UPDATE 1-EnerNOC Q3 results beat Street, cuts FY profit view
* Q3 adj EPS $1.81 vs est $1.55
* Q3 rev up 58 pct at $162.8 mln vs est $160.8 mln
* Sees Q4 adj EPS $0.62-$0.73; rev $20-$24 mln
* Sees FY adj EPS $0.91-$1.01; rev $277-$281 mln
Nov 8 (Reuters) - EnerNOC Inc (ENOC.O), which provides energy monitoring and efficiency services, posted quarterly results above market estimates on higher customer additions, but lowered its full-year profit view.
Demand response businesses of EnerNOC and peer Comverge Inc COMV.O -- which earlier reported a loss [ID:nSGE6A70M4] -- help power utilities and grid operators curb and control peak electricity demand.
EnerNOC sees full-year adjusted profit of 91 cents to $1.01 a share, on revenue of $277-$281 million. [ID:nWNAB0987]
Profit at EnerNOC for the July-September quarter jumped to $43.9 million, or $1.67 a share, from $26.6 million, or $1.12 a share, a year ago.
Excluding items, the company earned $1.81 a share, compared with market estimates of $1.55.
Total revenue at the Boston-based company climbed 58 percent to $162.8 million.
Analysts on an average were expecting the company to post revenue of $160.8 million, according to Thomson Reuters I/B/E/S.
The company's shares, which have risen 3 percent during the third quarter, closed at $30.56 on Monday on Nasdaq. (Reporting by Krishna N. Das in Bangalore; Editing by Roshni Menon)
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video