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LFP battery increasingly applied to electric buses, energy storage systems

LFP (lithium ferro-phosphate) batteries are gaining momentum in EV applications, especially for electric buses and energy storage systems, with Foxconn's electric buses also adopting such batteries, according to supply chain sources......»»

Category: topSource: digitimesMay 23rd, 2022

Tesla Will Soon Report A Terrible Q2: Shortseller

Stanphyl Capital letter to investors for the month ended June 30, 2022, discussing their short thesis for Tesla Inc (NASDAQ:TSLA). Tesla’s Gigantic Money Furnaces Losing Billions Of Dollars In an interview released in June but conducted in late-May with a local Tesla fan club, Elon Musk called Tesla Inc (NASDAQ:TSLA)’s new German and Texas factories […] Stanphyl Capital letter to investors for the month ended June 30, 2022, discussing their short thesis for Tesla Inc (NASDAQ:TSLA). Tesla’s Gigantic Money Furnaces Losing Billions Of Dollars In an interview released in June but conducted in late-May with a local Tesla fan club, Elon Musk called Tesla Inc (NASDAQ:TSLA)’s new German and Texas factories “gigantic money furnaces losing billions of dollars.” Yet in the quarterly conference call just five weeks prior to that he implied things were going great at those factories… if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more So, as Zach said, we remain confident of a 50% growth in vehicle production in 2022 versus ‘21. I think, we actually have a reasonable shot at a 60% increase over last year. So, let’s see. Obviously, we ramped production, as you will know, with Giga Berlin and Giga Texas in the past few months. So, with two fantastic factories with great teams, and they are ramping rapidly. Now, with new factories, the initial ramp always looks small, but it grows exponentially. So, I have very high confidence in the teams of both factories. And we expect to ramp those initially slowly, but like I said, growing exponentially with them achieving high volume by the end of this year. …and then proceeded to almost immediately dump billions of dollars in TSLA stock. Back when this country had an SEC that prioritized “corporate fraud” over nonsensical crap such as “climate change disclosures” it might have taken a look at this, but under Trump and now Biden the SEC has become one of the most useless agencies in Washington, which is quite an accomplishment considering its competition! We also learned in June that Tesla only fulfilled its obligation to report a series of serious Autopilot accidents to the NHTSA after the NHTSA had already learned about them. Elon Musk remains the most vile person ever to head a large-cap U.S. public company, and we remain short Tesla, the biggest bubble-stock in modern market history, because: It has a flat-to-sliding share of the world’s EV market and a share of the overall auto market that’s only around 1.5%, yet a market cap greater than the next 9 largest automakers (by market cap) combined despite selling fewer than 3% of the cars they do. It has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of its electric car technology (which has now been equaled or surpassed by numerous competitors), while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Meanwhile, its previously proprietary Superchargers are being opened to everyone. Excluding working capital benefits and sunsetting emission credit sales Tesla generates only minimal free cash flow. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar. A Terrible Q2 Tesla will soon report a terrible Q2 (even before accounting for a roughly $500 million Bitcoin write-down), with deliveries down substantially from Q1, which itself showed no growth over Q4. However, Q2’s decrease was due to a monthlong COVID-related closing of Tesla’s Shanghai factory, and thus it might be a while yet before we can get a “clean” demand picture for the company. Regardless, Tesla has objectively lost its “product edge,” with many competing cars now offering comparable or better real-world range, better interiors, similar or faster charging speeds and much better quality. (Tesla ranks second-to-last in Consumer Reports’ reliability survey while British consumer organization Which? found it to be one of the least reliable cars in existence.) Thus, due to competitors’ temporary production constraints, waiting times are now longer for many of Tesla’s direct EV competitors than they are for a Tesla. (Here’s one example, and here’s another.) In fact, Tesla is now the second, third or fourth choice for many EV buyers, and only maintains its volume lead though a short-lived edge in production capacity that will disappear over the next 12 to 36 months as competitors rapidly increase the ability to produce their superior EVs. In fact, Tesla’s poorly-built Model Y faces current (or imminent) competition from the much better made (and often just better) electric Hyundai Ioniq 5, Kia EV6, Ford Mustang Mach E, Cadillac Lyriq, Nissan Ariya, Audi Q4 e-tron, BMW iX3, Mercedes EQB, Volvo XC40 Recharge and Polestar 3. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2, the great new BMW i4, the upcoming Hyundai Ioniq 6 and Volkswagen Aero, and multiple local competitors in China—here, from Snowbull Capital’s @TaylorOgan, is just one example of that Chinese competition: And in the high-end electric car segment worldwide the Porsche Taycan (the base model of which is now considerably less expensive than Tesla’s Model S) outsells the Model S, while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make it look like a fast Yugo, and the extremely well reviewed new BMW iX and Mercedes EQS SUV do the same to the Model X. The worst thing that can possibly happen to “the Tesla story” will be when its German and Texas plants are fully operational and the subsequent excess capacity stares the world right in the face, thereby ending its myth of “unlimited demand” (especially at current, drastically-raised prices, where the cheapest Model 3 now starts at $47,000 and the cheapest Model Y begins at $66,000); in fact, look for margin-destroying price cuts by late this year or early 2023. Tesla Is Netflix Indeed, for years I’ve said “Tesla is Blackberry”—the maker of a first-generation version of a product that—once the market was proven—would be supplanted into niche obscurity by newer, better versions; now I can provide a much more recent analogy: Tesla is Netflix. For years Netflix had an absurd valuation based on its pioneering position in streaming media, but once it proved that such a market existed myriad competitors swarmed all over it, and in April the stock collapsed when we learned that not only is Netflix no longer in “hypergrowth” mode but for the first time since 2011 (when it transitioned from physical DVDs) it actually lost subscribers. I believe Musk knows that Tesla is “the next Netflix” (hence his recent “Twitter buying distraction”), with VW, Hyundai/Kia, Ford, GM, BMW, Mercedes, BYD & other Chinese competitors and, in a few years, Toyota & Honda, being the Disney, HBO Max, Amazon Prime, Peacock, Hulu, Paramount +, etc., of the electric car market, stealing Tesla’s share and eventually pounding its stock price down 95% or so from today’s, into the valuation of “just another car company.” Meanwhile, in June the NHTSA announced that its investigation of Tesla’s deadly Autopilot has expanded into “an engineering analysis,” the last required step before (finally!) demanding a full recall. The refund liability potential for Tesla for this is in the billions of dollars, and possibly even the tens of billions if a class action lawsuit proves that the cars involved were purchased solely due to the (fallacious) promise of “full self-driving.” And, of course, there will be a massive “valuation reappraisal” for Tesla’s stock as the world wakes up to the fact that Tesla’s so-called “autonomy technology” is just trailing-edge garbage. Also in June the NHTSA released some raw data about driver assistance system crashes, and over 70% of them involved Teslas. (For all Tesla deaths cited in the media—which is likely only a small fraction of those that have occurred—see TeslaDeaths.com.) Also interesting is that—unlike for other systems—in the vast majority of cases the Autopilot Teslas hit something rather than “were hit,” as was the case for more advanced systems (Level 4). And Tesla has sold this trashy software for over five years now: …and still promotes it on its website via a completely fraudulent video! Meanwhile, the “record” profits that accompanied Q1’s nearly flat delivery number were obtained via myriad one-time items, including $679 million of emission credit sales that will disappear over the next year or two as every automaker ramps up its EV sales, a mysterious $502 million reduction in SG&A expense (of which only $140 million was due to reduced stock comp) despite opening new factories in Germany and Texas (what is Tesla capitalizing instead of expensing???) and a combination of FIFO accounting and multiple sticker price increases that allowed Tesla to expense rapidly rising raw materials costs at older, lower prices while selling cars built from those materials at new, considerably higher prices. And, as cited here previously, Tesla practices consistently fraudulent warranty accounting. Adjusting for these factors, Tesla had GAAP earnings for the quarter that were at least $1/share lower than the posted $2.86, and annualizing that realistic $1.86/share to $7.44 means that at June’s closing price Tesla (on a no-growth quarter) had a PE ratio of around 90 vs. an industry-wide figure in the mid-single digits. Meanwhile, excluding growth in net payables and $993 million in sunsetting emission credit sales, Tesla’s free cash for Q1 2022 and Q4 2021 combined was just $950 million, which annualizes to only around $1.9 billion*. A 15x multiple on this (roughly a 100% premium to BMW’s multiple) would make TSLA stock worth only around $28/share! *And I’m not even backing out Tesla’s massively dilutive stock comp An Energy Company And for those of you who think that Tesla is “really an energy company,” in Q1 “Tesla Energy” had revenue of just $616 million (down 10.5% sequentially) and cost of revenue of $688 million, meaning it had a negative gross margin. So if Tesla is “really an energy company,” it’s even more screwed than if it’s just a car company! Meanwhile, many Tesla bulls sincerely believe that ten years from now the company will be twice the size of Volkswagen or Toyota, thereby selling around 20 million cars a year (up from the current run-rate of around 1.3 million); in fact in March Musk himself even raised this as a possibility. To illustrate how utterly absurd this is, going from 1.3 million cars a year today to 20 million in ten years means that in addition to one million cars a year of eventual production from the new German and Texas factories, Tesla would have to add 35 more brand new 500,000 car/year factories with sold out production; i.e., a new factory nearly every single quarter for ten years! Another favorite hype story from Tesla bulls has been “the China market,” but Tesla’s Q1 2022 domestic China sales sequentially declined by approximately 8000 units vs. Q4 2021, and it had only around 1.9% of the overall Chinese passenger vehicle market and has flatlined at only around 10% of the BEV market. In other words, “Tesla China” is no longer “a growth story”: Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2024 (as is now expected), even if Tesla makes some of its own,  other manufacturers will gladly sell them to anyone. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, Ford’s terrific 2022 all-electric F-150 Lightning now has over 200,000 retail reservations (plus many more fleet reservations), GM has introduced its fantastic 2023 electric Silverado which already has nearly 200,000 reservations and Rivian’s pick-up has gotten excellent early reviews. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill despite the NTSB condemning it. Elsewhere in safety, the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So Here Is Tesla’s Competition In Cars... (note: these links are regularly updated) Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Volkswagen ID.4 Electric SUV Volkswagen unveils ID.6 SUV EV in China Volkswagen ID.Buzz Electric Van Volkswagen unveils the ID. AERO sedan with 385 miles of range New sketch of 2025 Volkswagen ID.1 unveiled VW’s Cupra Born Volkswagen unveils $7.1B commitment to boost product line-up, R&D, mfg in N. America Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch 2022 Audi A6 e-tron set to take on Tesla Audi will expand EV lineup with electric A6 wagon Audi TT to be axed in 2023 for 'emotional', electric replacement Hyundai Ioniq 5 Hyundai Ioniq 6 Will Be a Slick-Looking EV Sedan Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis Electrified GV70 Revealed With 483 Horsepower And AWD Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV9 to land in US in 2023 with 300-miles range, $50,000 price Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class 2023 Mercedes EQS SUV Is a Seven-Seat EV Flagship with up to 536 HP 2023 Mercedes EQE Electric Sedan Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to launch 7 EVs in Europe in big electric push Ford unveils Lincoln Star electric SUV concept as it readies to add four new EVs by 2026 Polestar 2 sedan Polestar 3 SUV With 372-Mile Range Coming Late 2022 Volvo XC40 Recharge Volvo C40 Recharge Chevrolet Bolt sedan, 259-mile range starting at $31,000 Chevrolet Bolt EUV electric crossover Cadillac All-Electric Lyriq Available Spring 2022 GMC 2022 ALL-ELECTRIC SUPERTRUCK HUMMER EV GM’s 2023 electric Silverado pickup truck GMC to launch electric Hummer SUV in 2023 2023 Chevrolet Blazer EV primed to take on Tesla Model Y GM Launches BrightDrop to Electrify the Delivery of Goods and Services GM & Honda Will Codevelop Affordable EVs Targeting Most Popular Vehicle Segments Honda pours $40 billion into electrification, targets 2 million EV production by 2030 Honda and Sony finalize 50-50 joint venture to build EVs in 2025 BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan BMW i7 EV, with 600 hp, will be most powerful variant of new 7 Series flagship BMW iX1 Revealed With 313 HP, 272 Miles WLTP Range Renault-Nissan alliance plows $26B into EV blitz- will jointly launch 35 new EVs Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now Nissan Unveils $18 Billion Electric-Vehicle Strategy Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Chrysler to go all-EV by 2028 Alfa Romeo's First Electric Car Will Arrive in 2024 Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Subaru shows off its first electric vehicle, the Solterra SUV Citroen compact EV challenges VW ID3 on price Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Maserati going fully electric by 2030 -all vehicles will offer a BEV version by 2025 Mini Cooper SE Electric Toyota’s Electric bZ4X Goes On Sale in Spring 2022 Toyota will have lineup of 30 full EVs by 2030; Lexus will be all-electric brand Honda and Sony to build, sell EVs by 2025 Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley will start output of first full EV in 2025 All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And In China, Where Tesla’s EV Market Share Is Stuck At 10% And Not Growing… BYD is #1 in Chinese EVs, selling FAR more than Tesla Volkswagen to boost Chinese EV capacity to 1m by 2023 Audi-FAW's $3.3 billion electric vehicle venture Nio Xpeng Motors Hozon/Neta Li Auto GAC Aion Leap Motors GM launches Ultium EV production platform in China Ford Mustang Mach-E Rolls Off Assembly Line in China Cheaper than Tesla: Honda takes aim at China's middle class BMW i3 Debuts As All-Electric 3 Series Only For China Hongqi Geely Zeekr Premium EVs by Geely Baidu and Geely put nearly $400 million more into their electric car venture Mercedes-Benz Said To Build EV In China From 2024 BAIC Hyundai, BAIC Motor to inject $942 mn in China JV for EVs Toyota partners with BYD to build affordable $30,000 electric car Lexus RZ 450e Steers For China Dongfeng SAIC Renault launches sales of first EV in China Nissan expects 40% of sales in China to be electrified by 2026 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weimar Chery Seres Enovate Singulato JAC Motors Iconiq Motors Aiways Skyworth Auto Youxia Human Horizons Xiaomi announces plans for four electric vehicle models Here's Tesla's Competition In Autonomous Driving; The Independents All Have Deals With Major OEMs… Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Waymo operates robotaxis NOW GM’s Cruise operates robotaxis NOW Argo AI (owned by Ford & VW) Begins Driverless Vehicle Operations in Miami & Austin Mobileye operates driverless test fleets in Europe and the U.S. Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Ford’s hands-free “Blue Cruise” Mercedes Launches SAE Level 3 Drive Pilot System Honda Legend Sedan with Level 3 Autonomy Now Available in Japan Hyundai + Motional Bringing IONIQ 5 robotaxis to the streets from 2023 Amazon’s Zoox will test its autonomous vehicles on Seattle’s rainy streets Baidu Apollo’s autonomous driving service is now inclusive to all the megacities in China Alibaba-backed AutoX unveils first driverless RoboTaxi production line in China Pony.ai approved for public driverless robotaxi service in Beijing Here's Where Tesla's Competition Will Get Its Battery Cells... Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Northvolt Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe GM’s Ultium GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis affirms commitment to build battery factory in Italy with Mercedes, TotalEnergies Stellantis and Samsung SDI to Invest Over $2.5B in Battery Production Plant in United States Stellantis and LG to Invest Over $5 Billion CAD in Joint Venture for Li-Ion Battery Plant in Canada Stellantis and Factorial Energy to Jointly Develop Solid-State Batteries for Electric Vehicles Mercedes-Benz to build 8 battery factories in push to become electric-only automaker Mercedes-Benz and Sila achieve breakthrough with high silicon automotive battery Toyota to build plant in N.C. capable of making up to 1.2M batteries a year Toyota Outlines Solid-State Battery Tech, $13.6 Billion Investment Nissan Announces Proprietary Solid-State Batteries Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Foxconn breaks ground on first EV battery plant Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Morrow Here's Tesla's Competition In Charging Networks... Infrastructure Bill: $7.5 billion Towards Nationwide Network of 500,000 EV Chargers Electrify America EVgo Chargepoint Ionity Europe Shell 51 U.S. electric companies commit to build nationwide EV fast charging network by end of 2023 GM to Expand Access to EV Charging with More than 40,000 Charging Stations Volkswagen powers up the grid to take on Tesla Circle K begins North American EV fast charger rollout, plans 200-site network by 2024 Porsche to build out its own network of EV charging stations Petro-Canada Coast-to-Coast Canadian Charging Network Volta E.On BP Volkswagen and BP partner to deploy up to 8,000 EV chargers across EU/UK Smatric Allego Podpoint Instavolt Fastned Total Nio Battery Swap Stations BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales Evie And here’s Tesla’s competition in storage batteries… Panasonic Samsung LG Energy Solutions CATL BYD AES + Siemens (Fluence) GE Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Sonnen Generac Kokam Eaton Tesvolt Leclanche Lockheed Martin Honeywell EOS Energy Storage ESS Electriq Power Redflow Primus Power Simpliphi Power Invinity Murata Bollore Adara Blue Planet Aggreko Orison Powin Energy Nidec Powervault Kore Power Shanghai Electric LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor SolarEdge Q-Cells Huawei Toyota ADS-TEC Form Energy Enphase Sumitomo Electric Stryten Energy Freyr Growatt Polarium Thanks, Mark Spiegel Updated on Jul 1, 2022, 10:56 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkJul 1st, 2022

