Sunrun Inc RUN shares are trading higher by 11.8% to $21.11 Thursday morning after the company reported mixed second-quarter results. Sunrun reported an EPS of 25 cents, surpassing the analyst consensus estimate of a loss of 34 cents. In terms of quarterly sales, Sunrun generated $590.19 million, missing the analyst consensus estimate of $621.86 million by 5.1%.
The company's sales performance still showed a marginally positive trajectory, with a 1% increase over the $584.58 million recorded during the same period the previous year.
Key operating metrics indicate strong growth, with 39,755 customer additions in second-quarter 2023 and a 20% increase in customers compared to the same period last year.
Sunrun's financial outlook remains positive, with expectations of 10% to 15% growth in Solar Energy Capacity Installed for the full year 2023.
Total revenue for second-quarter 2023 was $590.2 million, with customer agreements and incentives revenue increasing by 16% compared to second-quarter 2022.
According to data from Benzinga Pro, Sunrun has a 52-week high of $39.13 and a 52-week low of $14.55.
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