BRAZIL - 2023/07/02: In this photo illustration, the Sunrun logo is displayed on a smartphone ... [+] screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images The stock price of Sunrun stock (NASDAQ NASDAQ : RUN), a home solar panel and battery storage company, has surged over 25% in a month. This can be attributed to a broader rise in solar stocks, especially the ones that may benefit from increased energy demand for AI data centers. ...

SAN FRANCISCO, May 16, 2024 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation's leading provider of clean energy as a subscription service, today released its 2023 Impact Report. The report details the company's progress toward its impact goals, social and environmental initiatives, as well as advancements in safety, employee experience, and governance. It also highlights Sunun's commitment to generating long-term, sustainable value for all of its stakeholders, including customers, employees, communities ...

Core Insights - Sunrun released its 2023 Impact Report, showcasing progress towards impact goals and commitment to sustainable value for stakeholders [1][2] Group 1: Environmental Impact - Since 2007, Sunrun solar energy systems have generated 32.4 billion kilowatt-hours of solar energy, avoiding an estimated 18 million metric tons of carbon dioxide emissions, equivalent to removing 4.3 million gasoline-powered vehicles from the roads [2] - Sunrun's solar energy systems produced 6.8 billion kilowatt-hours of solar energy in 2023 and reduced total operational emissions by 24% [6] Group 2: Workforce and Community Engagement - Achieved a 52% ethnically diverse total workforce and completed 307,000 training courses for employee development [6] - Contributed 10,000 hours of employee volunteer time to local communities and provided 12,900 hours of on-the-job training for multifamily work [6] Group 3: Recognition and Awards - Recognized by Fast Company as a Brand That Matters and received accolades for being one of the Best Places to Work, Best Company for Women, and Best for Vets Employer [6]

Financial Data and Key Metrics Changes - The company ended Q1 with approximately 957,000 customers and 803,000 subscribers, representing a 16% increase year-over-year in networked solar energy capacity to 6.9 gigawatts [11] - Annual Recurring Revenue (ARR) stood at over $1.4 billion, up 30% year-over-year [11] - Total value generated in Q1 was $262 million, with a net subscriber value of $11,891, reflecting increased efficiency and volume [22][24] - Net earning assets increased by approximately $200 million from the prior quarter to $5.2 billion [28] - Total cash decreased by $205 million to $783 million, with cash generation being negative $311 million in Q1 [29] Business Line Data and Key Metrics Changes - The company installed over 102,000 solar and storage systems in Q1, with storage attachment rates reaching 50% of installations nationally [22] - Installed storage capacity was 207 megawatt hours, almost triple the year-ago quarter [6][56] - Solar energy capacity installed was approximately 177 megawatts, exceeding guidance [56] Market Data and Key Metrics Changes - The company recognized a weighted average Investment Tax Credit (ITC) of approximately 35%, with 35% of installations qualifying for the energy communities adder [25] - The portion of systems qualifying for the low-income adder was lowered from 26% to 18% due to inefficiencies in the program [25] Company Strategy and Development Direction - The company is focused on a storage-first strategy to enhance customer value and capitalize on regulatory changes [6] - The company is committed to driving cash generation and improving operating efficiency through AI and innovation [20][38] - Full-year storage capacity installation guidance is reiterated, while solar installation capacity outlook is reduced by 15% to flat [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong growth in installation activities, driven by rising utility rates and declining solar and storage equipment costs [51] - The company expects robust sequential growth in Q2 and beyond, marking Q1 as the low point for the year [39][72] - Management highlighted the importance of maintaining a strong balance sheet and navigating macroeconomic conditions [31][71] Other Important Information - The company is actively working on capital market activities to support growth and optimize the balance sheet [31] - The transition to tax credit transfer structures has impacted cash generation timing, but improvements are expected [30] Q&A Session Summary Question: Reduction in solar volume outlook - Management clarified that the reduction is strategic, focusing on profitable growth and storage, while also acknowledging some market-related weakness [77][94] Question: Tax credit receivable details - Management explained that the timing of tax credit sales is the primary driver for delays, with expectations to resolve issues by the end of Q2 [84][99] Question: Impact of new entrants in the market - Management noted that while new entrants have created some distractions, they do not view them as a durable threat due to their unsustainable business models [131] Question: Battery retrofit opportunities - Management confirmed the launch of a storage retrofit program and expressed optimism about growth in this area [114] Question: Equipment cost declines and inventory management - Management indicated that the realization of lower-cost inventory is expected to be mostly completed by Q2 [118]

Sunrun (RUN) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.58. This compares to loss of $1.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 31.03%. A quarter ago, it was expected that this solar energy products distributor would post a loss of $0.13 per share when it actually produced a loss of $1.33, delivering a surprise of -923.08%.Over the last four quarters, the co ...

Financial Performance & Outlook - Sunrun's Net Earning Assets increased to $5.2 billion[65, 92] - The company is reiterating Cash Generation guidance of reaching an annualized recurring level of $200 million to $500 million in Q4 2024[44, 97] - Subscriber Value reached $50,776, a 15% year-over-year increase[44, 62, 65] - Net Subscriber Value was $11,891, a 1% year-over-year decrease[44, 62, 65] - Total Value Generated was $262 million, a 13% year-over-year decrease[66, 71] Storage & Installation - Storage Capacity Installed reached 207 Megawatt hours in Q1, a 192% year-over-year increase[20, 34, 44, 62, 90] - Storage attachment rates for new installations increased to approximately 50% in Q1[20, 34, 44, 81, 90] - Solar Energy Capacity Installed was 177 Megawatts in Q1, a 26% year-over-year decrease[44, 65] Financial Activities - The company extended the recourse working capital facility to $448 million[103] - The company placed 2030 Convertible Note to $483 million[103] - The company increased Non-recourse Senior Revolving Warehouse Facility Size to $2.35 billion[103]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-37511 Sunrun Inc. (Exact name of registrant as specified in its charter) Delaware 26-2841711 (State or other jurisdiction of incorporation or organization) (I.R. ...

Exhibit 99.1 Sunrun Reports First Quarter 2024 Financial Results Exceeded high-end of Q1 guidance range for both Storage and Solar installations Storage Capacity Installed of 207 Megawatt hours in Q1, representing 192% year-over-year growth, as storage attachment rates reach 50% Solar Energy Capacity Installed of 177 Megawatts in Q1, reaching 6.9 Gigawatts of Networked Solar Energy Capacity Net Earning Assets increases to $5.2 billion, including $783 million in Total Cash Reiterating Cash Generation guidanc ...

SAN FRANCISCO, May 08, 2024 (GLOBE NEWSWIRE) -- Sunrun (NASDAQ:RUN), the nation's leading provider of clean energy as a subscription service, has networked more than 16,200 customers' solar-plus-storage systems to support California's electrical grid during the hot summer months. Sunrun's CalReady power plant will reduce strain on the grid by supplying critical energy to communities that need it throughout California in order to reduce costs and help prevent power emergencies. For the second year in a row, ...

Sunrun Inc. (RUN) is scheduled to release its first-quarter 2024 results on May 8 after market close. The company incurred a loss of $1.33, which came in wider than the Zacks Consensus Estimate of a loss of 13 cents in the last reported quarter.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Factors at PlayAlthough solar demand has been on the rise in the United States, the first quarter of a year is typically characterized by a seasonal slowdown after a rush to i ...