Enphase (ENPH) Sees Increased Product Deployments in New Mexico

Enphase (ENPH) holds solid growth opportunities in New Mexico wherein residential battery capacity is projected to grow nearly eight-fold by the end of 2026. Enphase Energy, Inc. ENPH has been witnessing increased deployments of Enphase Energy Systems in New Mexico, thanks to the growing demand for energy storage products as the state anticipates a brutal heatwave this year.This should further boost Enphase’s revenues from the United States in 2022, wherein the solar player recorded solid 74% year-over-year revenue growth last year. What’s Driving Increased Deployments in New Mexico?Extreme weather conditions across the United States have been disrupting electric grids, thereby leading to more power outages than usual on numerous occasions. This, in turn, has led to increased homeowner interest in solar and battery systems. The state of New Mexico is expecting extreme heat this summer that may hit grid reliability.Homeowners in New Mexico can now install Enphase’s revolutionary IQ8 Microinverters, which provide an impressive backup system during an outage, even in the absence of a battery.No doubt these factors must have boosted the demand for energy storage systems like Enphase Energy System, which is a complete solar solution, comprising the company’s IQ Microinverters and IQ Batteries.Enphase’s Prospects in New MexicoIn 2021, renewable resources provided the largest share of in-state electricity generation for New Mexico, at almost two-fifths. Power from renewable energy has more than doubled since 2017, both in megawatt-hours and in the share of total generation. In 2019, New Mexico revised its 2004 renewable portfolio standard (RPS) and increased the state's required renewable energy targets to go carbon-free by 2045. These have set the stage for energy storage demand in the state.As multifaceted impacts of global warming are projected to create more frequent irregularities in weather patterns around the world, energy storage demand is expected to increase manifold in the coming years.Per the U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie, residential battery capacity in New Mexico is projected to grow nearly eight-fold by the end of 2026. Such a forecast exemplifies immense growth opportunities for ENPH to prosper on growing demand with its best-in-class battery storage systems and customer experience.U.S. Battery Storage BoomPer the U.S. Energy Information Administration, the United States is likely to witness an addition of 10,000 megawatts of large-scale battery storage projects to be installed between 2021 and 2023.Such compelling growth projections for the U.S. battery storage market embody indicate opportunities for companies like Enphase Energy. Prominent solar players like SolarEdge Technologies SEDG, SunRun RUN and SunPower SPWR have also capitalized on the bright prospects of the U.S. battery storage market with their product range.For instance, SolarEdge’s StorEdge battery storage system helps meet energy demands with less or cheaper electricity. The company strengthened its presence in the United States by launching its SolarEdge Energy Bank residential battery and SolarEdge Energy Hub inverter with enhanced backup power, in October 2021.The long-term earnings growth rate of SolarEdge stands at 28.6%. The Zacks Consensus Estimate for SEDG’s 2022 sales implies an improvement of 54% over the prior-year estimated figure.SunRun’s Bright Box battery storage system offers the flexibility to generate, store and manage clean, affordable solar energy. Brightbox can buffer homeowners from increasing energy costs so that they have power when they need it the most, thus enabling homeowners to take charge of their electric bills and get control of energy needs now and in the future.The Zacks Consensus Estimate for RUN’s 2022 sales indicates an improvement of 21.9% over the prior-year reported figure.SunPower’s Equinox system with SunVault Storage solution offers an effective storage solution to homeowners by collecting excess energy in the daytime and distributing it as needed to power essential devices during an outage. In March 2022, the company signed a deal, as part of which its Equinox home solar system will be deployed in all new houses built by Landsea in California, while home buyers in Arizona, Florida and Texas will also have the option to add the technology to their properties.The Zacks Consensus Estimate for SunPower’s 2022 earnings suggests an improvement of 457.1% over the past year’s reported number. The long-term earnings growth rate for SPWR stands at 15.6%.Price MovementIn the past year, shares of Enphase Energy have risen 14.4% against the industry’s 26.6% decline.Image Source: Zacks Investment ResearchZacks RankEnphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 24th, 2022

Enphase (ENPH) Energy System Demand Ramps Up in New York

The demand for Enphase Energy's (ENPH) Energy System, powered by IQ8 Microinverters and IQ Batteries, augments in New York amid the approaching summer season. Enphase Energy, Inc.ENPH recently revealed that the demand for its Enphase Energy Systems, powered by IQ8 Microinverters and IQ Batteries, has ramped up in New York as homeowners hunt for reliable backup power amid the approaching summer season and resultant heat waves.To this end, it is imperative to mention that extreme weather conditions disrupt the proper functionality of the grid and thus tend to fuel the demand for resilient and sustainable backup power. In this context, Enphase products are uniquely designed to meet such energy independence demands.Consequently, its products witness pent-up demand in areas that are prone to natural disasters and other extreme conditions, which stress the grid. The current intensified demand in New York is a testament to the fact.Can Enphase Products Demand be Sustained in New York?The demand for electricity on hot summer days in New York is at its peak, which strains the grid and leads to prolonged power outages. In such a scenario, ENPH may continue to capitalize on the growing demand as its products aim at boosting the usage of the battery storage solution during peak hours to reduce dependence on the grid and aid its proper functioning when energy usage is at the highest.Moreover, going forward, the residential battery capacity in New York is likely to augment by nearly fivefold by the end of 2026, per the report from U.S. Energy Storage Monitor and Wood Mackenzie.Against this backdrop, Enphase’s IQ8 Microinverter that offers distinctive advantages to users and is the first in the world to be certified by UL, a global safety science leader, is likely to witness further increased deployment in a region that boasts such a capacity expansion in the battery storage market.Battery Storage Market Prospects in the USThe elevating utility prices, along with an increased focus of homeowners on becoming energy independent to dodge away from the grid going dark circumstances, are some of the factors that are primarily propelling the growth of the U.S. battery storage market. This is eventually benefiting companies like Enphase, which already enjoy a strong position as a leading U.S. manufacturer of microinverters and battery storage systems.Per the report from Grand View Research, the U.S. battery storage market is expected to witness a CAGR of 23.9% over the 2020-2027 period.Such growth projections entail immense prospects for solar companies in the United States like Enphase, SolarEdge Technologies SEDG, SunRun RUN and SunPower SPWR to reap the multitude of gains and prosper in the expanding battery storage market.SolarEdge’s StorEdge battery storage system helps meet energy demands with less or cheaper electricity. In 2021, the company strengthened its presence in the United States by launching its SolarEdge Energy Bank residential battery and SolarEdge Energy Hub inverter with enhanced backup power.SolarEdgeboasts a long-term earnings growth rate of 28.5%. SEDG shares have appreciated 6.8% in the past year.SunRun’s BrightBox battery storage system offers the flexibility to generate, store and manage clean, affordable solar energy. BrightBox can buffer homeowners from increasing energy costs so that they have power when they need it the most, thus enabling homeowners to take charge of their electric bills and get control of energy needs now and in the future.The Zacks Consensus Estimate for SunRun’s 2022 sales indicates a growth rate of 19.6% from the prior-year reported figure. RUN shares have rallied 0.5% in the past month.SunPower’s Equinox system with the SunVault Storage solution offers an effective storage solution to homeowners by collecting excess energy in the daytime and distributing it as needed to power essential devices during an outage, thus reducing reliance on grid electricity. This also reduces peak-time charges.The Zacks Consensus Estimate for SunPower’s 2022 earnings is pegged at 36 cents per share, which implies a growth rate of a solid 414.3% from the prior-year reported figure. SPWR shares have rallied 4.3% in the past month.Price PerformanceIn the past year, shares of Enphase have surged 13.5% against the industry’s decline of 24.6%.Image Source: Zacks Investment ResearchZacks RankEnphase currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 22nd, 2022

