Sunrun Inc - RUN STOCK NEWS

Sunrun (RUN) reported Q3 2024 financial results with notable achievements in storage capacity and customer base. The company installed 336 Megawatt hours of storage capacity, exceeding guidance and showing 92% year-over-year growth, with storage attachment rates reaching 60%. Solar Energy Capacity installed was 230 Megawatts, achieving the high-end of guidance. The company generated positive cash of $2.5 million in Q3, marking the second consecutive quarter of positive cash generation. Net Earning Assets increased to $6.2 billion, including over $1 billion in Total Cash. Sunrun became the first clean energy company to surpass 1 million residential solar customers.

Sunrun (Nasdaq: RUN) has appointed John Trinta, former CEO of Deloitte Financial Advisory Services, to its Board of Directors and Audit Committee. Trinta brings nearly 40 years of expertise in tax and accounting, with significant experience at Deloitte where he held various executive positions from 1998 to 2020, including CEO of Financial Advisory Services and Deputy CEO of Advisory Services. During his tenure, he led important initiatives including Deloitte's merger of Financial Advisory and Risk practices. Trinta holds a BS in Business Administration from California State University, Chico, and an MS in Taxation from Golden Gate University.

Sunrun and Orange and Rockland Utilities have activated New York's largest residential power plant using over 300 solar-plus-storage systems. The project, approved by the NY State Public Service Commission, helped stabilize the electric grid during peak demand events this summer. Participating customers received free or heavily discounted home batteries in exchange for joining the 10-year program, while Sunrun receives upfront payments based on installed battery capacity. The systems provide backup power to homes while retaining 20% stored power during grid supply events. The program supports New York's clean energy transition and storage goals.

Sunrun (Nasdaq: RUN) has announced the date for its third quarter 2024 earnings report. The company will release its earnings after the market closes on Thursday, November 7, 2024. A conference call to discuss the results is scheduled for 1:30 p.m. Pacific Time on the same day.

Investors and interested parties can access the conference call through the Sunrun Investor Relations website or by dialing (877) 407-5989 (toll-free) or (201) 689-8434 (toll). An audio replay of the call will be available on the company's investor relations website for approximately one month, and a transcript will be posted the following day.

Sunrun, the leading provider of clean energy subscription services, has been recognized as a Sustainability Innovator in Good Housekeeping's 2025 Home Renovation Awards. The award highlights Sunrun's solar-plus-storage subscription service for its ability to protect families against rising energy costs and power outages.

Sunrun's CEO, Mary Powell, emphasized that their service offers customers independence and security from power outages and utility rate increases. Good Housekeeping praised Sunrun's 'Attainable Rooftop Solar' model, which allows homeowners to enjoy solar benefits without upfront costs. The company's subscription includes 24/7 system monitoring, 25-year free maintenance, and an industry-leading Performance Guarantee.

Sunrun's systems not only benefit individual households but also contribute to community grid stability through virtual power plant programs in certain markets. Good Housekeeping's recognition followed a rigorous evaluation process, involving 10,000 hours of hands-on testing and expert judgement.

Sunrun CEO Mary Powell has been named to Forbes' inaugural list of Sustainability Leaders, recognizing 50 global leaders driving a sustainable future through innovation and impact. This honor follows Sunrun becoming the first solar-plus-storage company in the U.S. to surpass 1 million customers.

Powell's leadership has transformed Sunrun into a multi-product clean energy lifestyle company, adding over 400,000 customers in three years and increasing battery storage installations by 400%. Under her guidance, Sunrun installs approximately 1 gigawatt of distributed home solar annually.

The recognition highlights Powell's vision for reducing fossil fuel dependence and strengthening the grid with customer-focused, distributed clean energy solutions. Forbes' list launches in conjunction with its third annual Sustainability Leaders Summit during New York's Climate Week.

Sunrun (Nasdaq: RUN), a leading clean energy subscription service provider, has priced its twelfth securitization of leases and power purchase agreements. The transaction involves $365.4 million in notes, structured with two classes of A+ rated notes and one class of BB rated notes. The Class A-1 ($75.0 million) and Class A-2 ($290.4 million) notes were oversubscribed, carrying coupons of 5.49% and 5.88% respectively. The notes are backed by a diverse portfolio of 21,281 systems across 19 states and Puerto Rico. Sunrun's CFO, Danny Abajian, highlighted the company's strong execution in capital markets and industry-leading cost of capital. The transaction is expected to close by September 26, 2024.

Vistra (NYSE: VST) has announced a new partnership with Sunrun (Nasdaq: RUN) to launch the TXU Energy & Sunrun Battery Rewards program in Texas. This initiative aims to support grid reliability by aggregating power from residential solar-connected batteries, creating a virtual power plant. TXU Energy customers with Sunrun home solar panels and batteries can opt in to receive financial incentives for participating, while retaining control of their systems during outages or severe weather.

The program builds on TXU Energy's existing solar buyback plans, which paid over $10 million in credits to customers last year. Sunrun, with its 1 million customers and 116,000+ installed storage systems, will manage the network of batteries and coordinate power discharge to the grid. This partnership expands Vistra's distributed energy initiatives and continues its tradition of pioneering energy-efficiency solutions in Texas.

Sunrun (Nasdaq: RUN), the leading U.S. provider of clean energy subscriptions, has surpassed 1 million residential solar customers, becoming the first storage-plus-solar company to reach this milestone. The company now accounts for 20% of home solar systems installed in the country, serving approximately 3 million people. Sunrun has evolved from a solar-only to a multi-product clean energy business, offering battery storage, EV charging, and bidirectional power flow systems.

Sunrun's systems have generated over 37 billion kilowatt hours of solar energy, saving customers about $1.3 billion in energy costs and avoiding an estimated 18 million metric tons of CO2 emissions. The company is also the largest single-owner operator of home solar and storage virtual power plants, enabling customers to participate in the shared clean energy economy.