Sunrun Q1 net loss $87.8M; storage installations surge 192% YoY; solar guidance cut

Sunrun Inc.

2024-Q1 EPS reported -$0.40 revenue$458,188,000

Net loss $87.8M ($0.40/share); revenue $458.2M, down 22% YoY as customer agreement revenue rose 31%.
Storage capacity installed 207.2 MWh (+192% YoY); storage attachment rate reached 50%.
Net subscriber value $11,891; creation cost $38,885; total value generated $262M.
Cash generation negative $311M in Q1, but adjusted positive $6M; reiterates $200M–$500M annualized run-rate by Q4 2024.
Full-year solar capacity guidance cut to -15% to flat (from -5% to +5%); storage guidance 800–1,000 MWh (+40–75% YoY).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sunrun Inc. updated its the quarter ended March 31, 2024 guidance (reaffirmed).

Period: the quarter ended March 31, 2024
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, today announced financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001469367-24-000091

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