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8point3 Energy Partners LP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2018 10-Q, filed Mar 28, 2018. Its latest SEC filing is a 15-12B from Jun 28, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Owned solar energy projects that sold electricity to utilities and businesses under long-term agreements and leased solar systems to homeowners.

How Did They Make Money?

The partnership earned fixed-price revenue from utilities and businesses as electricity was delivered under long-term agreements; homeowners made monthly lease payments for solar systems.

FY2017 revenue

Who Were Their Customers?

Utilities, commercial and institutional customers bought electricity under long-term agreements; homeowners leased solar systems.

Did Revenues Turn Into Profits?

Yes. It kept 16 cents of every revenue dollar as net income in FY2017.

Operating income, FY2017
34% of revenue
▲ +7% vs FY2016 ($22.2M, 36%)
Net income, FY2017
16% of revenue
▼ −58% vs FY2016 ($27.1M, 44%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q1 FY2018, the three months to Feb 28, 2018
Revenue
▲ +10%
vs $9.9M in Q1 FY2017
Net income
▲ +1055%
vs $861K in Q1 FY2017
  • Jun 20, 2018 Completed merger with Capital Dynamics affiliates The mergers were completed on June 19, 2018.
  • Apr 5, 2018 FirstEnergy filed for bankruptcy and sought to reject the Maryland solar contract The partnership expected a $40 million to $48 million impairment; if the agreement ended, future revenue was expected to decrease beginning January 1, 2020.

Grew. Revenue grew 7.6x in 3 years, from $9.2M in FY2014 to $70.1M in FY2017, about 97% a year.

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