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Sep 30, 2020
Sunrun Q3 2020 Earnings Report
Sunrun's Q3 2020 financial results were reported, highlighting customer growth, megawatts deployed, and the acquisition of Vivint Solar.
Key Takeaways
Sunrun reported a strong third quarter, marked by a 40% sequential increase in megawatts deployed and a 2% year-over-year increase. The company completed the acquisition of Vivint Solar, expanding its customer base to over 500,000. Sunrun also launched Brightbox in all its markets and saw a 45% increase in battery installations compared to the previous year.
Sunrun increased volumes 40% sequentially and 2% year-over year.
The company completed the acquisition of Vivint Solar, creating a combined customer base of over 500,000.
Sunrun grew battery installations more than 45% versus last year.
The company executed an additional contract with Southern California Edison to provide five megawatts of new energy capacity by 2023.
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 expects to grow Megawatts Deployed by over 10% sequentially in the fourth quarter, pro-forma for the acquisition of Vivint Solar, at improving net customer margin levels. We expect net customer margins to increase to above $8,000 per leased customer in the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income