2 Top Electronics Stocks to Buy From a Prospering Industry

The Zacks Electronics - Manufacturing Machinery industry participants, Kulicke and Soffa Industries (KLIC) and Axcelis Technologies (ACLS), are benefiting from increased capital spending on high-performance computing, advanced packaging and memory. The Zacks Electronics - Manufacturing Machinery industry is benefiting from increased capital spending on high-performance computing, artificial intelligence, advanced packaging and memory by semiconductor manufacturers. The rising need for data center, notebooks (due to coronavirus-induced remote working and learning) and gaming (pandemic-induced demand) are driving memory demand. Kulicke and Soffa Industries KLIC and Axcelis Technologies ACLS are gaining from the above-mentioned trends.These companies provide solutions to semiconductor manufacturers and OEMs. Although weak smartphone demand has been a concern, strength in cloud & data center, healthcare solutions and gaming has been a key catalyst.Industry DescriptionThe Zacks Electronics - Manufacturing Machinery industry comprises companies that provide a range of solutions to address the needs of wafer processing facilities as well as device packaging and test facilities of semiconductor manufacturing processes.The solutions offered by the industry participants include thin-film processing systems, photonics, process control tools (that perform macro defect inspections and metrology), metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, and 3D wafer inspection systems.A few industry participants also offer microcontamination control products and advanced materials handling solutions. Notably, contamination-free transportation, storage and delivery of materials have gained immense significance in recent times.3 Trends Shaping the Future of the Electronics IndustryMiniaturization Enhances Prospects: Industry participants are benefiting from the ongoing transition in semiconductor manufacturing technology. The demand for advanced packaging that enables the miniaturization of electronic products remains strong. The consistent shift to smaller dimensions andthe rapid adoption of new device architecture like FinFET transistors and 3D-NAND, along with increasing utilization of new manufacturing materials to increase transistor and bit density, are driving demand for solutions provided by the industry players. Moreover, the emergence of techniques like wafer level packaging is driving the need for a high-purity manufacturing environment free of contaminants. The rising demand for clean processing as well as wafer carrier cleaning and conditioning tools is a key catalyst for the industry participants.Complex Process Driving Demand: The requirement of faster, more powerful and more energy-efficient semiconductors is expected to increase rapidly on the robust adoption of cloud computing, IoT and AI. Semiconductor manufacturers like Intel, Samsung, Taiwan Semiconductors are primarily looking to maximize manufacturing yields at lower costs. This is actually making semiconductor manufacturing processes more complex and in turn driving demand for solutions offered by the industry participants. The rapid adoption of IoT-supported factory automation solutions is also a contributing factor. Further, increasing deployment of 5G and the growing demand for edge computing are the key catalysts.Strong NAND, DRAM & SSD Demand: The improving demand for NAND and DRAM is a positive for the industry participants. Moreover, strong SSD demand driven by data center and cloud spending is a key catalyst. DRAM is also expected to benefit from strong demand in the data center, enterprise and cloud segments. Strong demand for chip and higher spending on semiconductor capital equipment is aiding industry participants.Zacks Industry Rank Indicates Solid ProspectsThe Zacks Electronics - Manufacturing Machinery industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #94, which places it in the top 37% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates robust near-term prospects. Our research shows that the top 50% of Zacks-ranked industries outperforms the bottom 50% by a factor of more than two to one.The industry’s position in the top 50% of the Zacks-ranked industries is a result of positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. Since Jun 30, 2021, the industry’s earnings estimate for the current year has increased by 15.3%.Before we present a couple of stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.Industry Outperforms Sector, Lags S&P 500The Zacks Electronics - Manufacturing Machinery industry has outperformed the broader Zacks Computer and Technology sector but has been lagging the S&P 500 composite over the past year.The industry has declined 27.9% over this period compared with the S&P 500’s fall of 14.1% and the broader sector’s decrease of 28.7%.One-Year Price PerformanceIndustry's Current Valuation On the basis of the trailing 12-month EV/EBITDA ratio, which is a commonly used multiple for valuing Electronics - Manufacturing Machinery companies, we see that the industry is currently trading at 8.10X compared with the S&P 500’s 11.74X. It is below the sector’s trailing 12-month EV/EBITDA of 10.33X.Over the last five years, the industry has traded as high as 16.86X, as low as 8.10X and at the median of 12.84X, as the chart below shows.EV/EBITDA Ratio (TTM)2 Electronics Stocks to Buy Right NowAxcelis Technologies: This Zacks Rank #1 (Strong Buy) company is primarily a producer of ion implantation equipment used to fabricate semiconductor chips in the United States, Europe and Asia. You can see the complete list of today’s Zacks #1 Rank stocks here. Headquartered in Beverly, MA, Axcelis is riding on solid capital spending in the implant-intensive mature process technology markets. Strong adoption of the Purion product family has been a catalyst.Axcelis has been benefiting from a strong China market, driven by robust investments from a large number of domestic customers that serve the mature process technology market. Order momentum is expected to boost Axcelis’ top line in 2022.The Zacks Consensus Estimate for Axcelis’ 2022 earnings has been steady at $4.40 per share over the past 30 days.Price and Consensus: ACLS Kulicke and Soffa Industries: Singapore-based Kulicke and Soffa designs, manufactures and sells capital equipment and tools used to assemble semiconductor devices, including integrated circuits, high- and low-powered discrete devices, light-emitting diodes, and power modules. Additionally, it offers tools used to assemble components onto electronic circuit boards.Kulicke and Soffa is benefiting from strong adoption of its solutions in the automotive, semiconductor and the battery assembly space due to ongoing transition to electric vehicles and autonomous driving.Kulicke and Soffa’s expanding portfolio within the semiconductor space is a key catalyst. The company also sports a Zacks Rank #1.The consensus mark for Kulicke and Soffa’s current-year earnings has been unchanged at $7.22 per share over the past 30 days.Price and Consensus: KLIC  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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kulicke and Soffa Industries, Inc. (KLIC): Free Stock Analysis Report Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 21st, 2022

Enphase (ENPH) Energy System Demand Rises in Puerto Rico

The demand for Enphase Energy's (ENPH) Energy System, powered by IQ8 Microinverters and IQ Batteries, escalates in Puerto Rico as the region prepares itself for a prolonged outage season. Enphase Energy, Inc. ENPH recently announced that the demand for its Enphase Energy System, powered by IQ Microinverters and IQ Batteries, has escalated in Puerto Rico as homeowners hunt for a reliable and clean energy source amid rising grid outages in the region. Also, the approaching hurricane season, when prolonged outages tend to become a daily phenomenon, sparked the demand for Enphase’s state-of-the-art energy system.Additionally, rising energy prices are also fueling the demand for a resilient storage system. In such a scenario, Enphase’s technologically advanced products, which are claimed to be the industry’s smartest, tend to gain traction. This entails ENPH’s continuous focus on strategically growing the business by tapping the market, which boasts significant demand strength.What’s Driving Demand for Enphase Products in U.S.?The demand for Enphase products is increasingly intensifying in the United States as the company strives to provide the best-in-class products to meet the ever-changing needs of the evolving solar market.Before the improved demand was witnessed in Puerto Rico, Enphase witnessed the increased deployment of its products in Southern California and Florida.With many regions in the United States approaching the hurricane season, when the grid fails to function 24x7 due to lashing winds and torrential rainstorms, the demand for Enphase's products is likely to increase manifold as it endeavors to offer industry-leading home solar and battery systems with greater resilience for energy independence.Moreover, Enphase’s increased focus to capitalize on the amplified demand going forward can be gauged from its effort to add an automated line at Flex’s factory in Romania, which boasts a quarterly capacity of roughly 750,000 microinverters starting in the first quarter of 2023 and will enable a global capacity of nearly six million microinverters per quarter.Such capacity maximization should boost the stock’s shipment count further and assist the company in meeting the growing solar demand, thereby bolstering its future revenues.U.S. Battery Storage Market BoomThe rapid expansion of the U.S. solar market is likely to trigger the growth of the battery storage market as well since solar energy fails to provide electricity 24x7. In the next two years, power plant developers and operators are likely to add 10 gigawatts of battery storage capacity, of which more than 60% will be linked with solar services, per the latest short-term energy outlook report from the U.S. Energy Information Administration.Such growth projections for the U.S. battery storage market stand to benefit the leading solar behemoths in the industry. Against this backdrop, solar companies that stand to gain from the expanding battery storage market are SunPower SPWR, SunRun RUN and SolarEdge Technologies SEDG.In March 2022, SunPower announced that its residential battery storage system, SunVault Storage, with 26-kilowatt hour (kWh) and 52 kWh configurations, is now capable of providing whole-home backup services for customers without sacrificing essentials or comfort during an outage. The installation of the new SunVault will begin in June 2022.The Zacks Consensus Estimate for SunPower’s 2022 earnings suggests a growth rate of a solid 414.3% from the prior-year period. Shares of SPWR have rallied 9.4% in the past month.SunRun’s Brightbox provides uninterrupted backup power for the entire home. It also excels in providing electricity during peak demand times, thus buffering customers from high rates.The Zacks Consensus Estimate for SunRun’s 2022 sales indicates a growth rate of 19.6% from the prior-year reported figure. RUN shares have rallied 6.3% in the past month.SolarEdge launched its residential battery, the SolarEdge energy bank, in 2021. This is a 10-kilowatt single-phase battery that integrates with its SolarEdge energy hub family of inverters. Some of the existing SolarEdge systems can be upgraded with a storage solution for backup or on-grid maximum self-consumption use.SolarEdge boasts a long-term earnings growth rate of 28.5%. SEDG shares have appreciated 4.2% in the past year.Price PerformanceIn the past year, shares of Enphase have risen16.4% against the industry’s decline of 27.9%.Image Source: Zacks Investment ResearchZacks RankEnphase currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Special Report: The Top 5 IPOs for Your Portfolio Today, you have a chance to get in on the ground floor of one of the best investment opportunities of the year. As the world continues to benefit from an ever-evolving internet, a handful of innovative tech companies are on the brink of reaping immense rewards - and you can put yourself in a position to cash in. One is set to disrupt the online communication industry. Brilliantly designed for creating online communities, this stock is poised to explode when made public. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity.>>See Zacks’ Hottest IPOs NowWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 16th, 2022

DTE Energy"s (DTE) Combined-Cycle Power Plant Starts Operation

DTE Energy (DTE) announces that its Blue Water Energy Center, a combined-cycle natural gas-fired power plant, has commenced its operations in Michigan. DTE Energy Company DTE recently announced that its combined-cycle natural gas-fired power plant in Michigan — Blue Water Energy Center — has finally commenced its operations. The 1,150-megawatt (MW) plant, which has been built to provide cleaner and affordable power for 850,000 customer homes in southeast Michigan, boasts an investment worth $1 billion.With this recent development, the company takes a step forward in providing cleaner and reasonable energy for its Michigan customers while also assisting the state in pursuing its clean energy goals of achieving carbon neutrality by 2050.DTE Energy’s Clean Energy GoalsWith the entire Utility sector transitioning to a clean energy environment, DTE Energy remains committed to reducing the carbon emission of its electric utility operations by 32% by 2023, 50% by 2030 and 80% by 2040 from the 2005 carbon emission levels. The company expanded this commitment by announcing a net-zero carbon emission goal for DTE Electric and DTE Gas by 2050.To meet carbon reduction goals in the near term, DTE Electric plans to put in service another natural gas-fueled combined-cycle generation facility in 2022.Apart from the aforementioned measure to mitigate climate crisis effects, DTE plans to expand in renewables through 4,000 MW of renewable energy from Michigan wind and solar farms while meeting its energy goals through investments in technologies like hydrogen and battery storage systems, thus ensuring the 24x7 provision of electricity for its customers and lower energy bills.To this end, it is worth mentioning that DTE Energy currently intends to invest $40 billion over the next 10 years to support reliability, the addition of renewable resources and the increased pace of electric vehicle adoption. Such strategies should boost the company’s renewable energy portfolio in the coming days.Other Utility MovesTo reap the benefits of the growing renewable market in the United States, utilities other than DTE Energy that are investing in combined-cycle natural gas-fired power plants include Duke Energy DUK, Dominion Energy D and CMS Energy CMS.Duke Energy invested $817 million to build the Asheville combined-cycle station. Its other combined-cycle stations include the Citrus combined-cycle station and a 750 MW combined-cycle natural gas plant at the W.S. LeeDuke Energy boasts a long-term earnings growth rate of 6.1%. DUK shares have returned 10.5% in the past year.Dominion Energy has significantly invested in the natural gas combined-cycle plant to boost its attainment of clean energy goals. Dominion Energy’s natural gas combined-cycle plants include the 540 MW Columbia Energy Center, the 875 MW Jasper Generating Plant, the 250 MW McMeekin Station and the 650 MW Urquhart Station.Dominion Energy’s long-term earnings growth rate is pegged at 6.3%. D shares have returned 9.2% in the past year.CMS Energy’s subsidiary, Consumer Energy, has two natural gas combined-cycle plants — one in Zeeland and one in Jackson — with a total generating capability of 1117 MW. The Zeeland facility employs two natural gas simple-cycle units providing an additional 360MW of generating capability. Together, The Zeeland and Jackson Generating Stations are capable of contributing more than 1,470 MW of clean energy to the grid.CMS Energy boasts a long-term earnings growth rate of 8.4%. CMS shares have returned 18% in the past year.Price MovementIn the past six months, DTE Energy’s shares have rallied 15.8% compared with the industry’s growth of 5.6%.Image Source: Zacks Investment ResearchZacks RankDTE Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Duke Energy Corporation (DUK): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report CMS Energy Corporation (CMS): Free Stock Analysis Report Dominion Energy Inc. (D): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 7th, 2022

