SolarCity Beats Market Expectations
SolarCity has beaten market expectations earning by posting a revenue of $ 114 million for the third quarter of 2015, originally anticipated to be around $ 111 million. There were many reasons which contributed to SolarCity’s increased revenues. The company saw increased number of installations and better system performance. The EPS (Earnings Per Share) of the company missed the targeted by a negligible margin of $ 0.46.
Some speculators may be looking at only the short term gains. However real investors who give due importance to long perspective of investing in a company will find SolarCity to have exciting prospects for the future. SolarCity is planning to add two new facilities and will be expanding a third in Maryland. It has already opened a warehouse in Lansdowne and successfully expanded Beltsville operations center to add a new training facility for the employees. The company has over 700 employees in Maryland and is going to add 100 more after the planned expansion. SolarCity has successfully lobbied the Baltimore County to change its technical standards for solar panels used for residential rooftops. The changes in these rules would allow homeowners to put more solar panels on their roofs. Similarly, the total amount of money allowed for homeowners to claim in tax refunds has also been increased significantly.