Sunnova Energy International Inc. (NYSE:NOVA) Q1 2022 Earnings Conference Call April 28, 2022 8:00 AM ET
Company Participants
Rodney McMahan – Vice President-Investor Relations
John Berger – Chairman and Chief Executive Officer
Robert Lane – Executive Vice President and Chief Financial Officer
Conference Call Participants
Philip Shen – ROTH Capital
Brian Lee – Goldman Sachs
Julien Dumoulin-Smith – Bank of America
Joseph Osha – Guggenheim Partners
David Peters – Wolfe Research
Ben Kallo – Baird
Kasope Harrison – Piper Sandler
Maheep Mandloi – Crédit Suisse
Sean Morgan – Evercore
Pavel Molchanov – Raymond James
James Bardowski – GLJ Research
Operator
Good morning and welcome to Sunnova's First Quarter and Full Year 2022 Earnings Conference Call. Today’s call is being recorded. And we have allocated an hour for prepared remarks and questions and answers [Operator Instructions]
At this time, I would now like to turn the conference over to Rodney McMahan, Vice President of Investor Relations at Sunnova. Thank you. Please go ahead, sir.
Rodney McMahan
Thank you, operator.
Before we begin, please note during today's call we will make forward-looking statements that are subject to various risks and uncertainties that are described in our slide presentation, earnings press release, and our 2020 form 10-K. Please see those documents for additional information regarding those factors that may affect these forward-looking statements. Also, we will reference certain non-GAAP measures during today's call. Please refer to the appendix of our presentation as well as the earnings press release for the appropriate GAAP to non-GAAP reconciliations and cautionary disclosures.
On the call today are John Berger, Sunnova's Chairman and Chief Executive Officer and Robert Lane, Executive Vice President and Chief Financial Officer.
I will now turn the call over to John.
John Berger
Despite persistent macro-economic headwinds, we made excellent progress against our financial goals for the year by posting strong first quarter results, a summary of which can be found on Slide 3.
On our previous earnings call, we noted that we expected to capture approximately 12% of our full-year 2022 Adjusted EBITDA, combined with the principal and interest we collect from solar loans in the first quarter. I am happy to report we exceeded that target, as actual financial results were ahead of that goal. While our expenses have increased intotal, they have been in line with our expectations, and are necessary at this stage in our evolution to take full advantage of the incredible array of profitable growth opportunities that we increasingly find in front of us. Many of these growth opportunities are not baked into the Triple-Double Triple plan.