DTE Energy"s (DTE) Combined-Cycle Power Plant Starts Operation

DTE Energy (DTE) announces that its Blue Water Energy Center, a combined-cycle natural gas-fired power plant, has commenced its operations in Michigan. DTE Energy Company DTE recently announced that its combined-cycle natural gas-fired power plant in Michigan — Blue Water Energy Center — has finally commenced its operations. The 1,150-megawatt (MW) plant, which has been built to provide cleaner and affordable power for 850,000 customer homes in southeast Michigan, boasts an investment worth $1 billion.With this recent development, the company takes a step forward in providing cleaner and reasonable energy for its Michigan customers while also assisting the state in pursuing its clean energy goals of achieving carbon neutrality by 2050.DTE Energy’sClean Energy GoalsWith the entire Utility sector transitioning to a clean energy environment, DTE Energy remains committed to reducing the carbon emission of its electric utility operations by 32% by 2023, 50% by 2030 and 80% by 2040 from the 2005 carbon emission levels. The company expanded this commitment by announcing a net-zero carbon emission goal for DTE Electric and DTE Gas by 2050.To meet carbon reduction goals in the near term, DTE Electric plans to put in service another natural gas-fueled combined-cycle generation facility in 2022.Apart from the aforementioned measure to mitigate climate crisis effects, DTE plans to expand in renewables through 4,000 MW of renewable energy from Michigan wind and solar farms while meeting its energy goals through investments in technologies like hydrogen and battery storage systems, thus ensuring the 24x7 provision of electricity for its customers and lower energy bills.To this end, it is worth mentioning that DTE Energy currently intends to invest $40 billion over the next 10 years to support reliability, the addition of renewable resources and the increased pace of electric vehicle adoption. Such strategies should boost the company’s renewable energy portfolio in the coming days.Other Utility MovesTo reap the benefits of the growing renewable market in the United States, utilities other than DTE Energy that are investing in combined-cycle natural gas-fired power plants include Duke Energy DUK, Dominion Energy D and CMS Energy CMS.Duke Energy invested $817 million to build the Asheville combined-cycle station. Its other combined-cycle stations include the Citrus combined-cycle station and a 750 MW combined-cycle natural gas plant at the W.S. LeeDuke Energy boasts a long-term earnings growth rate of 6.1%. DUK shares have returned 10.5% in the past year.Dominion Energy has significantly invested in the natural gas combined-cycle plant to boost its attainment of clean energy goals. Dominion Energy’s natural gas combined-cycle plants include the 540 MW Columbia Energy Center, the 875 MW Jasper Generating Plant, the 250 MW McMeekin Station and the 650 MW Urquhart Station.Dominion Energy’s long-term earnings growth rate is pegged at 6.3%. D shares have returned 9.2% in the past year.CMS Energy’s subsidiary, Consumer Energy, has two natural gas combined-cycle plants — one in Zeeland and one in Jackson — with a total generating capability of 1117 MW. The Zeeland facility employs two natural gas simple-cycle units providing an additional 360MW of generating capability. Together, The Zeeland and Jackson Generating Stations are capable of contributing more than 1,470 MW of clean energy to the grid.CMS Energy boasts a long-term earnings growth rate of 8.4%. CMS shares have returned 18% in the past year.Price MovementIn the past six months, DTE Energy’s shares have rallied 15.8% compared with the industry’s growth of 5.6%.Image Source: Zacks Investment ResearchZacks RankDTE Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Duke Energy Corporation (DUK): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report CMS Energy Corporation (CMS): Free Stock Analysis Report Dominion Energy Inc. (D): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 7th, 2022

Enphase (ENPH) Energy System Demand Intensifies in Florida

Enphase Energy (ENPH) announces that its Enphase Energy System, powered by IQ Microinverters and IQ Batteries, has witnessed increased deployment in Florida. Enphase Energy, Inc.ENPH recently revealed that Florida has been increasingly adopting its Enphase Energy System, with homeowners striving to reduce their dependence on the grid as they approach the hurricane season.What’s Driving the Demand?Florida offers a huge platform to battery storage makers like Enphase as the region is susceptible to intense storms and consequently prolonged power outages. In such a scenario, ENPH’s technologically advanced energy system that comes with benefits well-suited to meet householders needs for clean, reliable and safe energy provides homeowners with accessibility to backup power when they need it the most.Florida customers can opt to install Enphase’s revolutionary IQ8 Microinverters, which can provide Sunlight Backup. Enphase’s IQ8 Microinverters have the capability of forming a microgrid during a power outage using only sunlight, thus providing backup power even without a battery. Additionally, it offers a seamless power transfer without any reliance on elevating fuel prices.No doubt such remarkable features must have been boosting the demand for Enphase’s products in the Sunshine State, which is prone to power outages during severe weather conditions, especially hurricanes.Enphase’s Growth Prospects in FloridaThe current expansion in Florida’s market broadens scope for ENPH to further gain from the opportunistic solar market, buoyed by its impressive range of products. Looking ahead, per the U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie’s latest report, the deployment of battery storage in Florida is estimated to increase almost seven-fold by the end of 2026.Considering such bright prospects, we can expect Enphase to witness further deployment of its products in Florida’s solar market, which will thereby boost its revenue generation prospects.U.S.Solar Market BoomPer the latest energy report from the U.S. Energy Information Administration, the utility-scale solar generation from June to August 2022 is estimated to escalate by 10 million megawatt hours compared with the same period last summer. Moreover, in June 2022, the U.S. electric power sector is estimated to increase by 31% in solar capacity to reach 65 gigawatts of utility-scale solar-generating capacity since June 2021.Such growth trends exemplify the nation’s increased pace of embracing solar power to fulfill energy needs. This brings the spotlight on major solar players in the industry like Enphase Energy, Canadian Solar CSIQ, First SolarFSLR and Sunrun RUNwho can fortify their business in the opportunistic solar market.In May 2022, Canadian Solar announced the completion of the construction of a 100-megawatt (MW) renewable solar power plant near Ruleville in the Mississippi Delta, providing clean energy for Entergy Mississippi's 461,000 customers. The Sunflower Solar Station is the largest solar installation in Mississippi and provides enough energy to power 16,000 homes.The Zacks Consensus Estimate for Canadian Solar’s 2022 earnings suggests a growth rate of 170.8% from the prior-year reported figure. Shares of CSIQ have rallied 8.3% in the past three months.In May 2022, First Solar signed an agreement with Scout Clean Energy to supply 378 MW of its advanced thin-film photovoltaic solar modules.First Solar boasts a long-term earnings growth rate of 13.2%. Shares of FSLR have rallied 3.3% in the past three months.In May 2022, Sunrun announced the completion of a new solar installation serving 70 affordable rental homes in San Jose, CA. The Don de Dios Apartments solar project will provide 136 kilowatts of clean energy.The Zacks Consensus Estimate for Sunrun’s 2022 sales suggests a growth rate of 17.2% from the prior-year reported figure. RUN shares have rallied 5.4% in the past three months.Price MovementIn the past year, shares of Enphase Energy have rallied 48.3% against the industry’s decline of 12.3%.Image Source: Zacks Investment ResearchZacks RankEnphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks' Top Picks to Cash in on Electric Vehicles Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investorsSee 5 EV Stocks With Extreme Upside Potential >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR): Free Stock Analysis Report Canadian Solar Inc. (CSIQ): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 3rd, 2022

Flight From Risk And Change To Pandemic Trends Behind Moves In The FTSE Reshuffle

The FTSE All Share Index Quarterly Review is based on closing prices on Tuesday 31st May and is due to be announced on Wednesday 1st June, with changes effective from Monday 20th June. Royal Mail PLC (LON:RMG) and ITV plc (LON:ITV) face potential demotion from the FTSE 100 Centrica PLC (LON:CNA) and Johnson Matthey PLC (LON:JMAT) could be […] The FTSE All Share Index Quarterly Review is based on closing prices on Tuesday 31st May and is due to be announced on Wednesday 1st June, with changes effective from Monday 20th June. Royal Mail PLC (LON:RMG) and ITV plc (LON:ITV) face potential demotion from the FTSE 100 Centrica PLC (LON:CNA) and Johnson Matthey PLC (LON:JMAT) could be promoted to the FTSE 100 JLEN Environmental Assets Group Ltd (LON:JLEN) and Foresight Solar Fund Ltd (LON:FSFL) set to enter the FTSE 250, Puretech Health PLC (LON:PRTC) and Baillie Gifford US Growth Trust PLC (LON:USA) contenders to leave the FTSE 250 if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown summarises the runners and riders: "The latest quarterly review comes amid an evaporation of investor confidence as worries ratchet up about the impact of soaring inflation and rising interest rates on l growth at a time when the global economy is still adjusting to changes brought about by the pandemic. A change from lockdown behaviour with e-commerce sales falling and streaming services struggling is partly behind the arrival of Royal Mail and ITV in the FTSE 100 drop zone. Centrica’s fortunes have lifted along with higher energy prices, as it’s managed to deftly navigate volatile costs while investors are giving Johnson Matthey the benefit of the doubt even though it hasn’t as yet carved out its future in the electric world. In the FTSE 250 there is some evidence that the appetite for responsible investing remains resilient  with JLEN Environmental Assets Group and Foresight Solar Fund set to enter the FTSE 250, while PureTech Health and Baillie Gifford US Growth Trust appear to be among the casualties of the flight away from risky assets. Potential For FTSE 100 Demotion Royal Mail made a rapid recovery in 2021 but its recent share price weakness could see it fall out of the FTSE 100 as it’s once again in the drop zone. Some investors appear to think its pandemic performance has now come unstuck with parcel numbers on the decline, but although volumes have fallen from last year's highs, they crucially appear to be rebasing at a much higher level than pre-pandemic. Royal Mail’s accelerated modernisation drive has also been boosting profitability and the move to greater automation should make the company more flexible to deal with peaks and troughs of demand going forward. However worries about inflation are weighing on the stock, with the company warning that stamp prices may have to rise again as it faces a raft of higher prices from energy to labour costs, but here again increased automation should help it weather the storm. ITV is at risk of changing channels from the FTSE 100 big league to the FTSE 250 mid cap as worries rise about the risks in the streaming space. Competition is fierce in the sector, as the recent subscriber losses for Netflix have shown. There are concerns that consumers will be less willing to shell out for the upcoming ITVX venture particularly given the cost of living crisis, and worries have risen about advertising revenue as a recession looms. Although ITV’s Studios business offers growth potential given there is such a high demand for quality content, running a production company is an expensive business which is reliant on big hits so if the shows don’t land well, there could be a hit to the bottom line, given the Studios business makes up around  a quarter of group profit. ITV’s acceleration of digitisation makes sense but there are plenty of headwinds facing the group which is why the share price has fallen back. Potential For FTSE 100 Promotion Centrica’s solid first quarter performance showed evidence of the fruits of the turnaround strategy and its most recent update highlighted that full year profits would come in at the top end of expectations.  That propelled shares higher, placing the company in pole position for re-entry into the FTSE 100. As well as higher revenues from its nuclear and gas production business, cost savings have also boosted profits and its balance sheet is also looking a lot healthier thanks to disposals. There are still clouds hovering in the form of higher wholesale costs but Centrica’s hedge positions have proved to be a protective haven during recent surges in energy costs.  Already British Gas was the dominant provider of gas and electricity and it’s now also taken another 750,000 customers under its wing as other providers went bust. The current pricing structure limits what it can make on bills, but by gaining market share, alongside another increase in the energy price cap in the Autumn puts Centrica in a stronger position. It has also stressed it’s piling £50 million into supporting customers through an energy support fund, new apprenticeships and more customer service roles. Johnson Matthey’s approach of stripping the operations back to basics is starting to be cautiously welcomed by investors after the initial shock of the company exiting the battery scene. Its share price has been recovering with full year operating profit still in line with expectations, which makes it a contender to accelerate back into the FTSE 100. Its core business is highly profitable and catalytic converters, where it makes money, isn’t going to dry up immediately. However the shift to the new electric world is gathering pace and the race is on to find other new opportunities for growth. In many ways the company is well placed to seize on fresh potential with a new CEO, Liam Condon in charge who has a cash hoard at his disposal. But investors may be disappointed if fresh deals don’t land relatively soon as the clock is ticking on the traditional automobile business. Other Potential Movers And Shakers In The FTSE 250 Reshuffle Despite the volatility facing the financial markets, there is still strength in the appetite for ESG investing with JLEN Environmental Assets Group, formerly John Laing Environmental Fund, sharply rising in value and angling for position to enter the FTSE 250. The British investment trust offers an opportunity to invest in a portfolio of projects focused on renewable energy infrastructure. The Jersey based investment company, Foresight Solar Fund has regained shine amid a change in the direction of its diversified portfolio. It won shareholder approval to focus on battery storage alongside its ground based solar plants and there appears to be confidence in the strategy bearing fruit with shares climbing sharply since the start of the year, which could help propel it back into the FTSE 250. Biotech company PureTech Health could be heading out of the FTSE 250, a casualty of investors increasingly cautious approach to risk. The nature of the product pipeline makes the results quite volatile, although the broad spectrum of its drugs could help offer longer term resilience. The Baillie Gifford US Growth Trust has also fallen out of favour as investors ride back their bets on high growth companies in an era of rapid monetary tightening, and it’s also  contender for demotion from the FTSE 250.” About Hargreaves Lansdown Over1.7 million clients trust us with £132.2 billion (as at 30 April 2022), making us the UK’s number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month. Updated on May 24, 2022, 11:50 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkMay 24th, 2022

