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Mar 31, 2022
Sunrun Q1 2022 Earnings Report
Sunrun's Q1 2022 financial results were announced, demonstrating growth in solar energy capacity installed and strong customer order trends.
Key Takeaways
Sunrun reported a 27% growth in Solar Energy Capacity Installed in Q1, exceeding guidance. Customer orders increased by 39% year-over-year, and the company added 29,463 new customers, bringing the total to 689,774. Full-year guidance for Solar Energy Capacity Installed growth was increased to over 25%.
Solar Energy Capacity Installed grew by 27% in Q1, surpassing expectations.
Customer orders increased by 39% compared to the prior year.
Customer Additions of 29,463 in Q1, bringing total Customers to 689,774, a 20% year-over-year growth.
Full-year guidance increased to over 25% growth in Solar Energy Capacity Installed.
Sunrun
Sunrun
Sunrun Revenue by Segment
Revenue by Segment
Customer Agreements and Incentives Revenue
CapyFin.comSolar Energy Systems and Product Sales Revenue
CapyFin.com Forward Guidance
Management now expects Solar Energy Capacity Installed growth to be 25% or greater for the full-year 2022, an increase from the prior guidance of 20% or greater. Total Value Generated is expected to grow meaningfully faster than Solar Energy Capacity Installed for the full-year 2022, with Net Subscriber Values of above $10,000 in Q3. For the second quarter, management expects Solar Energy Capacity Installed to be in a range between 235 and 245 megawatts.
Positive Outlook
- Solar Energy Capacity Installed growth to be 25% or greater for the full-year 2022, an increase from the prior guidance of 20% or greater.
- Total Value Generated is expected to grow meaningfully faster than Solar Energy Capacity Installed for the full-year 2022.
- Net Subscriber Values of above $10,000 in Q3.
- Solar Energy Capacity Installed to be in a range between 235 and 245 megawatts for the second quarter.
- Strong customer order trends, increasing 39% year-over-year
Revenue & Expenses
Visualization of income flow from segment revenue to net income