Vivint Solar Tanks 15% On Wider-than-expected Loss

Shares of Vivint Solar Inc. fell 15% Monday after the residential solar-power company reported a loss of 66 cents a share in the third quarter, excluding nonrecurring items, compared with a loss of 20 cents a year ago and the loss of 20 cents a share forecast by analysts polled by FactSet. Vivint Solar reported sales of $8.3 million, compared with expectations of $7.5 million; it had sales of $2.3 million in the year-ago quarter. It was Vivint Solar's first reporting cycle; the No. 2 solar installer after SolarCity Corp. started to trade on the New York Stock Exchange Oct. 1. Shares had ended Monday up 3.5%.