Welcome to our dedicated page for Sunrun news (Ticker: RUN), a resource for investors and traders seeking the latest updates and insights on Sunrun stock.
Sunrun Inc. (Nasdaq: RUN) is a pioneering force in the residential solar energy market in the United States. Founded in 2007, the company revolutionized the industry by making home solar accessible and affordable through its innovative solar service model. By allowing homeowners to pay for the electricity generated rather than the solar panels themselves, Sunrun removes the substantial upfront costs that have traditionally been a barrier to solar adoption.
Sunrun's core business involves the design, development, installation, sale, ownership, and maintenance of residential solar energy systems. Homeowners can enter into long-term agreements, typically ranging from 20 to 25 years, ensuring low, locked-in rates for the electricity produced. This model not only saves customers money over time but also provides them with energy security and predictability.
In recent years, Sunrun has been at the forefront of integrating solar energy with battery storage solutions. The company now offers solar-plus-storage systems, enabling homeowners to store excess energy for use during power outages or peak demand times. This not only enhances energy resilience but also contributes to grid stability, as seen in Sunrun's prominent virtual power plant initiatives in places like Puerto Rico and California.
Sunrun's financial performance underscores its market dominance, with significant milestones achieved in the fourth quarter of 2023 and the first quarter of 2024. The company reported a net subscriber value of $13,445 and $11,891 respectively in these quarters, demonstrating strong customer value creation. Despite facing challenges, such as a net loss attributable to common stockholders of $350.1 million in Q4 2023 and $87.8 million in Q1 2024, Sunrun remains committed to driving positive cash generation and margin-focused strategies.
Partnerships play a crucial role in Sunrun's growth strategy. The company collaborates with various solar and strategic partners to expand its customer base and enhance service offerings. Recent achievements include raising over $3 billion in capital in early 2024 and participating in significant projects like PowerOn Puerto Rico and the CalReady program in California.
Sunrun's commitment to environmental sustainability is evident in its efforts to reduce carbon emissions through its solar deployments. The company's systems have offset millions of metric tons of CO2, underlining its role in combating climate change while providing clean, affordable, and reliable energy to families across America.
Sunrun (RUN) reported strong Q2 2021 results, adding 26,110 customers, reaching a total of 599,743, with a 19% YoY growth post-Vivint Solar acquisition. Annual Recurring Revenue stands at $747 million, with an average contract life of 17 years. The company raised its full-year growth guidance to 30%, up from 25-30%. Q2 revenue surged 121% year-over-year to $401.2 million. However, net loss was $41.2 million, or $0.20 per share. Sunrun is well-positioned for future growth, focusing on solar capacity and innovative services like virtual power plants.
Sunrun (Nasdaq: RUN) announced its second quarter 2021 earnings report will be released on August 5, 2021, after market closure. A conference call to discuss the results is scheduled for 2:00 p.m. Pacific Time, available via the Sunrun Investor Relations website or by phone. The company, a leader in home solar energy and battery storage solutions, aims to enhance accessibility to clean energy through its innovative service plans. More details can be found on their official website.
Sunrun (Nasdaq: RUN) has partnered with Ford to become the preferred installer for the all-electric F-150 Lightning’s Ford Intelligent Backup Power. This partnership will enable seamless installation of the 80-amp Ford Charge Station Pro, allowing the F-150 to serve as a backup energy source during outages. Customers will also have the option to install solar and battery systems in their homes, promoting clean energy usage. Ford's F-150 reservations are now open with deliveries commencing in mid-2022.
Sunrun (RUN) reported 23,556 customer additions in Q1 2021, reaching a total of over 573,000 customers, representing an 18% year-over-year growth when adjusted for Vivint Solar. The company increased its full-year growth guidance to 25%-30% due to strong demand and expanding operations. Q1 net subscriber value is $8,197, generating a total value of $165 million. Sunrun's annual recurring revenue stands at $683 million with an average contract life of 17 years. Despite a net loss of $23.8 million for the quarter, they expect significant long-term growth in the solar market.
Sunrun (Nasdaq: RUN) has released its fourth annual Impact Report, highlighting significant achievements in environmental, social, and governance (ESG) initiatives. Since its founding in 2007, Sunrun has prevented over 8.1 million metric tons of carbon pollution and generated nearly four gigawatts of solar energy. The company aims for net zero emissions by 2040 and plans to reduce transportation emissions significantly in five years. Financially, Sunrun serves 550,000 customers, reflecting an 18% growth, and has $9 billion in gross solar system assets.
Sunrun (Nasdaq: RUN) has nominated Sonita Lontoh for election as a Class III director at the upcoming annual stockholders' meeting on June 3, 2021. If elected, Lontoh will serve a three-year term. With over 20 years of experience, she brings expertise in innovation, marketing, and customer experience, having previously worked with HP Inc. and Siemens AG. The nomination aims to enhance the board’s ability to drive growth and innovation in solar energy, aligning with Sunrun’s mission of providing affordable, clean energy solutions.
Sunrun (Nasdaq: RUN) is set to release its Q1 2021 earnings report on May 5, 2021, after market close. A conference call will follow at 2:00 PM PT to discuss the results, accessible via the Sunrun Investor Relations website or by dialing 877-407-5989. Founded in 2007, Sunrun has become the leading home solar and energy services provider in the U.S., focusing on affordable solar energy solutions without upfront costs. Their battery storage solution, Brightbox, supports energy reliability for households while reducing dependency on pollution-heavy energy sources.
Sunrun (Nasdaq: RUN) has announced a successful securitization of leases and power purchase agreements, reaching a record low spread to benchmark rates. The transaction involves A-rated notes priced at a yield of 2.46%, improving the spread by 40 basis points from the previous record. With an initial balance of $201 million and an 80% advance rate, the notes back a diverse portfolio of over 16,686 solar rooftop systems across 17 states. The closing is expected by March 17, 2021, reflecting Sunrun's strong capital position and enhanced ability to raise funds.
Sunrun (RUN) reported strong Q4 2020 results, adding approximately 23,500 customers, totaling over 550,000 customers, marking an 18% year-over-year growth. The net subscriber value reached $9,051, generating a total value of $170 million. Annual recurring revenue hit $668 million with an average contract life of 17 years. Sunrun expects a 20-25% growth rate for 2021 and increased expected cost synergies from the Vivint Solar acquisition from $90 million to $120 million.
Sunrun (Nasdaq:RUN) has announced its expansion in Texas, specifically in San Antonio, to provide the Brightbox rechargeable solar battery system to residents. This move comes in response to increasing extreme weather events, allowing more Texans to utilize solar energy and maintain power during outages. Since launching in Texas in 2017, Sunrun has prioritized accessibility to clean energy. The Brightbox system offers backup electricity from stored solar energy, enabling families to manage energy costs while enhancing grid resilience.
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