Company Notes
January 25, 2023
Why Do We Say the 1Q23 Guide is What Matters? When looking at the period from 4Q22-to-1Q23, the avg. price decline, thus far, is: (a) -13.3% for the USA, (b) -10.5% for Europe, and (c)…
January 23, 2023
2022 Was a Good Year for Canadian Solar; 2023E Appears Set to be the Exact Opposite. In its most recent quarter, CSIQ reported rev/GAAP-EPS of $1.93B/$1.12 vs. Cons’ ests. of $1.86B/$0.30 (a material beat, at…
January 13, 2023
Last Night, as We Warned Would Happen on Monday of this Week, Tesla Engaged in Aggressive Price Cuts in Both the US and EU (as well as Canada). As detailed in Ex. 1 below, and…
January 10, 2023
Tesla’s China Demand Problems Appear to be Metastasizing (it seems, the company will need a bigger price cut). Early this morning, according to ZHU Yulong microblog, we learned that over the Jan. 2nd-to-Jan. 8th timeframe,…
January 9, 2023
Today, we Had the Chance to Catch up with the Head of US Sales from a Top-Three U.S. Solar Distribution Behemoth (details below). Early this morning, for the first time this new year, we had…
January 6, 2023
Are Tesla’s “Midnight Massacre” Chinese (and Japanese) Price Cuts Last Night Much Worse Than Feared? In short, yes. Why? Well, last night’s TSLA China price cuts (Ex. 1) come after: (a) factory production was cut…
January 5, 2023
Based on Details from Sunrun’s $835M Funding Announced Today, we Believe the Residential Solar Space is Looking at “Big Problems” in 2023E. Today, we learned that RUN closed a $835M funding round, consisting of a…
January 4, 2023
Exhibit 1: Sunrun Highlights Ongoing IRS Audit 11/2/22 Source: Page 32 of RUN’s 3Q22 10-Q filing. Exhibit 2: Whistleblower Process Timeline Source: irs.gov. Why Do we Believe Sunrun is Likely in Violation of Current IRS…