Residential solar energy company Sunrun (NASDAQ: RUN) will be reporting results tomorrow after market hours. Here’s what investors should know.
Sunrun missed analysts’ revenue expectations by 3% last quarter, reporting revenues of $518.5 million, flat year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates. It added 32,932 customers to reach a total of 1.05 million.
Is Sunrun a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Sunrun’s revenue to grow 5.8% year on year to $484.8 million, a reversal from the 22.3% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.27 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sunrun has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Sunrun’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Generac delivered year-on-year revenue growth of 5.9%, beating analysts’ expectations by 2.3%, and Bloom Energy reported revenues up 38.6%, topping estimates by 11.9%. Generac’s stock price was unchanged after the results, while Bloom Energy was down 8.2%.
Read our full analysis of Generac’s results here and Bloom Energy’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 12.3% on average over the last month. Sunrun is up 6.8% during the same time and is heading into earnings with an average analyst price target of $13.19 (compared to the current share price of $7.02).
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