15 Aug '16, 3pm

Residential Solar Player Sunrun Beats Street and Guidance, Stock Soars

Residential Solar Player Sunrun Beats Street and Guidance, Stock Soars

Sunrun installed 65 megawatts of residential solar systems in the second quarter, a 69 percent jump that beat the PV installer and financier's forecast of 60 megawatts. Sunrun also beat the Street's expectations. The company's stock price jumped 15 percent on the news. Analysts had anticipated a loss, but instead Sunrun posted a Q2 net income of $32.6 million. The company performed similarly well on other metrics. Revenue grew to $122.5 million from $72.7 million a year before, besting the Street consensus of $112 million Bookings of 74 megawatts were up 21 percent year-over-year Sunrun's "Total creation cost per watt" was $3.67, with install cost at $2.80 per watt, sales at $0.78 per watt, G&A at $0.33 per watt, "and platform services margin of $0.24 per watt." Competitor Vivint's total blended cost per watt was $2.94, down from $3.34 in the first quarter, with install co...

Full article: http://www.greentechmedia.com/articles/read/Residential-S...

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via @CleanTechnica

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