Residential solar energy company Sunrun (NASDAQ:RUN) will be announcing earnings results this Wednesday afternoon. Here’s what to expect.
Sunrun beat analysts’ revenue expectations last quarter, reporting revenues of $870 million, up 52.8% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ ARR estimates. It added 20,979 customers to reach a total of 1.21 million.
Is Sunrun a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Sunrun’s revenue to grow 3.6% year on year, slowing from the 34.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Sunrun has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Sunrun’s peers in the renewable energy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 138%, beating analysts’ expectations by 14.6%, and Nextpower reported revenues up 22.5%, topping estimates by 4%. Bloom Energy traded down 11.2% following the results while Nextpower was also down 2.7%.
Read our full analysis of Bloom Energy’s results here and Nextpower’s results here.
Investors in the renewable energy segment have had steady hands going into earnings, with share prices flat over the last month. Sunrun is up 9.2% during the same time and is heading into earnings with an average analyst price target of $14.21 (compared to the current share price of $8.31).
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