According to the company, the total profit margin of Q2 2021 has decreased by 600 points to 600%, mainly due to a change in the overall product margin and service revenue mix.

After a series of revenues, the BLDP did not fare well this year. However, the company is still considered one of the world’s largest hydrogen fuel cell products, and its 46% annual sales growth by 2030 makes it worth noting.

By Alex Kimani to Oilprice.com

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