ATS REPORTS FOURTH QUARTER AND FISCAL 2022 RESULTS

CAMBRIDGE, ON, May 19, 2022 /CNW/ - ATS Automation Tooling Systems Inc. (TSX:ATA) ("ATS" or the "Company") today reported its financial results for the three and twelve months ended March 31, 2022. Fourth quarter highlights: Revenues increased 50.8% year over year to $603.2 million. Net income increased 67.6% year over year to $39.9 million. Earnings per share were 43 cents basic and diluted compared to 26 cents a year ago. Adjusted basic earnings per share1 were 64 cents compared to 34 cents a year ago. Order Bookings1 were $638 million, 37.8% higher compared to $463 million a year ago. Order Backlog1 increased 24.0% to $1,438 million at March 31, 2022 compared to $1,160 million a year ago. "Fourth quarter performance featured record revenues, strong Order Bookings and continued adjusted EBIT margin expansion as core operations and new acquisitions combined to deliver value in a complex and volatile global environment," said Andrew Hider, Chief Executive Officer. "Our emphasis on serving regulated industries, the size and diversification of our Order Backlog, and the rigorous application of the ATS Business Model by our dedicated teams position us well for the start of our new fiscal year." Year-to-date highlights: Revenues increased 52.6% year over year to $2,182.7 million. Net income increased 89.4% year over year to $121.4 million. Earnings per share was $1.32 basic and $1.31 diluted compared to 70 cents and 69 cents respectively in the prior year. Adjusted basic earnings per share1 were $2.17 compared to $1.07 a year ago. Order Bookings1 were $2,456 million, compared to $1,626 million a year ago. Mr. Hider added "The integration of our recent acquisitions is progressing to plan as we work to achieve cost synergies and establish the foundation for additional organic growth through cross selling, capability expansion and innovation. Our ability to serve customers as a global supplier of automation, advanced products and lifecycle support services has never been greater and the relevance of our differentiated solutions is clear in today's marketplace." 1 Non-IFRS Financial Measure: see "Non-IFRS Measures and Additional IFRS Measures". Financial highlights(In millions of dollars, except per share and margin data) Q4 2022 Q4 2021 Variance Fiscal 2022 Fiscal 2021 Variance Revenues $      603.2 $     399.9 50.8% $     2,182.7 $      1,430.0 52.6% Net income $        39.9 $       23.8 67.6% $        121.4 $           64.1 89.4% Adjusted earnings fromoperations1 $        85.8 $       49.5 73.3% $        292.4 $         163.2 79.2% Adjusted earnings from operations margin1   14.2% 12.4% 183 bps   13.4% 11.4% 198 bps Adjusted EBITDA1 $        99.1 $      58.8 68.54% $       343.9 $         200.7 71.4% Adjusted EBITDA margin1 16.4% 14.7% 173 bps 15.8% 14.0% 172bps Basic earnings per share $        0.43 $      0.26 65.4% $         1.32 $           0.70 88.6% Adjusted basic earnings pershare1 $        0.64 $      0.34 88.2% $         2.17 $           1.07 102.8% Order Bookings1 $      638.0 $    463.0 37.8% $    2,456.0 $      1,626.0 51.0% As at March 31,2022 March 31,2021 Variance    Order Backlog1 $        1,438 $           1,160 24.0% 1 Non-IFRS Financial Measure: see "Non-IFRS Measures and Additional IFRS Measures". Fourth quarter summaryFiscal 2022 fourth quarter revenues were 50.8%, or $203.3 million higher than in the corresponding period a year ago and included $172.1 million of revenues earned by acquired companies, most notably $80.2 million from CFT and $59.4 million from SP. Organic revenue growth, excluding contributions from acquired companies and the impact of foreign exchange rate changes, was $41.8 million, or 10.5% higher than the fourth quarter of fiscal 2021. Foreign exchange translation negatively impacted revenues by $10.6 million or 2.7%, primarily reflecting the strengthening of the Canadian dollar relative to the Euro. Life sciences was the primary source of organic revenue growth and reflected increased activity on medical device and pharmaceutical projects. Revenues generated from construction contracts increased 37.8% or $97.5 million due to a combination of revenues earned by acquired companies of $72.0 million (primarily $53.0 million from CFT), and organic revenue growth. Revenues from services increased 24.2% or $26.6 million primarily due to revenues earned by acquired companies of $20.7 million. Organic growth in services accounted for $11.1 million of the year-over-year increase and reflected the Company's after-sales service initiatives. Foreign exchange translation negatively impacted service revenues by $5.2 million. Revenues from the sale of goods increased 246.7% or $79.2 million due to revenues earned by acquired companies, primarily CFT and SP, which generate a higher percentage of their revenues from product sales. Organic revenue and organic revenue growth are Non-IFRS measures. Please see "Non-IFRS and Other Financial Measures." By market, fourth quarter revenues generated in life sciences increased $91.6 million or 40.1% year over year. This growth reflected higher Order Backlog entering the fourth quarter of fiscal 2022 compared to the corresponding period in the prior year, and included $62.1 million of revenues earned by newly acquired companies, primarily SP, with a $40.7 million revenue contribution. Revenues generated in food & beverage increased $85.4 million or 871.4%, primarily due to the acquisition of CFT, which generated $79.9 million of revenues in the fourth quarter of fiscal 2022. Revenues in transportation increased $11.3 million or 16.8% on higher Order Backlog entering the fourth quarter of fiscal 2022. Revenues generated in consumer products increased $22.8 million or 37.9% on higher Order Backlog entering the fourth quarter of fiscal 2022. Revenues in energy decreased $7.8 million or 22.9% due to project timing. Net income for the fourth quarter of fiscal 2022 was $39.9 million (43 cents per share basic and diluted), a $16.1 million (or 67.6%) increase compared to $23.8 million (26 cents per share basic and diluted) for the fourth quarter of fiscal 2021. This primarily reflected an increase in earnings from operations combined with a decrease in net finance costs. Adjusted basic earnings per share were 64 cents compared to 34 cents in the fourth quarter of fiscal 2021 (see "Reconciliation of Non-IFRS Measures to IFRS Measures"). Fiscal 2022 fourth quarter earnings from operations were $59.8 million (9.9% operating margin) compared to $42.8 million (10.7% operating margin) in the fourth quarter a year ago. Fiscal 2022 earnings from operations included $19.2 million related to amortization of acquisition-related intangible assets, $1.4 million of incremental costs related to the Company's acquisition activity, and $1.7 million in adjustments to contingent consideration related to the acquisition of MARCO recorded to SG&A expenses, $5.2 million of acquisition-related inventory fair value charges recorded to cost of revenues and $1.9 million of restructuring costs. Fiscal 2021 fourth quarter earnings from operations included $8.1 million of amortization of acquisition-related intangible assets, $4.2 million of incremental costs related to the Company's acquisition activity, and $5.6 million in adjustments to contingent consideration related to the acquisition of MARCO. Excluding these items in both quarters, adjusted earnings from operations were $85.8 million (14.2% margin), compared to $49.5 million (12.4% margin) a year ago. Contributions from acquired companies were $13.3 million, with SP contributing $8.5 million and BioDot contributing $4.3 million. Fourth quarter fiscal 2022 adjusted earnings from operations reflected higher gross margin due to efficiency gains made in the Company's cost structure resulting from previously implemented reorganizations, improved program execution, increased revenues from after-sales services, as well as a reduction in COVID-19 travel, entry restrictions and temporary closures at customer sites compared to a year ago. Depreciation and amortization expense was $32.5 million in the fourth quarter of fiscal 2022, compared to $17.4 million a year ago. The increase was primarily due to the addition of identifiable intangible assets recorded on the acquisitions of CFT, BioDot and SP. EBITDA was $92.3 million (15.3% EBITDA margin) in the fourth quarter of fiscal 2022 compared to $60.2 million (15.1% EBITDA margin) in the fourth quarter of fiscal 2021. EBITDA for the fourth quarter of fiscal 2022 included $1.9 million of restructuring charges, $1.4 million of incremental costs related to the Company's acquisition activity, $5.2 million of acquisition-related inventory fair value charges and $1.7 million in adjustments to contingent consideration on the acquisition of MARCO. EBITDA for the corresponding period in the prior year included $4.2 million of incremental costs related to the Company's acquisition activity and $5.6 million in adjustments to contingent consideration on the acquisition of MARCO. Excluding these costs, adjusted EBITDA was $99.1 million (16.4% adjusted EBITDA margin), compared to $58.8 million (14.7% adjusted EBITDA margin) a year ago. Higher adjusted EBITDA margin reflected operating improvements including to the Company's cost structure and less pronounced pandemic inefficiencies than in the same period a year ago. EBITDA margin is a Non-IFRS ratio; see "Non-IFRS and Other Financial Measures." Order Backlog Continuity(In millions of dollars) Q4 2022 Q4 2021 Fiscal 2022 Fiscal 2021  Opening Order Backlog $       1,475 $          985 $       1,160 $         942 Revenues (603) (400) (2,183) (1,430) Order Bookings 638 463 2,456 1,626 Order Backlog adjustments1 (72) 112 5 22 Total $       1,438 $       1,160 $       1,438 $      1,160 1 Order Backlog adjustments include incremental Order Backlog of acquired companies ($104 million SP, $13 million NCC and $24 million BioDot included in fiscal 2022), foreign exchange adjustments, scope changes and cancellations. Order Bookings Fourth quarter fiscal 2022 Order Bookings were $638 million, a 37.8% year-over-year increase. This reflected organic growth of 1.0% and 39.5% growth from acquired companies, partially offset by a 2.7% decrease due to foreign exchange rate translation of Order Bookings by ATS' global subsidiaries, primarily reflecting the strengthening of the Canadian dollar relative to the Euro. Growth in Order Bookings from acquired companies totalled $182 million, of which CFT contributed $81 million and SP contributed $66 million. By market, Order Bookings in life sciences increased due to the addition of SP. Order Bookings in food & beverage increased due to the addition of CFT. Order Bookings in consumer products increased due to the combination of acquired companies and the timing of customer projects. Organic growth was offset by lower Order Bookings in transportation compared to a year ago, when the Company secured a large EV program, and lower Order Bookings in energy due to timing of customer projects. BacklogAt March 31, 2022, Order Backlog was $1,438 million, 24.0% higher than at March 31, 2021. Order Backlog growth was primarily driven by higher Order Bookings in fiscal 2022 in all end markets, and Order Backlog from acquired businesses. OutlookThe Company's funnel (which includes customer requests for proposal and ATS-identified customer opportunities) remains significant; however, as pandemic restrictions have eased in some geographies, persistent supply constraint pressures and inflation contribute to a fluid and uncertain operating environment. These factors may impact the timing to convert opportunities into Order Bookings and may present increased pressure on future results. By market, the life sciences funnel remains robust as a result of strong activity in medical devices, pharmaceuticals and radiopharmaceuticals. Funnel activity in food & beverage is robust and with the addition of CFT, the Company has enhanced its exposure to opportunities in this market. In transportation, the funnel largely includes strategic opportunities related to electric vehicles, a growing market. Funnel activity in energy is stable and comprised of some opportunities being developed over the longer term. Funnel activity in consumer products has improved; however, management expects some customers to remain cautious in deploying capital in the current economic environment. Funnel growth in markets where environmental, social and governance ("ESG") requirements are an increasing focus for customers, including grid battery storage, electric vehicle ("EV") and nuclear, as well as consumer goods packaging, provide ATS with opportunities to use its capabilities to respond to customer sustainability standards and goals. Customers seeking to de-risk or enhance the resiliency of their supply chains also provide future opportunities for ATS to pursue. Order Backlog of $1,438 million is expected to mitigate some of the impact of quarterly variability in Order Bookings on revenues in the short term. The Company's Order Backlog includes several large enterprise programs that have longer periods of performance and therefore longer revenue recognition cycles. In the first quarter of fiscal 2023, management expects the conversion of Order Backlog to revenues to be in the lower end of the 40% to 45% range. This estimate was calculated based on the combination of management's estimate of current projects in Order Backlog and expectations for revenues that will be booked and recognized within the period. The timing of customer decisions on larger opportunities is expected to cause variability in Order Bookings from quarter to quarter and lengthen the performance period and revenue recognition for certain customer programs. Revenue in a given period is dependent on a combination of the volume of outstanding projects the Company is contracted to, the size and duration of those projects, and the timing of project activities including design, assembly, testing, and installation. Given the specialized nature of the Company's offerings, the size and scope of projects vary based on customer needs. The Company seeks to achieve revenue growth organically and by identifying strategic acquisition opportunities that can provide access to attractive end markets and new products and technologies. The Company is working to grow its product portfolio and after-sales service revenues as a percentage of overall revenues over time, which is expected to provide some balance to the capital expenditure cycles of the Company's customers. Management is pursuing several initiatives to grow its revenues and improve its profitability with the goal of expanding its adjusted earnings from operations margin to 15% over the long term from 13.5% in fiscal 2022 (2021 – 11.4%). These initiatives include growing the Company's after-sales service business, improving global supply chain management, increasing the use of standardized platforms and technologies, growing revenues while leveraging the Company's cost structure, and pursuing continuous improvement in all business activities through the ABM. The Company continues to make progress in line with its plans to integrate businesses acquired over the last year and expects to realize cost and revenue synergies consistent with announced integration plans. In the short term, the global COVID-19 pandemic has disrupted global supply chains, leading to longer lead times and cost increases on certain raw materials and components used by the Company. To date the Company has largely mitigated these supply chain disruptions through the use of alternative supply sources and savings on materials not affected by cost increases. However, further cost increases or prolonged disruptions could impact the timing and progress of the Company's margin expansion efforts and the timing of revenue recognition. Achieving management's margin target assumes that the Company will successfully implement the initiatives noted above, and that such initiatives will result in improvements to its adjusted earnings from operations margin (see "Note to Readers: Forward-Looking Statements" for a description of the risks underlying the achievement of the margin target in future periods). COVID-19 resulted in governments worldwide enacting emergency measures to combat the spread of the virus beginning in March 2020 (just prior to the Company's fiscal 2021 year). These measures, which included the implementation of travel restrictions, quarantine periods and physical distancing requirements affected economies and disrupted business operations for ATS and its customers. While vaccination programs are underway and generally restrictions are easing across most countries, there is ongoing concern and uncertainty regarding potential new variants. As a result, it remains difficult to predict the duration or severity of the pandemic or its affect on the business, financial results and conditions of the Company. Furthermore, depending on the duration and severity of the COVID-19 pandemic, it may also have the effect of heightening many of the other business risks such as risks relating to the Company's supply chain (availability and cost of raw materials and components) and the successful on-time completion of customer contracts. Over the long term, the Company generally expects to continue investing in non-cash working capital to support the growth of its business, with fluctuations expected on a quarter-over-quarter basis. The Company's goal is to maintain its investment in non-cash working capital as a percentage of annualized revenues below 15%. The Company expects that continued cash flows from operations, together with cash and cash equivalents on hand and credit available under operating and long-term credit facilities will be sufficient to fund its requirements for investments in non-cash working capital and capital assets, and fund strategic investment plans including some potential acquisitions. Acquisitions could result in additional debt or equity financing requirements for the Company. Non-cash working capital as a percentage of revenues is a Non-IFRS ratio; see "Non-IFRS and Other Financial Measures." Quarterly Conference CallATS will host a conference call and webcast at 8:30 a.m. eastern on Thursday, May 19, 2022 to discuss its quarterly results. The listen-only webcast can be accessed live at www.atsautomation.com. The conference call can be accessed live by dialing (416) 764-8659 five minutes prior. A replay of the conference will be available on the ATS website following the call. Alternatively, a telephone recording of the call will be available for one week (until midnight May 26, 2022) by dialing (416) 764-8677 and entering passcode 552564 followed by the number sign. About ATSATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, food & beverage, transportation, consumer products, and energy. Founded in 1978, ATS employs over 6,000 people at more than 50 manufacturing facilities and over 75 offices in North America, Europe, Southeast Asia and China. Consolidated Revenues(In millions of dollars) Revenues by type Q4 2022 Q4 2021 Fiscal 2022 Fiscal 2021 Revenues from construction contracts $       355.6 $      258.1 $    1,359.7 $       895.1 Services rendered 136.3 109.7 485.7 413.3 Sale of goods 111.3 32.1 337.3 121.6 Total revenues $       603.2 $      399.9 $    2,182.7 $    1,430.0 Revenues by market Q4 2022 Q4 2021 Fiscal 2022 Fiscal 2021 Life Sciences $       320.3 $      228.7 $    1,113.0 $       805.4 Food & Beverage 95.2 9.8 395.0 35.0 Transportation 78.6 67.3 293.8 272.3 Consumer Products 82.9 60.1 269.0 203.2 Energy 26.2 34.0 111.9 114.1 Total revenues $       603.2 $      399.9 $    2,182.7 $    1,430.0 Revenues by customer location Q4 2022 Q4 2021 Fiscal 2022 Fiscal 2021 North America $       333.3 $      198.5 $    1,114.3 $       687.6 Europe 207.3 140.3 822.9 567.8 Asia/Other 62.6 61.1 245.5 174.6 Total revenues $       603.2 $      399.9 $    2,182.7 $    1,430.0 Consolidated Operating Results(In millions of dollars) Q4 2022 Q4 2021 Fiscal 2022 Fiscal 2021 Earnings from operations $         59.8 $         42.8 $       186.6 $       119.6 Amortization of acquisition-related intangible assets 19.2 8.1 63.9 33.5 Acquisition-related transaction costs 1.4 4.2 12.0 6.7 Acquisition-related inventory fair value charges 5.2 –– 25.7 –– Gain on sale of facility –– –– –– (5.3) Contingent consideration adjustment (1.7) (5.6) (1.7) (5.6) Restructuring charges 1.9 –– 5.9 14.3 Adjusted earnings from operations1 $         85.8 $         49.5 $       292.4 $       163.2 1Non-IFRS Financial Measure, See "Non-IFRS and Other Financial Measures"   Q4 2022 Q4 2021 Fiscal 2022 Fiscal 2021 Earnings from operations $         59.8 $         42.8 $       186.6 $      119.6 Depreciation and amortization 32.5 17.4 115.4 71.0 EBITDA1 $         92.3 $         60.2 $       302.0 $      190.6 Restructuring charges 1.9 –– 5.9 14.3 Acquisition-related transaction costs 1.4 4.2 12.0 6.7 Acquisition-related inventory fair value charges 5.2 –– 25.7 –– Gain on sale of facility –– –– –– (5.3) Contingent consideration adjustment (1.7) (5.6) (1.7) (5.6) Adjusted EBITDA.....»»

