As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the renewable energy industry, including Plug Power (NASDAQ: PLUG) and its peers.

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 17 renewable energy stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 5.8% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 6.4% since the latest earnings results.

Plug Power (NASDAQ: PLUG)

Powering forklifts for Walmart’s distribution centers, Plug Power (NASDAQ: PLUG) provides hydrogen fuel cells used to power electric motors.

Plug Power reported revenues of $177.1 million, up 1.9% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with a significant miss of analysts’ adjusted operating income estimates.

Unsurprisingly, the stock is down 9% since reporting and currently trades at $2.33.

Read our full report on Plug Power here, it’s free.

Best Q3: Bloom Energy (NYSE: BE)

Working in stealth mode for eight years, Bloom Energy (NYSE: BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.

Bloom Energy reported revenues of $519 million, up 57.1% year on year, outperforming analysts’ expectations by 22.8%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

The market seems happy with the results as the stock is up 8% since reporting. It currently trades at $122.33.

Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Generac (NYSE: GNRC)

With its name deriving from a combination of “generating” and “AC”, Generac (NYSE: GNRC) offers generators and other power products for residential, industrial, and commercial use.

Generac reported revenues of $1.11 billion, down 5% year on year, falling short of analysts’ expectations by 6.6%. It was a disappointing quarter as it posted a miss of analysts’ Residential revenue estimates and a significant miss of analysts’ revenue estimates.

As expected, the stock is down 21% since the results and currently trades at $150.21.

Read our full analysis of Generac’s results here.

Sunrun (NASDAQ: RUN)

Helping homeowners use solar energy to power their homes, Sunrun (NASDAQ: RUN) provides residential solar electricity, specializing in panel installation and leasing services.

Sunrun reported revenues of $724.6 million, up 34.9% year on year. This number topped analysts’ expectations by 22.4%. It was an exceptional quarter as it also logged a solid beat of analysts’ customer base estimates and an impressive beat of analysts’ EBITDA estimates.

The company added 32,833 customers to reach a total of 1.14 million. The stock is down 10.2% since reporting and currently trades at $18.34.

Read our full, actionable report on Sunrun here, it’s free.

Enphase (NASDAQ: ENPH)

The first company to successfully commercialize the solar micro-inverter, Enphase (NASDAQ: ENPH) manufactures software-driven home energy products.

Enphase reported revenues of $410.4 million, up 7.8% year on year. This result surpassed analysts’ expectations by 12%. Overall, it was a strong quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is down 3.6% since reporting and currently trades at $35.50.

Read our full, actionable report on Enphase here, it’s free.

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