Sunrun's earnings call highlighted strong operational and financial performance, including record storage installations, increased market share, and positive cash generation. However, there are concerns about potential political impacts on tax credits and competitive pressures in the market.

Company Guidance

During the Q3 2024 earnings call for Sunrun, the company provided a robust set of guidance metrics, highlighting significant achievements and future expectations. Sunrun reached a milestone of 1 million customers and set records for storage installations, with 336 megawatt-hours installed in Q3, marking a 92% increase from the previous year. The company expects to maintain or slightly increase the current 60% storage attachment rate. Sunrun achieved positive cash generation for the second consecutive quarter and anticipates generating $50 million to $125 million in Q4 2024, with projections of $350 million to $600 million for 2025. The company reported a net subscriber value of $14,632 and an annual recurring revenue exceeding $1.5 billion, with a 13% year-over-year increase in network solar energy capacity. Looking ahead, Sunrun expects solar energy capacity installations to grow 8% year-over-year in Q4, with a long-term growth outlook of 10% to 15%. The company remains confident in its ability to generate cash and expand its market share by focusing on high-margin strategies and expanding its grid service programs, which now involve over 20,000 customers across 16 programs nationwide.

Record Storage Installations and Customer Growth

Sunrun installed 336 megawatt hours of storage in Q3, up 92% from 1 year ago, with storage attached to 60% of new customers, reaching 135,000 storage systems installed.

Financial Performance and Cash Generation

Sunrun reported positive cash generation for the second consecutive quarter and reiterated a strong cash generation outlook for Q4 and 2025.

Market Share Gains

Sunrun's share of residential solar installations in the U.S. increased from 13% in Q1 to 18% in Q3, with residential storage share reaching 49%.

Expansion in New Homes Division

Sunrun is now working with 9 of the top 10 new homebuilders in California and expects the New Homes division to grow at least 50% over the next year.

Grid Services Growth

Sunrun has activated 16 grid service programs with over 20,000 customers participating, contributing to grid stability and offering additional revenue streams.

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Sunrun (RUN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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RUN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 09, 2018	2018 (Q2)	- / 0.06	0.23	-73.91% (-0.17)	―	―
Nov 07, 2018	2018 (Q3)	- / -0.02	0.25	-108.00% (-0.27)	―	―
Feb 28, 2019	2018 (Q4)	- / -0.05	0.54	-109.26% (-0.59)	―	―
May 08, 2019	2019 (Q1)	- / -0.12	0.25	-148.00% (-0.37)	―	―
Aug 07, 2019	2019 (Q2)	- / -0.01	0.06	-116.67% (-0.07)	―	―
Nov 12, 2019	2019 (Q3)	- / 0.23	-0.02	1250.00% (+0.25)	―	―
Feb 27, 2020	2019 (Q4)	- / 0.10	-0.05	300.00% (+0.15)	―	―
May 06, 2020	2020 (Q1)	- / -0.23	-0.12	-91.67% (-0.11)	―	―
Aug 10, 2020	2020 (Q2)	- / -0.11	-0.01	-1000.00% (-0.10)	―	―
Nov 05, 2020	2020 (Q3)	- / 0.28	0.23	21.74% (+0.05)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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RUN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$11.60	$10.23	-11.81%
Aug 06, 2024	$16.49	$18.31	+11.04%
May 08, 2024	$11.51	$12.41	+7.82%
Feb 21, 2024	$15.58	$12.78	-17.97%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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