Category: earningsSource: benzingaMay 19th, 2022

Greenbacker delivers first quarter results

Key Takeaways Operational capacity almost doubled, supporting substantial production and revenue increases. Fleet expanded by more than 100 new assets, representing an additional 1.5 gigawatts. Investments nearly doubled in value. Company's net assets reached a record high, surpassing $1.5 billion. Acquisitions expanded energy storage portfolio into a new segment: battery assets in development. Company's investments continued to support carbon abatement, water conservation, and green jobs. NEW YORK, May 18, 2022 (GLOBE NEWSWIRE) --  Greenbacker Renewable Energy Company LLC ("Greenbacker," "GREC," or the "Company"), a leading owner and operator of sustainable infrastructure and energy efficiency projects, has announced financial results for the first quarter of 2022. Year-over-year trends—comparing the first quarter of 2022 with the first quarter of 2021—showed considerable growth across fleet size, production, revenue, and portfolio value.1 The Company also announced it had entered a new area of the energy storage market, expanding its operational standalone battery storage portfolio to include storage assets in development. Operational capacity almost doubled, supporting substantial production and revenue increases The power-generation capacity of Greenbacker's operating fleet nearly doubled, growing 85% on a year-over-year basis. The Company added 504 megawatts (MW) of operational assets, moving under-construction projects into commercial operation and acquiring new operating projects. This capacity growth enabled the Company's fleet of clean energy projects to produce over half a million megawatt-hours (MWh) of total power during the first quarter of 2022, representing a 56% year-over-year increase. Greenbacker's total quarterly revenue from the sale of renewable energy and renewable energy credits topped $34.8 million, an increase of 70% from the first quarter of 2021. (For precise figures, please see Appendix at the end of this release). Fleet expanded by more than 100 new assets, representing an additional 1.5 gigawatts Since the end of the first quarter of 2021, Greenbacker added 111 net new assets to its fleet of renewable energy projects, expanding the Company's total project count to over 400.2 These assets added over 1.2 gigawatts (GW) of clean power–generating capacity to the fleet, which now exceeds 2.6 GW, an increase of 94%. (This figure includes both operating and pre-operational assets.) The new projects also expanded Greenbacker's geographical footprint, with assets in six additional states: Illinois, Ohio, Rhode Island, Washington, Wisconsin, and Wyoming. As of the end of the quarter, GREC was conducting business in 32 states, Canada, Puerto Rico, and Washington DC. Investments nearly doubled in value The fair value3 of Greenbacker's investments4 increased 94% year over year, topping $1.5 billion at the end of the period. The Company deployed $183.9 million of capital into new or existing investments during the first quarter of 2022, a year-over-year increase of 8.3%. Company's net assets reached a record high, surpassing $1.5 billion Greenbacker raised $104.6 million of new equity capital during the first quarter, boosting the Company's net assets5 to over $1.5 billion. This is a year-over-year increase of 55%. Charles Wheeler, CEO of Greenbacker, said: "We continue to build out our presence in the renewable energy asset class. We recently announced our first development-stage assets in the energy storage space, a sector critical to grid resilience. This expansion enables us to deliver more clean power to consumers and greater value for our investors." Acquisitions expanded energy storage portfolio into a new segment: battery assets in development During the quarter, GREC announced it had closed an acquisition that included three portfolios: one pre-operational energy storage portfolio in New York City and two community solar portfolios in Illinois and Maine. The New York City acquisition is Greenbacker's first in a new market segment. The Company's operational battery storage portfolio now includes its first two assets in development. Once complete, the pair of standalone battery storage projects on Staten Island will have a total power capacity of 10 MW and be able to store up to 40 MWh of energy. At least 50% of the customer base for the 12 MW community solar portfolio in Illinois will be allocated to small subscribers, contributing to more equitable access to renewable energy. The projects will also provide income to local landowners through long-term land leases. The three solar projects in the Maine portfolio are each preapproved for the state's Net Energy Billing program (capped in early 2021), which encourages renewables use by allowing consumers to offset their electric bills by the net amount of clean energy they generate on their property or use from community systems. Company's investments continued to support carbon abatement, water ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaMay 18th, 2022

