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Sunrun (RUN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Sunrun (RUN - Free Report) reported $590.19 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 1%. EPS of $0.25 for the same period compares to -$0.06 a year ago.
The reported revenue represents a surprise of -5.09% over the Zacks Consensus Estimate of $621.86 million. With the consensus EPS estimate being -$0.34, the EPS surprise was +173.53%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Sunrun performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Solar Energy Capacity Installed for Subscribers: 246.7 MW versus 281.86 MW estimated by three analysts on average.
Networked Solar Energy Capacity: 6204 MW compared to the 6226.64 MW average estimate based on two analysts.
Revenue- Customer agreements and incentives: $302.15 million versus $300.76 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +16.3% change.
Revenue- Solar energy systems and product sales: $288.04 million compared to the $299.87 million average estimate based on five analysts. The reported number represents a change of -11.3% year over year.
Revenue- Solar energy systems: $202.48 million versus $161.53 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.3% change.
Revenue- Incentives: $27.66 million versus the three-analyst average estimate of $27.48 million. The reported number represents a year-over-year change of -0.8%.
Revenue- Products: $85.56 million versus the three-analyst average estimate of $101.87 million. The reported number represents a year-over-year change of -25.8%.
Revenue- Customer agreements: $274.49 million versus the three-analyst average estimate of $290.39 million. The reported number represents a year-over-year change of +18.3%.
Shares of Sunrun have returned +7.1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Sunrun (RUN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Sunrun (RUN - Free Report) reported $590.19 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 1%. EPS of $0.25 for the same period compares to -$0.06 a year ago.
The reported revenue represents a surprise of -5.09% over the Zacks Consensus Estimate of $621.86 million. With the consensus EPS estimate being -$0.34, the EPS surprise was +173.53%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Sunrun performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Solar Energy Capacity Installed for Subscribers: 246.7 MW versus 281.86 MW estimated by three analysts on average.
- Networked Solar Energy Capacity: 6204 MW compared to the 6226.64 MW average estimate based on two analysts.
- Revenue- Customer agreements and incentives: $302.15 million versus $300.76 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +16.3% change.
- Revenue- Solar energy systems and product sales: $288.04 million compared to the $299.87 million average estimate based on five analysts. The reported number represents a change of -11.3% year over year.
- Revenue- Solar energy systems: $202.48 million versus $161.53 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.3% change.
- Revenue- Incentives: $27.66 million versus the three-analyst average estimate of $27.48 million. The reported number represents a year-over-year change of -0.8%.
- Revenue- Products: $85.56 million versus the three-analyst average estimate of $101.87 million. The reported number represents a year-over-year change of -25.8%.
- Revenue- Customer agreements: $274.49 million versus the three-analyst average estimate of $290.39 million. The reported number represents a year-over-year change of +18.3%.
View all Key Company Metrics for Sunrun here>>>Shares of Sunrun have returned +7.1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.