Sunrun Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 02, 2022 at 04:12 pm EDT
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Sunrun Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 271.21 million compared to USD 231.87 million a year ago. Revenue was USD 631.91 million compared to USD 438.77 million a year ago. Net income was USD 210.56 million compared to USD 24.13 million a year ago. Basic earnings per share from continuing operations was USD 0.99 compared to USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 0.11 a year ago.
For the nine months, sales was USD 740.79 million compared to USD 625.94 million a year ago. Revenue was USD 1,712.27 million compared to USD 1,174.73 million a year ago. Net income was USD 110.36 million compared to net loss of USD 40.9 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to basic loss per share from continuing operations of USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 0.51 compared to diluted loss per share from continuing operations of USD 0.2 a year ago.
Sunrun Inc. is a home solar, battery storage, and energy services company. The Company is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. Its primary customers are residential homeowners. The Company also offers battery storage along with solar energy systems to its customers in select markets and sells its services to certain commercial developers through its multifamily and new homes offerings. The Company installs solar energy systems on its customersâ homes and provides them with the solar power produced by those systems for a 20- or 25-year initial term. In addition, it monitors, maintains, and ensures the system during the term of the contract. The Company also provides electric vehicle (EV) chargers, battery retrofits, re-powered or expanding systems, home energy management services, and other home electrification products.
SUNRUN INC. 
