Sunrun Inc. (RUN - Free Report) is scheduled to report third-quarter 2018 results on Nov 7, after the market closes. Last quarter, the company reported a negative earnings surprise of 82.86%.
Let’s see how things are shaping up prior to this announcement.
Factors Under Consideration
Due to the increasing wildfires and extreme weather causing outages during the third quarter, the demand for solar energy witnessed considerable growth that is ought to benefit leading solar companies like Sunrun. Considering this, we may expect the upcoming results to reflect megawatt deployments growth, similar to that of 20% improvement witnessed during the second quarter of 2018.
Moreover, the company expects to double the installation of its Brightbox battery storage systems in the second half of 2018 as compared to the first half. This again should reflect a favorable impact on sales in the third quarter.
In line with such notable developments, the Zacks Consensus Estimate for Sunrun’s third-quarter revenues is pegged at $176 million, reflecting an annual rise of 24.5%.
Sunrun has been achieving 9% annual cost reductions for the last three years and we expect this trend to continue further and positively impact bottom-line results in the to-be-reported quarter.
Evidently, the Zacks Consensus Estimate for Sunrun’s third-quarter earnings, which is pegged at 34 cents, reflects an annual rise of 36%.
Sunrun Inc. Price and EPS Surprise