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Sunrun (RUN) to Report Q2 Earnings: What's in the Cards?
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Sunrun Inc. (RUN - Free Report) is slated to report second-quarter 2023 results on Aug 2 after the closing bell.
In the last reported quarter, the company witnessed a negative earnings surprise of 2,700.00%. In the trailing four quarters, Sunrun delivered an earnings surprise of 1,984.17%, on average.
Factors to Note
In the second quarter, the increased adoption of solar and storage solutions and the surge in new installations and subscriptions are likely to have boosted Sunrun’s revenues.
Moreover, all operational regions are expected to continue to remain strong, with California likely to witness strong sales in the second quarter. Strong sales in California are buoyed by the new rate regime, called Net Billing Tariff in the region, which boosted tremendous growth in new orders for the company.
Also, Sunrun launched its Shift home solar subscription offering in California in April 2023. This may have boosted its customer base due to the strong customer savings it offers.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $621.9 million. This suggests growth of 6.4% from the year-ago reported figure.
From the cost perspective, easing supply-chain conditions and substantial cost reductions across its key hardware components may have favorably contributed to its second-quarter bottom line. The Shift offering is likely to have aided the overall margins of the company, thus boosting its bottom line.
However, higher operation and maintenance expenses and unfavorable interest costs may have weighed on its earnings performance in the second quarter. The Zacks Consensus Estimate for RUN’s second-quarter earnings is pegged at a loss of 34 cents per share. This suggests a significant deterioration from the year-ago quarter’s loss of 6 cents.
Our proven model predicts an earnings beat for Sunrun this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: The company has an Earnings ESP of +61.42%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three companies you may also want to consider from the same sector as these also have the right combination of elements to post an earnings beat this season:
SolarEdge Technologies (SEDG - Free Report) currently has an Earnings ESP of +4.58% and a Zacks Rank #3. The Zacks Consensus Estimate for SolarEdge’s second-quarter sales implies an improvement of 35.9% from the prior-year reported figure.
SEDG delivered an earnings surprise of 46.46% in the last reported quarter. Its second-quarter earnings estimates, pegged at $2.55 per share, imply an improvement of 168.4% from the year-ago quarter’s tally.
Ameresco (AMRC - Free Report) has an Earnings ESP of +2.78% and a Zacks Rank #3. The Zacks Consensus Estimate for Ameresco’s second-quarter sales is pegged at $293.8 million.
AMRC delivered a four-quarter average earnings surprise of 4.35%. Its second-quarter earnings estimates are pegged at 18 cents per share.
Bloom Energy (BE - Free Report) has an Earnings ESP of +0.36% and a Zacks Rank #3. The Zacks Consensus Estimate for Bloom Energy’s second-quarter sales calls for a growth rate of 29.7% from the prior-year reported figure.
BE delivered a negative earnings surprise of 10.00% in the last reported quarter.
Image: Bigstock
Sunrun (RUN) to Report Q2 Earnings: What's in the Cards?
Sunrun Inc. (RUN - Free Report) is slated to report second-quarter 2023 results on Aug 2 after the closing bell.
In the last reported quarter, the company witnessed a negative earnings surprise of 2,700.00%. In the trailing four quarters, Sunrun delivered an earnings surprise of 1,984.17%, on average.
Factors to Note
In the second quarter, the increased adoption of solar and storage solutions and the surge in new installations and subscriptions are likely to have boosted Sunrun’s revenues.
Moreover, all operational regions are expected to continue to remain strong, with California likely to witness strong sales in the second quarter. Strong sales in California are buoyed by the new rate regime, called Net Billing Tariff in the region, which boosted tremendous growth in new orders for the company.
Also, Sunrun launched its Shift home solar subscription offering in California in April 2023. This may have boosted its customer base due to the strong customer savings it offers.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $621.9 million. This suggests growth of 6.4% from the year-ago reported figure.
From the cost perspective, easing supply-chain conditions and substantial cost reductions across its key hardware components may have favorably contributed to its second-quarter bottom line. The Shift offering is likely to have aided the overall margins of the company, thus boosting its bottom line.
However, higher operation and maintenance expenses and unfavorable interest costs may have weighed on its earnings performance in the second quarter. The Zacks Consensus Estimate for RUN’s second-quarter earnings is pegged at a loss of 34 cents per share. This suggests a significant deterioration from the year-ago quarter’s loss of 6 cents.
Sunrun Inc. Price and EPS Surprise
Sunrun Inc. price-eps-surprise | Sunrun Inc. Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Sunrun this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: The company has an Earnings ESP of +61.42%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunrun currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are three companies you may also want to consider from the same sector as these also have the right combination of elements to post an earnings beat this season:
SolarEdge Technologies (SEDG - Free Report) currently has an Earnings ESP of +4.58% and a Zacks Rank #3. The Zacks Consensus Estimate for SolarEdge’s second-quarter sales implies an improvement of 35.9% from the prior-year reported figure.
SEDG delivered an earnings surprise of 46.46% in the last reported quarter. Its second-quarter earnings estimates, pegged at $2.55 per share, imply an improvement of 168.4% from the year-ago quarter’s tally.
Ameresco (AMRC - Free Report) has an Earnings ESP of +2.78% and a Zacks Rank #3. The Zacks Consensus Estimate for Ameresco’s second-quarter sales is pegged at $293.8 million.
AMRC delivered a four-quarter average earnings surprise of 4.35%. Its second-quarter earnings estimates are pegged at 18 cents per share.
Bloom Energy (BE - Free Report) has an Earnings ESP of +0.36% and a Zacks Rank #3. The Zacks Consensus Estimate for Bloom Energy’s second-quarter sales calls for a growth rate of 29.7% from the prior-year reported figure.
BE delivered a negative earnings surprise of 10.00% in the last reported quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.