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Sunrun Stock Drops After Mixed Q3 Earnings Report
Benzinga· 2025-11-06 23:09
Core Viewpoint - Sunrun Inc. reported mixed third-quarter earnings, with a significant miss on earnings per share but a strong revenue performance, leading to a decline in stock price [1][2]. Financial Performance - Quarterly earnings were reported at six cents per share, missing the consensus estimate of 15 cents by 59.73% [2]. - Quarterly revenue reached $724.55 million, exceeding the Street estimate of $602.02 million and increasing from $537.17 million in the same period last year [2]. Strategic Focus and Growth - The CEO of Sunrun, Mary Powell, emphasized the company's strategic focus on enabling energy independence for Americans, which is yielding strong results [3]. - Customer additions with storage grew by 20% compared to the prior-year period, indicating robust demand [4]. - The storage attachment rate increased to 70% in the third quarter, up from 60% in the prior-year period [4]. Operational Metrics - Sunrun has installed over 217,000 storage and solar systems, representing approximately 3.7 Gigawatt hours of networked storage capacity [4].