Sunnova Energy International Inc. (NYSE:NOVA) Q1 2020 Earnings Conference Call - Final Transcript

May 15, 2020 • 08:30 am ET

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Sunnova Energy International Inc. (NYSE:NOVA) Q1 2020 Earnings Conference Call - Final Transcript

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Operator
Operator

Good morning, and welcome to Sunnova's Q1 2020 Earnings Conference Call. Today's call is being recorded, and we have allocated an hour for prepared remarks and question and answer.

At this time, I would like to turn the conference over to Rodney McMahan, Vice President, Investor Relations at Sunnova. Thank you. Please go ahead.

Executive
Rodney McMahan

Thank you, operator, and good morning, everyone. Yesterday, we released our earnings press release and posted a slide presentation to the Investor Relations portion of our website at investors.sunnova.com, which will be referenced during this call. Joining me today are John Berger, Sunnova's Chairman and Chief Executive Officer; and Robert Lane, Executive Vice President and Chief Financial Officer.

Before we begin, let me remind everyone that this call may contain certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include remarks about future expectations, beliefs, estimates, plans and prospects. Such statements are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from those indicated or implied by such statements. Such risks and other factors are set forth in our press releases and filings with the Securities and Exchange Commission. We do not undertake any duty to update such forward-looking statements.

Additionally, during today's call, we will discuss non-GAAP measures, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the most comparable GAAP measure can be found in our earnings release.

I will now turn the call over to John.

Executive
William Jackson Berger

Good morning, and thank you for joining us for our Q1 2020 earnings call. Before discussing our quarterly results, let me start by saying, I hope you and your family have stayed safe and healthy through these unique and challenging times.

As everyone is aware, much has changed since our last earnings call, with the COVID-19 pandemic spreading across the globe creating a dual health and economic crisis. At Sunnova, we met the COVID-19 challenges head-on by first and foremost, ensuring the health and safety of our customers, employees and dealers while still delivering best-in-class service to our customers.

Second, we let our dealers do what they do best, which is to be innovative and entrepreneurial. They quickly created solutions to continue originating and installing solar energy systems, while remaining in compliance with all applicable health and safety guidelines. Third, we focused on ensuring the company had more than enough liquidity to make it through this crisis, however, long it may last. We implemented an aggressive cost-cutting plan and closed on several financing transactions Rob will expand upon later in the call.

Before getting too deep into the details, let me start out by saying that despite all the uncertainty in Q1, we were still able to deliver strong quarterly results. Thanks to these strong results as well