As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at renewable energy stocks, starting with SolarEdge (NASDAQ: SEDG).

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 17 renewable energy stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 5.8% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.6% since the latest earnings results.

SolarEdge (NASDAQ: SEDG)

Established in 2006, SolarEdge (NASDAQ: SEDG) creates advanced systems to improve the efficiency of solar panels.

SolarEdge reported revenues of $340.2 million, up 44.5% year on year. This print exceeded analysts’ expectations by 1.7%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ adjusted operating income and EBITDA estimates.

“We’re making steady progress in our turnaround, with three consecutive quarters of revenue growth and improving margins, and we’re not done yet,” said Shuki Nir, CEO of SolarEdge.

Unsurprisingly, the stock is down 4.2% since reporting and currently trades at $30.49.

Read our full report on SolarEdge here, it’s free for active Edge members.

Best Q3: Bloom Energy (NYSE: BE)

Working in stealth mode for eight years, Bloom Energy (NYSE: BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.

Bloom Energy reported revenues of $519 million, up 57.1% year on year, outperforming analysts’ expectations by 22.8%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 20.6% since reporting. It currently trades at $89.95.

Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Generac (NYSE: GNRC)

With its name deriving from a combination of “generating” and “AC”, Generac (NYSE: GNRC) offers generators and other power products for residential, industrial, and commercial use.

Generac reported revenues of $1.11 billion, down 5% year on year, falling short of analysts’ expectations by 6.6%. It was a disappointing quarter as it posted a miss of analysts’ Residential revenue estimates.

As expected, the stock is down 26.1% since the results and currently trades at $140.58.

Read our full analysis of Generac’s results here.

First Solar (NASDAQ: FSLR)

Headquartered in Arizona, First Solar (NASDAQ: FSLR) specializes in manufacturing solar panels and providing photovoltaic solar energy solutions.

First Solar reported revenues of $1.59 billion, up 79.7% year on year. This print was in line with analysts’ expectations. More broadly, it was a disappointing quarter as it produced full-year revenue guidance missing analysts’ expectations.

First Solar scored the fastest revenue growth among its peers. The stock is up 15.3% since reporting and currently trades at $269.43.

Read our full, actionable report on First Solar here, it’s free for active Edge members.

Fluence Energy (NASDAQ: FLNC)

Pioneering the use of lithium-ion batteries for grid storage, Fluence (NASDAQ: FLNC) helps store renewable energy sources with battery systems.

Fluence Energy reported revenues of $1.04 billion, down 15.2% year on year. This number missed analysts’ expectations by 24.8%. Aside from that, it was a mixed quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but full-year EBITDA guidance missing analysts’ expectations significantly.

Fluence Energy had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is up 27.3% since reporting and currently trades at $20.11.

Read our full, actionable report on Fluence Energy here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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