Sunrun Inc. (RUN) is a leader in solar, battery storage, and energy services. The company initiated a home solar facility for producing clean energy accessible to everyone with minimum cost. It also manages and shares stored solar energy to provide benefits to consumers by decreasing polluting energy sources’ reliance.
The price of the RUN stock during the regular trading on February 8, 2022, was $23.9 with a 0.42% surge. At last check in the premarket on February 9, 2022, the stock gained further by 6.50%.
RUN: Events and Happenings
On February 8, 2022, RUN announced its recent filing with SEC regarding the acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions. On January 27, 2022, RUN updated about the receipt of 100 scores on the Corporate Equality Index of Human Rights Campaign Foundation 2022. On January 25, 2022, RUN reported about the retirement of its $250 million recourse lending service. The company arranged a bigger $425 million service at improved terms and elongated tenure.
RUN updated about its earnings release date on January 19, 2022, for fourth-quarter 2021 to be February 17, 2022. On December 03, 2021, RUN and BRIDGE Housing inaugurated a solar installation serving 94 homes in California. The solar project has a capacity of 246 kilowatts and provides approximately $47 bill savings per month.
RUN: Key Financials
On November 4, 2021, RUN released its financial results for the third quarter ended September 30, 2021. Some of the key highlights are below.
Revenue
Total revenue in Q3 2021 was $438.7 million compared to $209.7 million in the same quarter of 2020. The company observed an increase of $229 million over the period of the year. The company beat the estimated revenue target by $25.03 million.
EPS
Basic and diluted net loss per share in Q3 2021 was $241.3 million or $0.12 (basic) and $0.11 (diluted) compared to $85.4 million or $0.30 (basic) and $0.28 (diluted) in the same period of 2020. The company beat the estimated EPS by $0.09 per share.
Conclusion
RUN stock is downplayed in the last six months by 53% due to financial worries as a result of the pandemic. The company’s current premarket stock surge is the likely outcome of its recent filing with the Securities and Exchange Commission. As the earnings release date is coming, the company is estimating revenue in the range of $408.9 million and EPS is estimated to be -$0.15.