AECOM (ACM) Wins NJ TRANSIT"s Zero-Emissions Bus Contract

AECOM's (ACM) contract with NJ TRANSIT will help the latter to accelerate the adoption of zero emissions technologies. AECOM ACM has inked a contract with NJ TRANSIT to design the infrastructure needed for its Bus Garage Modernization Program. Notably, NJ TRANSIT’s Bus Garage Modernization Program comprises the enhancement of the existing facilities and infrastructure to support accommodation of a zero-emissions fleet.This infrastructure consulting firm’s shares rose 1.3% during the trading session on May 16 and 2.8% in the after-hour trading session on the same day.Per the contract, AECOM will facilitate NJ TRANSIT with its engineering services for battery and electric buses at NJ TRANSIT’s Hilton Garage in Maplewood and conduct a survey of current conditions at 16 bus garages statewide.AECOM will provide conceptual, preliminary, and final engineering and construction assistance to prepare Hilton Garage for a limited deployment of electric buses. The company will conduct a systemwide bus garage survey to detect potential improvements related to facility expansion, roof strengthening for solar systems and equipment, power supply upgrades, and installation of new technologies, including bus charging equipment.Jennifer Aument, chief executive of AECOM’s global Transportation business, said, “With increased investment in infrastructure that helps realize the social, economic, and environmental benefits of a decarbonized future, we’re proud to support our clients by delivering advanced solutions that accelerate the adoption of zero-emissions technologies.”Infrastructural Push Aids AECOMAECOM is a leading solutions provider of professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and environmental, energy and water businesses. The major part of the U.S. government’s broad infrastructural plan is focused on transit and water markets, wherein AECOM enjoys a dominant position.This leading professional, technical and management solution provider is witnessing a robust pipeline of pursuits across the business. It is benefiting from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.Among major industry bellwethers, AECOM appears to be highly attractive to investors. Shares of the company have outperformed the Zacks Engineering - R and D Services industry in the past six months. Image Source: Zacks Investment ResearchAECOM has been banking on strength across core transportation, water, and environment markets and a solid backlog. Furthermore, its focus on Environmental, Social and Governance or ESG-related services and digital initiatives are encouraging.Zacks RankAECOM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.3 Construction Stocks Hogging the LimelightOther top-ranked stocks, which warrant a look in the Construction sector, include Patrick Industries PATK, Beazer Homes USA BZH and NVR, Inc. NVR, each sporting a Zacks Rank #1.Patrick Industries is a leading component solutions provider for the RV, marine, and manufactured housing industries. Patrick Industries, like many others in the broader RV and consumer marine space, is amid a massive run for revenue growth that began about a decade ago.Patrick Industries’ expected earnings growth rate for 2022 is 36.7%. The Zacks Consensus Estimate for current-year earnings has improved 19.7% over the past 30 days.Beazer Homes designs, builds and sells single-family homes. BZH designs homes to appeal primarily to entry-level and first move-up homebuyers. Beazer Homes USA’s objective is to provide customers with homes that have quality and value. BZH’s subsidiary, Beazer Mortgage, originates the mortgages for the company's homebuyers.Beazer Homes’ expected earnings growth rate for fiscal 2022 is 48.9%. The Zacks Consensus Estimate for current-year earnings has improved 15% over the past 30 days.NVR is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis. In order to serve homebuilding customers, NVR operates a mortgage banking and title services business. NVR operates in two business segments: Homebuilding and Mortgage Banking.NVR’s expected earnings growth rate for the current year is 68.4%. The Zacks Consensus Estimate for current-year earnings has improved 20.4% over the past 30 days. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AECOM (ACM): Free Stock Analysis Report Beazer Homes USA, Inc. (BZH): Free Stock Analysis Report NVR, Inc. (NVR): Free Stock Analysis Report Patrick Industries, Inc. (PATK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksMay 17th, 2022

Lithium battery materials shortages add pressure to EV makers

The rapid growth of electric vehicles (EVs) and energy storage systems has intensified the short supply of lithium batteries, while battery materials prices are being further pushed up by manufacturers' overbooking of materials, according to Chinese media reports......»»

Category: topSource: digitimesMay 16th, 2022

Enphase (ENPH) Extends Its Product Offerings in Missouri

Enphase Energy (ENPH) announces that Missouri has recorded the increased adoption of the Enphase Energy System, powered by IQ Microinverters and IQ Batteries. Enphase Energy, Inc. ENPH recently revealed that Missouri is witnessing the increased adoption of the Enphase Energy System, powered by IQ Microinverters and IQ Batteries. Such increased demand for a clean reliable storage solution among homeowners is driven by extreme weather conditions.Missouri homeowners’ adoption of Enphase’s revolutionary IQ8 Microinverters highlights the growing importance of its latest launch and an opportunity to boost its revenue generation prospects.Enphase Energy’s Growth Prospects in MissouriTo meet clean energy and decarbonization goals, Missouri is increasingly taking measures to encourage the development of solar projects. In this context, it is imperative to mention that apart from the federal Investment Tax Credit, Missouri offers additional incentives and rebates for solar installations as well as solar property tax exemption.This undoubtedly highlights the growing importance of solar-based energy in the region and subsequently the abounding opportunities for the battery storage market.Moreover, per the U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie, the residential battery capacity in Missouri is projected to witness nearly 14-fold growth by the end of 2026.Such a solid growth projection boasts tremendous opportunitiesfor solar companies like Enphase Energy to further expand in the market with innovative products.U.S. Battery Storage Market BoomEnergy storage offers more flexibility and resilience for a grid to function more efficiently and effectively. To this end, the U.S battery storage market is likely to increase manifold as the nation increasingly penetrates the solar power energy market for energy needs.Per the report from the U.S. Energy Information Administration, the United States may witness battery storage to increase by 10 gigawatts by the end of 2023.Such upbeat prospects stand to benefit companies like ENPH to further solidify their presence in the market and strategically grow through their product offerings. Considering the boom in the battery solar market, several solar majors have started to foray into the lucrative battery solar market.In November 2021, SolarEdge Technologies, Inc. SEDG launched its residential battery, the SolarEdge energy bank. This is a 10-kilowatt single-phase battery that integrates with its SolarEdge energy hub family of inverters. Some of the existing SolarEdge systems can be upgraded with a storage solution for backup or on-grid maximum self-consumption use.SolarEdge boasts a long-term earnings growth rate of 28.5%. The Zacks Consensus Estimate for SEDG’s 2023 earnings indicates a 38.9% improvement over the prior-year quarter’s reported figure.In March 2022, SunPower SPWR announced that its residential battery storage system, SunVault Storage, with 26-kilowatt hour (kWh) and 52 kWh configurations, is now capable of providing whole-home backup services for customers without sacrificing essentials or comfort during an outage. The installation of the new Sunvault will begin in June 2022.The Zacks Consensus Estimate for SunPower’s 2023 earnings has been revised upward by 30.2% in the past 60 days.SunRun’s RUN Bright box provides uninterrupted backup power for the entire home. It also excels in providing electricity during peak demand times, thus buffering customers from high rates.The Zacks Consensus Estimate for SunRun’s 2023 earnings indicates a growth rate of 1.7% from the prior-year reported figure.Price MovementIn the past year, shares of Enphase Energy have rallied 22.9% against the industry’s decline of 24.2%.Image Source: Zacks Investment ResearchZacks RankEnphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksMay 13th, 2022

Former Tesla Engineer Aims To Build Next Generation Electric Battery Material Plant In The US By 2024

Former Tesla Engineer Aims To Build Next Generation Electric Battery Material Plant In The US By 2024 Authored by Bryan Jung via The Epoch Times (emphasis ours), Sila Nanotechnologies, a battery startup founded in 2011 by a former Tesla engineer, announced on May 3 plans for a new plant based in the United States that will mass-produce material for low-cost next-generation batteries with a longer range and is not dependent on manufacturing in China. “In a commitment to ensure America retains global leadership in the world’s transition to the new energy storage era, Sila, a next-generation battery materials company, today announced the purchase of a facility with more than 600,000 square feet of space located in Moses Lake, WA to be used to manufacture Sila’s breakthrough lithium-ion anode materials at automotive volumes and quality,” announced the company in a May 3 press release. “Powered with hydropower, the facility is located on 160-acres of land close to rail lines for convenient and efficient shipping,” said Sila. Electric vehicle lithium battery pack at a factory. (Sergii Chernov/Adobe Stock) Sila’s CEO Gene Berdichevsky told Reuters that the company will invest a few hundred million dollars to build the new factory in Washington state, which is set to open in the second half of 2024, with full production beginning in early 2025. The cost of electric car batteries has yet to fall to a more affordable price as was earlier anticipated, when Tesla jump-started the demand for batteries after its founding in 2003, due to material situations, explained the CEO to Reuters. Berdichevsky said that his materials could be used to build up to 500,000 chips, which would help lower the cost to consumers, making electric vehicles less expensive. The battery company had raised an additional $590 million in 2021, raising its valuation to an estimated $3.3 billion. “The U.S. has always excelled at innovation. Now we must also excel at manufacturing that innovation,” said Berdichevsky, who said that his company “is delivering proven next-generation anode materials today.” “Our new Washington state plant builds on that momentum offering the manufacturing capacity to meet the needs of our auto partners on their way to a fully electric future. We’ve been working towards automotive quality standards and scale since our start to ensure longer range, faster charge times, and lower battery cost.” “With this scale-up, we have a pivotal piece to realize the full potential of next-generation materials at the volumes required to make a global impact,” Berdichevsky concluded. The battery CEO said that Sila’s new plant in Moses Lake would make silicon-based anode materials, which he claims can store 20 percent more energy than anodes that typically use graphite, of which 70 percent comes from an increasingly unreliable China. Graphite is considered by the U.S. government to be a strategic mineral, but not silicon, which can be found largely domestically. The Biden administration has said it aims to reduce American reliance on China in the battery supply chain. Sila claims that its silicon anode allows more lithium ions to be stored in batteries, thus increasing energy density and creating a battery that is cheaper and contains more energy in the same space. Tesla’s CEO Elon Musk announced a plan in 2020 to use silicon-based anodes in its new batteries, but it is not certain whether it has taken advantage of the new technology. Sila is currently operating a test production facility at its headquarters in Alameda, California, that can produce battery materials for about 1,000 cars a year, but it is currently limited to making materials used in fitness watches. Berdichevsky said the company’s new facility aims to deliver annual silicon-based anode production sufficient to power 10 gigawatt hours of batteries in 100,000 electric vehicles, with a goal to increase the capacity of “150 GWh of cells when used as a full graphite replacement or 750 GWh as a partial replacement—enough to power two to ten million electric vehicles per year.” He said that Sila will address the immediate issue of rapidly expanding production to meet the needs of automakers. German automaker Daimler AG, meanwhile, has put a minority equity stake in Sila, which also has a contract to produce electric battery materials with its rival, BMW. Reuters has contributed to this report. Tyler Durden Fri, 05/06/2022 - 19:40.....»»

Category: worldSource: nytMay 6th, 2022

Dallas-based Stream Realty announces joint development of clean energy projects across US

Boulder-based Catalyze develops, builds, owns and operates solar, battery storage and electric vehicle (EV) charging systems for commercial and industrial customers......»»

