SUNation Energy reports Q2 EPS ($3.14) vs. ($11,022.91) last year

Reports Q2 revenue $13.1M vs. $13.5M last year. “In 2024, Jim Brennan and I assumed the leadership of SUNation. With the support of an amazing team, we created and implemented a series of initiatives that have strengthened our operations, reduced costs, eliminated significant debt, and enhanced efficiencies,” said Scott Maskin, CEO. “The passage of the One Big Beautiful Bill Act in July represented a major policy reversal for our industry; however, our success in improving our operations has prepared us to adjust to and, we believe, prosper in, this new environment. While uncertainty remains, we believe that the long-term outlook for solar is strong given its compelling value proposition, environmental benefits, and support of energy independence. SUNation is well positioned to capitalize on the opportunities that lie ahead and we are committed to delivering a best-in-class customer experience. Demand for residential solar in our primary markets of New York and Hawaii has increased considerably since the passage of the OBBBA. Consumers in these regions – which happen to be two of the most expensive electricity markets in the country – are being driven by a heightened sense of urgency to install new systems before the December 31, 2025 deadline to be eligible for the Section 25D tax credit. This has resulted in a significant increase in new residential business that we expect will be completed by the end of the year. Our Commercial business is also picking up with project backlog extending in 2026. We are diversifying our business model to create new revenue streams, continuing to pursue select acquisitions and partnership agreements, and pivoting towards leasing and third party owned systems in New York and Hawaii, where solar demand is expected to persist due to utility structure and high electricity costs.”