Why Sunrun Shares Rise After Hours
Shares of Sunrun Inc RUN are trading higher on Wednesday after hours after the company reported better than expected financial results.
Sunrun posted third-quarter revenue of $631.91 million, beating analysts' average estimate of $563.12 million, according to Benzinga Pro. The company reported quarterly earnings of 96 cents per share, above average estimates of a loss of 8 cents per share.
"Our team is focused on extending our market-leading position by focusing on disciplined and sustainable growth with a particular focus on the fundamentals of business success: strength finance, customer obsession and accelerating innovation," said Mary Powell, CEO of Sunrun.
Sunrun added 35,760 customers in the third quarter, bringing the total number of customers to 759,937. The total number of customers increased by 21% year-over-year.
Sunrun management expects solar power installed capacity growth to be around 25% for the full year of 2022. The "total value generated" is expected to exceed $1 billion in 2022.
See also: Why Etsy shares are skyrocketing after hours < /p>
Run Price Action: Sunrun has a 52 week high of $39.13 and a 52 week low of $16.80.
The stock rose 7.06% after the close to $23.19 at press time.
Photo:andreas160578 on Pixabay.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of Sunrun Inc RUN are trading higher on Wednesday after hours after the company reported better than expected financial results.
Sunrun posted third-quarter revenue of $631.91 million, beating analysts' average estimate of $563.12 million, according to Benzinga Pro. The company reported quarterly earnings of 96 cents per share, above average estimates of a loss of 8 cents per share.
"Our team is focused on extending our market-leading position by focusing on disciplined and sustainable growth with a particular focus on the fundamentals of business success: strength finance, customer obsession and accelerating innovation," said Mary Powell, CEO of Sunrun.
Sunrun added 35,760 customers in the third quarter, bringing the total number of customers to 759,937. The total number of customers increased by 21% year-over-year.
Sunrun management expects solar power installed capacity growth to be around 25% for the full year of 2022. The "total value generated" is expected to exceed $1 billion in 2022.
See also: Why Etsy shares are skyrocketing after hours < /p>
Run Price Action: Sunrun has a 52 week high of $39.13 and a 52 week low of $16.80.
The stock rose 7.06% after the close to $23.19 at press time.
Photo:andreas160578 on Pixabay.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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