SolarCity says it had “an amazing year” in 2013, but delays earnings
SolarCity (s SCTY) ended 2013 on a high note. The solar installer on Monday said it completed 12 percent more projects last year than anticipated and cut installation cost by 30 percent.
We won’t have a complete picture of how well the California company did financially during its first full year as a public company until next Monday, though. SolarCity did say it grew its fourth-quarter revenue by 87 percent from the $47.3 million a year before. It could be a while before it posts profits.
Reasons for the delay include the amount of accounting work that still needs to be done for the two companies SolarCity bought last year.
The company, which makes money by selling leases to home and business owners and installing the solar equipment, is the largest residential solar company in the country, according to GTM Research. Home and business owners pay for the solar electricity…
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