Category: topSource: bizjournalsApr 22nd, 2022

Enphase"s (ENPH) Storage Products See Hiked Adoption in Iowa

Enphase Energy (ENPH) unveils that Iowa has been increasingly adopting its products as homeowners look for a reliable and resilient storage solution. Enphase Energy, Inc. ENPH recently revealed that Iowa is witnessing the increased adoption of the Enphase Energy System, powered by IQ Microinverters and IQ Batteries, as homeowners look for a reliable and resilient storage solution amid the rising power outages.Enphase Energy has been rapidly expanding in the United States with its new family of IQ8 microinverters and batteries. Before this development, ENPH recorded the increased deployment of its products in Nevada, implying the increased importance and adoption of the company’s products in the U.S. battery storage market.Growth Prospects of Enphase Energy in IowaIowa has been witnessing an exponential growth in solar capacity additions. Additionally, several policies favoring the expansion of solar-based energy have been further fueling the growth of the solar market in the region. The increased penetration of the solar market gives a platform for growth to the battery storage market as well.The region boasts the residential battery capacity in Iowa to expand tenfold by 2026, per the U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.Considering the growth prospects of the battery storage market in Iowa, the recent increased deployment of Enphase Energy’s products in the region exemplifies the company’s growing customer base, thereby opening avenues for Enphase Energy to further expand and capitalize on the growing market. This, in turn, should boost its revenue generation prospects.U.S. Solar Market Boom & Peer MovesThe transition to renewable sources of energy is gradually gaining momentum in the United States. Per the latest short-term energy outlook by the U.S. Energy Information Administration (EIA), the addition of utility-scale solar capacity is expected to be 20 GW in 2022 and 24 gigawatt (GW) in 2023. Moreover, the EIA also expects solar additions to constitute approximately half of the new electric generating capacity in 2022.The abounding growth prospects of the solar energy market embody solid expansion opportunities for battery storage makers like ENPH. Other solar players who stand to benefit and capitalize on the expanding U.S. battery storage market are SunPower SPWR, SunRun RUN and Canadian Solar CSIQ.In March 2022, SunPower announced that its residential battery storage system, SunVault Storage, with 26-kilowatt hour (kWh) and 52 kWh configurations, is now capable of providing whole-home backup services for customers without sacrificing essentials or comfort during an outage. The installation of the new Sunvault in the United States will begin in June 2022.The Zacks Consensus Estimate for SunPower’s 2022 earnings suggests growth of a solid 385.7% from the prior-year figure. Shares of SPWR have rallied 7.8% in the past three months.In May 2021, SunRun announced its partnership with Ford Motor Company to serve as the preferred installer for Ford Intelligent Backup Power, debuting on the all-electric F-150 Lightning. Through this partnership, customers will also be provided with the opportunity to install a solar and battery system in their homes, enabling them to power their households with clean energy.The Zacks Consensus Estimate for SunRun’s 2022 sales indicates a growth rate of 8.3% from the prior-year reported figure. The Zacks Consensus Estimate for RUN’s 2022 earnings suggests an improvement of 10.3% from the prior-year reported figure.In April 2022, Canadian Solar sold its Gaskell West 2 and 3 solar-plus-storage projects in California to Matrix Renewables. It has a generation capacity of 105 megawatt-alternate current plus 80 megawatt-hour energy storage.The Zacks Consensus Estimate for Canadian Solar’s 2022 sales indicates a 37.7% improvement over the prior-year quarter’s reported figure. CSIQ shares have rallied 26.9% in the past three months.Price MovementIn the past year, shares of Enphase Energy have rallied 35% against the industry’s decline of 22.2%.Image Source: Zacks Investment ResearchZacks RankEnphase Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top buy-and-hold tickers for the entirety of 2022? Last year's 2021 Zacks Top 10 Stocks portfolio returned gains as high as +147.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buysAccess Zacks Top 10 Stocks for 2022 today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canadian Solar Inc. (CSIQ): Free Stock Analysis Report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 18th, 2022

US probe of LGES cells an alert for EV and energy storage developers

A US investigation into alleged defects of LG Energy Solutions (LGES) battery cells has renewed attention to the safety risks of lithium-ion batteries, an issue that is relevant to electric vehicles (EVs) as well as energy storage systems, according to industry sources......»»

Category: topSource: digitimesApr 11th, 2022

Flex"s (FLEX) Romania Factory to Build Enphase"s Microinverters

The expanded manufacturing agreement between Flex (FLEX) and Enphase underscores their mutual commitment to provide superior quality microinverters to address Europe's solar industry needs. Flex Ltd FLEX recently expanded its 15-year partnership with microinverter supplier Enphase Energy, Inc. ENPH for boosting the latter’s global manufacturing capacity. Per the agreement, beginning the first quarter of 2023, Flex’s new manufacturing site in Timisoara, Romania, will commence manufacturing Enphase microinverters for the European market.Enphase is a global energy technology company that delivers energy management technology for the solar industry. It designs, develops, manufactures and sells home energy solutions, which connect energy generation, energy storage and control and communications management on one intelligent platform. The company transformed the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Microinverters remain this California-based company’s legacy product. Enphase has shipped more than 42 million microinverters and approximately 1.9 million Enphase-based systems have been deployed in more than 130 countries.Flex’s manufacturing factory in Romania will enable Enphase to augment its global capacity and improve the delivery timeline for its customers in Europe. This will help address the region’s rapid growth and demand for residential solar on account of surging energy prices and the increased transition to electric vehicles (EV) and heat pump technology. This deal will provide more clean energy technology like solar and batteries across Europe, thereby providing greater energy security for consumers as the dependence on fossil fuels continues to decline.Amid the heightening climate change concerns, countries are setting ambitious new targets to help accelerate the transition to a more electrified future. Amid this scenario, the latest agreement will prove a revolutionary deal for providing clean energy in Europe and across the globe. Enphase is highly optimistic about this expanded manufacturing agreement, which will help meet the soaring demand for green energy with its leading solar, battery, and EV charging solutions.For Flex, this augmented relationship with Enphase underscores their mutual commitment to providing superior quality and reliable microinverter-based systems to address Europe’s solar industry needs. The new factory's initial production and planned capacity are still under the wraps.Prospects Bright for FLEXSingapore-based Flex is a provider of “Sketch-to-Scale” services to original equipment manufacturers (OEMs). The company provides end-to-end services i.e. designing, engineering, manufacturing, as well as supply-chain services & solutions.The company benefits from strength across the Agility Solutions and Reliability Solutions segments along with a solid end-market focus on the back of emerging opportunities.Flex’s diversified portfolio with an increased focus on end-markets like 5G, converged enterprise and cloud bodes well. The company is also likely to gain from robust momentum seen in Artificial Intelligence (AI), augmented & virtual reality (AR/VR), Industrial automation, autonomous/connected cars and other upcoming technologies.Moreover, based on its growing intellectual property (IP) portfolio, the company is well-positioned to address the need of customers who are looking to leverage the proliferation of advanced technologies.Driven by strong demand across its segments, the company recently reaffirmed its fourth quarter and fiscal 2022 guidance at its virtual investor day, which bodes well for the future. For the fiscal fourth quarter, Flex continues to expect revenues between $6.2 billion and $6.6 billion. Adjusted earnings are expected in the 41-46 cents per share band, while GAAP earnings per share (EPS) are estimated in the range of 32-37 cents.For fiscal 2022, Flex continues to expect revenues between $25.4 billion and $25.8 billion. This reflects 6% year-over-year growth at the midpoint. Adjusted earnings are expected in the $1.85-$1.90 per share band, while GAAP EPS is estimated in the range of $1.90-$1.95.Shares of FLEX have declined 6.1% in the past year compared with the industry’s fall of 20.2%.Image Source: Zacks Investment ResearchZacks Rank & Other Key PicksFlex currently carries a Zacks Rank of 2 (Buy).Other top-ranked from the broader technology space include Bel Fuse BELFB and Iridium Communications IRDM. While Bel Fuse flaunts a Zacks Rank of 1 (Strong Buy), Iridium carries a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank stocks here.Bel Fuse has a projected earnings growth rate of 3.65% for 2023. The Zacks Consensus Estimate for Bel Fuse’s 2023 earnings has been unchanged in the past 30 days.Bel Fuse’s first-quarter 2022 EPS is estimated at 22 cents,suggestingyear-over-year growth of 195.65%. Shares of BELFB have lost 17% in the past year.Iridium has a projected earnings growth rate of 157.14% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by 2 cents in the past 60 days.Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met estimates twice, the average surprise being 39.4%. Shares of IRDM have gained 3.1% in the past year. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Flex Ltd. (FLEX): Free Stock Analysis Report Iridium Communications Inc (IRDM): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report Bel Fuse Inc. (BELFB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 7th, 2022

These Were The Ten Best Performing Mid-Cap Stocks In March 2022

Mid-cap stocks are those that fall between small and large-cap companies. These stocks have a market capitalization ranging from $2 billion to $10 billion. Many investors tend to overlook these stocks for higher returns from small-cap stocks and stability from large-cap stocks. However, mid-cap stocks could offer a mix of both stability and return. To […] Mid-cap stocks are those that fall between small and large-cap companies. These stocks have a market capitalization ranging from $2 billion to $10 billion. Many investors tend to overlook these stocks for higher returns from small-cap stocks and stability from large-cap stocks. However, mid-cap stocks could offer a mix of both stability and return. To give you an idea of the returns you can get from such stocks, discussed below are the ten best performing mid-cap stocks in March 2022. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q4 2021 hedge fund letters, conferences and more Ten Best Performing Mid-Cap Stocks In March 2022 We have used the March return numbers of mid-cap stocks (from finviz.com) to come up with the ten best performing mid-cap stocks in March 2022. Following are the ten best performing mid-cap stocks in March 2022: ChargePoint Holdings (41%) Founded in 2007 and headquartered in Campbell, Calif., this company offers an electric vehicle charging network. ChargePoint Holdings Inc (NYSE:CHPT) also has Cloud Services that help users to locate and reserve electric vehicle charging sessions. Its shares are up over 2% YTD but are down almost 32% in the past one year. ChargePoint Holdings shares are presently trading over $19, and it has a 52-week range of $11.21 and $36.86. It posted revenue of more than $240 million in 2021. Oscar Health (42%) Founded in 2012 and headquartered in New York, it is a health insurance company that offers its services through a technology platform. Oscar Health Inc (NYSE:OSCR)'s shares are up over 19% YTD but are down over 60% in the past one year. Oscar Health shares are presently trading over $9.40, and it has a 52-week range of $5.72 and $29.70. It posted revenue of more than $1.80 billion in 2021 and over $460 million in 2020. Nikola (42%) Founded in 2015 and headquartered in Phoenix, this company offers zero-emissions transportation and infrastructure solutions by developing battery-electric and hydrogen-electric vehicles, energy storage systems and more. Its shares are up over 1% YTD but are down over 18% in the past one year. Nikola Corp (NASDAQ:NKLA) shares are presently trading over $10, and it has a 52-week range of $6.41 and $19.52. Comstock Resources (42%) Founded in 1919 and headquartered in Frisco, Texas, this company acquires, develops and explores oil and natural gas. Comstock Resources Inc (NYSE:CRK) operations are primarily located in Haynesville shale. Its shares are up over 70% YTD and over 150% in the past one year. Comstock Resources shares are presently trading over $14, and it has a 52-week range of $4.67 and $14.38. It posted revenue of more than $1.80 billion in 2021 and over $850 million in 2020. PBF Energy (43%) Founded in 2008 and headquartered in Parsippany, N.J., it operates as a petroleum refiner and makes available unbranded transportation fuels, lubricants, heating oil, petrochemical feed stocks, and other petroleum products. PBF Energy Inc (NYSE:PBF)'s shares are up over 96% YTD and almost 73% in the past one year. PBF Energy shares are presently trading over $25, and it has a 52-week range of $7.24 and $26.69. It posted revenue of more than $27 billion in 2021 and over $15 billion in 2020. FIGS (45%) Founded in 2013 and headquartered in Santa Monica, Calif., it is a healthcare apparel and lifestyle company that deals in lab coats, loungewear, under scrubs, compression socks footwear, masks and more. Figs Inc (NYSE:FIGS)'s shares are down over 18% YTD. FIGS shares are presently trading over $23, and it has a 52-week range of $13.04 and $50.40. EQRx (47%) Founded in 2019 and headquartered in Cambridge, Mass., it is a biotechnology company that focuses on re-engineering the drug discovery process so as to make them more affordable. Its shares are down over 38% YTD. EQRx Inc (NASDAQ:EQRX) shares are presently trading over $4, and it has a 52-week range of $2.6300 and $11.1000. CVR Energy (48%) Founded in 1906 and headquartered in Sugar Land, Texas, this company deals in petroleum refining and marketing. CVR Energy, Inc. (NYSE:CVI) has the following business segments: Petroleum and Nitrogen Fertilizer. Its shares are up almost 57% YTD and over 72% in the past one year. CVR Energy shares are presently trading over $26, and it has a 52-week range of $11.22 and $26.99. It posted revenue of more than $7.2 billion in 2021 and over $3.9 billion in 2020. Nielsen Holdings (53%) Founded in 1923 and headquartered in New York, this company offers global marketing data collection and analytics services. Nielsen Holdings PLC (NYSE:NLSN) has the following business segments: Connect, Media, and Corporate. Its shares are up over 33% YTD and over 9% in the past one year. Nielsen Holdings shares are presently trading over $27, and it has a 52-week range of $16.02 and $28.42. It posted revenue of more than $3.4 billion in 2021 and over $3.3 billion in 2020. SES AI (96%) Founded in 2012 and headquartered in Woburn, Wash., this company develops and produces high-performance Li-Metal rechargeable battery technology for EVs (electric vehicles) and other applications. SES AI Corp (NYSE:SES) shares are down over 10% YTD and almost 11% in the past one year. SES AI shares are presently trading over $8.50, and it has a 52-week range of $4.30 and $11.47. Updated on Apr 6, 2022, 10:07 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkApr 6th, 2022