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Jun 30, 2023
Sunrun Q2 2023 Earnings Report
Sunrun's financial performance for Q2 2023 reflected growth in key operating metrics and strategic advancements.
Key Takeaways
Sunrun reported a solid Q2 2023, exceeding guidance for Solar Energy Capacity Installed and increasing Net Subscriber Value. The company is focused on sustainable growth and cash generation, while expanding its market leadership in residential solar and storage solutions.
Storage capacity installed reached 103 Megawatt hours, a 35% year-over-year increase.
Solar Energy Capacity Installed was 296.6 Megawatts, exceeding guidance.
Net Subscriber Value increased to $12,321, up $321 from Q1.
Net Earning Assets grew to $4.4 billion, including $921 million in total cash.
Revenue by Segment
Forward Guidance
Sunrun anticipates Solar Energy Capacity Installed growth to be in the range of 10% to 15% for the full year 2023. For Q3 2023, the company expects Solar Energy Capacity Installed growth to be in the range of 255 to 275 Megawatts. Net Subscriber Value is expected to be materially higher in the second half of 2023 compared to the first half of 2023.
Positive Outlook
- Management continues to expect Solar Energy Capacity Installed growth to be in a range of 10% to 15% for the full year 2023.
- Management expects Solar Energy Capacity Installed growth to be in a range of 255 to 275 Megawatts in the third quarter of 2023.
- Net Subscriber Value is expected to be materially higher in the second half of 2023 compared to the first half of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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