Welcome to our dedicated page for Zeo Energy Corporation news (Ticker: ZEO), a resource for investors and traders seeking the latest updates and insights on Zeo Energy Corporation stock.
Zeo Energy Corporation (Nasdaq: ZEO) is a Florida-based, vertically integrated provider of residential solar energy systems and energy efficiency solutions. The company operates primarily in Florida, Texas, Arkansas, and Missouri, with recent expansions into Ohio and Illinois.
Core Business: Zeo Energy focuses on selling and installing residential solar energy systems. These systems help homeowners reduce their electricity costs and contribute to a more sustainable future. The company also provides energy-efficient equipment and related services to enhance overall energy consumption.
Recent Achievements: 2023 was a pivotal year for Zeo Energy, marked by a successful business combination and a public listing on the Nasdaq Capital Market. Despite industry challenges, Zeo generated $110.1 million in net revenue and achieved a gross profit of $20.2 million. The company also reported an adjusted EBITDA of $11.2 million.
Current Projects: Zeo is committed to expanding its market presence in the US. In 2023, it entered the Missouri market, and in the first quarter of 2024, it expanded into Ohio and Illinois. The company aims to further its reach by targeting high-growth markets with minimal competitive saturation.
Financial Condition: The company’s asset-light business model has been instrumental in driving profitability. For the first quarter of 2024, Zeo reported a total revenue growth of 4%, amounting to $19.5 million. The company anticipates improved profitability and sustained growth in the coming quarters.
Partnerships and Talent: Zeo attributes its success to its skilled workforce and strategic partnerships. According to CEO Tim Bridgewater, the company has the right talent to achieve its growth objectives.
Products: Zeo Energy’s product offerings include solar panels, energy storage solutions, and other energy-efficient equipment. These products are designed to meet the increasing demand for renewable energy and help homeowners reduce their carbon footprint.
Zeo Energy Corp (Nasdaq: ZEO) has completed the acquisition of substantially all assets of Lumio Holdings, a residential solar company that filed for Chapter 11 bankruptcy on September 3, 2024. The Sale Transaction, approved by the Court on November 1, 2024, is expected to enhance Zeo Energy's market presence and scale in the solar industry.
CEO Tim Bridgewater expressed confidence that this strategic move will help the company achieve above-industry growth rates in 2025 and beyond. Zeo Energy plans to complete existing Lumio solar installations and integrate Lumio's sales representatives into their platform.
Zeo Energy Corp. (Nasdaq: ZEO), a Florida-based leader in residential solar and energy efficiency solutions, is set to present at the 2024 Annual Gateway Conference in San Francisco. The presentation is scheduled for September 5th at 10:30 a.m. PT and will be webcast live with replay available.
Key points:
- Event: 2024 Gateway Conference at Four Seasons Hotel, San Francisco
- Date: September 4-5, 2024
- Zeo's presentation: September 5th, 10:30 a.m. PT
- Live webcast and replay available
- One-on-one meetings with executives possible
For more information or to schedule meetings, interested parties can email conference@gateway-grp.com.
Zeo Energy Corp. (Nasdaq: ZEO) reported its Q2 2024 financial results, revealing a decline in revenue for residential solar to $14.7 million, a 51% decrease from Q2 2023. Despite challenges, the company achieved positive adjusted EBITDA of $0.7 million for Q2 2024. Zeo's expansion into Ohio and Illinois markets showed promising initial results. The company appointed Cannon Holbrook as CFO and emphasized profitability amid industry pressures. For the first six months of 2024, total revenue decreased by 29% to $34.6 million, with a net loss of $3.2 million compared to a net income of $2.4 million in the same period of 2023. Zeo attributes the decline to higher interest rates impacting residential solar direct sales but remains optimistic about future growth and potential M&A opportunities as the market recovers.
Zeo Energy Corp. (Nasdaq: ZEO), a Florida-based provider of residential solar and energy efficiency solutions, has appointed Cannon Holbrook as Chief Financial Officer. Holbrook, who joined Zeo in March 2024 as Advisor to the CEO, brings over two decades of experience in finance and accounting. He has held leadership roles in high-growth industries, including at Vivint Smart Homes, Built Bar, HZO, and KLA-Tencor. Most recently, as CFO at Hawx Pest Control, Holbrook helped secure $90 million in financing and grow revenue from $33 million to $110 million. His expertise includes strategic planning, mergers and acquisitions, and capital raising. CEO Tim Bridgewater praised Holbrook's strategic insights and financial acumen, expressing confidence in his ability to support Zeo's long-term growth strategy.
Zeo Energy Corp. (Nasdaq: ZEO) reported its first quarter 2024 financial results. Total revenue grew by 4% year-over-year to $19.5 million, but gross profit decreased by 47% to $1.8 million. The company faced a net loss of $1.7 million compared to a net income of $1.6 million in the same period last year, primarily due to higher costs tied to their recent merger with ESGEN Acquisition Corp., which resulted in a $1.2 million adjusted EBITDA loss. Merger transaction expenses totaled $11.7 million, but were offset by $15 million in preferred equity from Energy Spectrum, ESGEN's sponsor. Zeo expanded its operations into Ohio and Illinois, and CEO Tim Bridgewater expressed optimism for future growth.
FAQ
What is the current stock price of Zeo Energy Corporation (ZEO)?
What is the market cap of Zeo Energy Corporation (ZEO)?
What does Zeo Energy Corporation do?
Where does Zeo Energy operate?
How did Zeo Energy perform financially in 2023?
What are Zeo Energy's recent achievements?
What is Zeo Energy's business model?
Who leads Zeo Energy Corporation?
What is Zeo Energy's growth strategy?
How does Zeo Energy contribute to sustainability?
What products does Zeo Energy offer?
Where can I find more information about Zeo Energy's financial performance?
