Looking back on renewable energy stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Array (NASDAQ: ARRY) and its peers.

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 mixed Q4. As a group, revenues missed analysts’ consensus estimates by 4.6% while next quarter’s revenue guidance was 0.6% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 22.7% since the latest earnings results.

Array (NASDAQ: ARRY)

Going public in October 2020, Array (NASDAQ: ARRY) is a global manufacturer of ground-mounting tracking systems for utility and distributed generation solar energy projects.

Array reported revenues of $275.2 million, down 19.4% year on year. This print exceeded analysts’ expectations by 2.8%. Despite the top-line beat, it was still a softer quarter for the company with full-year EBITDA guidance missing analysts’ expectations.

“ARRAY delivered strong fourth quarter and full year 2024 results, we exceeded the mid-point of our fourth quarter revenue guidance and achieved record gross margin on the full year.” said Chief Executive Officer, Kevin G. Hostetler.

The stock is down 35.9% since reporting and currently trades at $4.20.

Read our full report on Array here, it’s free.

Best Q4: 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 $572.4 million, up 60.4% year on year, outperforming analysts’ expectations by 12.8%. The business had an incredible quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Bloom Energy delivered the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The stock is down 21% since reporting. It currently trades at $18.18.

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

Weakest Q4: TPI Composites (NASDAQ: TPIC)

Founded in 1968, TPI Composites (NASDAQ: TPIC) manufactures composite wind turbine blades and provides related precision molding and assembly systems.

TPI Composites reported revenues of $346.5 million, up 16.7% year on year, falling short of analysts’ expectations by 5%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations.

As expected, the stock is down 43.9% since the results and currently trades at $0.81.

Read our full analysis of TPI Composites’s results here.

ChargePoint (NYSE: CHPT)

The most prominent EV charging company during the COVID bull market, ChargePoint (NYSE: CHPT) is a provider of electric vehicle charging technology solutions in North America and Europe.

ChargePoint reported revenues of $101.9 million, down 12% year on year. This print missed analysts’ expectations by 1.4%. In spite of that, it was a strong quarter as it produced an impressive beat of analysts’ EBITDA estimates.

The stock is down 8.2% since reporting and currently trades at $0.61.

Read our full, actionable report on ChargePoint here, it’s free.

Shoals (NASDAQ: SHLS)

Started in Huntsville, Alabama, Shoals (NASDAQ: SHLS) designs and manufactures products that make solar energy systems work more efficiently.

Shoals reported revenues of $107 million, down 18% year on year. This number beat analysts’ expectations by 4.9%. Taking a step back, it was a slower quarter as it logged full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.

The stock is down 23.8% since reporting and currently trades at $3.42.

Read our full, actionable report on Shoals here, it’s free.

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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