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8 Apr
$clii EvGO

Let's talk about some assumptions. Please fire back if you see anything you disagree with. I want to test my thinking.

First, credit to EvGO for sharing more granularity than peers $blnk $chpt $snpr
Stock is at $14/sh
263mm basic shares out
$3.7bn market cap

$575mm cash

We'll set aside warrant dilution for the time being to keep things simple
The Co. expects $20mm revenue in 2021 and $(58)mm of EBITDA

The value is based entirely on cash flows from a business that really doesn't exist yet
Read 23 tweets
6 Apr
The excellent Financial & Statistical Report from $eix is now out for 2020

Nuggets:

Resi kWh +12% due to WFH offset losses in comm/indu
Total kWh +0.9%

The 12% gain in a single year is absolutely stunning in the context of a multi-decade trend line
Rising interest in rooftop solar from $run $nova $spwr is very understandable, but will reverse somewhat
Solar 19.7% of Edison's power mix vs 1.2% in 2010

Rate base $34.7B vs $15.5B in 2010 (+124%)

Yet, resi rates only +17% vs 2010 thanks to cratering natural gas prices

HH $2.04/mmbtu vs $4.52 in 2010
Read 4 tweets