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Sep 30, 2022
Sunrun Q3 2022 Earnings Report
Sunrun's Q3 2022 financial results were reported, highlighting significant expansion in Net Subscriber Value and a substantial increase in Net Earning Assets.
Key Takeaways
Sunrun reported Q3 2022 financial results, with Net Subscriber Value expanding significantly to $13,259 and Net Earning Assets increasing by $465 million to $5.1 billion. The company added 35,760 new customers, bringing the total to 759,937, and installed 255.8 Megawatts of solar energy capacity.
Net Subscriber Value expanded significantly, exceeding guidance at $13,259.
Net Earning Assets increased by $465 million from the prior quarter, reaching $5.1 billion.
Customer Additions totaled 35,760 in Q3, bringing the total customer base to 759,937, a 21% year-over-year growth.
Solar Energy Capacity Installed reached 255.8 Megawatts in Q3, reflecting a 17% year-over-year growth.
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
Sunrun expects Solar Energy Capacity Installed growth to be approximately 25% for the full year 2022. Net Subscriber Value is expected to increase sequentially in Q4 from Q3. Total Value Generated is expected to be greater than $1 billion for the full year 2022.
Positive Outlook
- Solar Energy Capacity Installed growth to be approximately 25% for the full year 2022.
- Net Subscriber Value is expected to increase sequentially in Q4 from Q3.
- Total Value Generated is expected to be greater than $1 billion for the full year 2022.
- Continued margin improvements in the quarters ahead.
- Focus on a disciplined strategy for sustainable growth.
Challenges Ahead
- Pressures on sales and installation activities at the end of the quarter from the devastating hurricanes in Puerto Rico and Florida.
- Current supply constraints and long cycle times are resulting in lower attachment rates than previously forecasted.
- Higher interest rates and material costs.
- Macroeconomic trends
- Potential impacts of proposed, amended, and newly adopted legislation and regulation on the solar industry and our business
Revenue & Expenses
Visualization of income flow from segment revenue to net income