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Sunrun (RUN) to Report Q2 Earnings: What's in the Cards?
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Sunrun Inc. (RUN - Free Report) is set to report second-quarter 2021 results on Aug 5, after market close.
In the last reported quarter, the company witnessed a negative earnings surprise of 266.67%. However, in the trailing four quarters, Sunrun delivered an earnings surprise of 161.91%, on average.
Let's take a closer look at the factors likely to impact the company’s upcoming quarterly results.
Factors to Consider
Sunrun has been witnessing volume growth, courtesy of a modest recovery in solar demand since the end of third-quarter 2020. Notably, the company delivered an all-time record volume in the first quarter of 2021 through its direct-to-home sales channel and thereafter carried on with the strong momentum across all its channels. We expect this trend to have continued in the second quarter of 2021 as well, thereby boosting the company’s overall top-line performance.
Its expanding customer value proposition and competitive advantages are also fetching market share gains for the company. Sunrun also expects to witness more than 100% growth in battery installations during 2021, a trend that most likely continued in the June quarter to boost its second quarter results, significantly.
Following the Vivint Solar acquisition last year, the company doubled its battery attachment rate in California, which in turn, is also likely to have driven its second-quarter revenues.
The Zacks Consensus Estimate for second-quarter sales is pegged at $374.4 million, which indicates a 106.5% surge from the year-ago quarter’s reported figure.
The company increased its run rate cost synergies target in the recent times, which is expected to have favorably contributed to its earnings in the soon-to-be-reported quarter. Regarding the Vivint Solar buyout, the company has begun the integration procedure since the fourth quarter of 2020. This is also expected to have bumped up its bottom-line performance.
The Zacks Consensus Estimate for the company’s second-quarter bottom line is pegged at a loss of 2 cents per share, implying a notable improvement from the year-ago quarter’s reported loss of 11 cents.
Our proven model does not conclusively predict an earnings beat for Sunrun this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But this is not the case here.
Earnings ESP: Sunrun has an Earnings ESP of -363.16%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunrun currently carries a Zacks Rank #4 (Sell).
Enphase Energy (ENPH - Free Report) reported second-quarter 2021 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 42 cents by 26.2%.
First Solar Inc. (FSLR - Free Report) reported second-quarter 2021 adjusted earnings of 77 cents per share, which surpassed the Zacks Consensus Estimate of 60 cents by 28.3%.
SunPower Corp. (SPWR - Free Report) reported second-quarter 2021 adjusted earnings of 6 cents per share, which surpassed the Zacks Consensus Estimate of 3 cents by 100%.
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Sunrun (RUN) to Report Q2 Earnings: What's in the Cards?
Sunrun Inc. (RUN - Free Report) is set to report second-quarter 2021 results on Aug 5, after market close.
In the last reported quarter, the company witnessed a negative earnings surprise of 266.67%. However, in the trailing four quarters, Sunrun delivered an earnings surprise of 161.91%, on average.
Let's take a closer look at the factors likely to impact the company’s upcoming quarterly results.
Factors to Consider
Sunrun has been witnessing volume growth, courtesy of a modest recovery in solar demand since the end of third-quarter 2020. Notably, the company delivered an all-time record volume in the first quarter of 2021 through its direct-to-home sales channel and thereafter carried on with the strong momentum across all its channels. We expect this trend to have continued in the second quarter of 2021 as well, thereby boosting the company’s overall top-line performance.
Its expanding customer value proposition and competitive advantages are also fetching market share gains for the company. Sunrun also expects to witness more than 100% growth in battery installations during 2021, a trend that most likely continued in the June quarter to boost its second quarter results, significantly.
Following the Vivint Solar acquisition last year, the company doubled its battery attachment rate in California, which in turn, is also likely to have driven its second-quarter revenues.
The Zacks Consensus Estimate for second-quarter sales is pegged at $374.4 million, which indicates a 106.5% surge from the year-ago quarter’s reported figure.
The company increased its run rate cost synergies target in the recent times, which is expected to have favorably contributed to its earnings in the soon-to-be-reported quarter. Regarding the Vivint Solar buyout, the company has begun the integration procedure since the fourth quarter of 2020. This is also expected to have bumped up its bottom-line performance.
The Zacks Consensus Estimate for the company’s second-quarter bottom line is pegged at a loss of 2 cents per share, implying a notable improvement from the year-ago quarter’s reported loss of 11 cents.
Sunrun Inc. Price and EPS Surprise
Sunrun Inc. price-eps-surprise | Sunrun Inc. Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Sunrun this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But this is not the case here.
Earnings ESP: Sunrun has an Earnings ESP of -363.16%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunrun currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Solar Releases
Enphase Energy (ENPH - Free Report) reported second-quarter 2021 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 42 cents by 26.2%.
First Solar Inc. (FSLR - Free Report) reported second-quarter 2021 adjusted earnings of 77 cents per share, which surpassed the Zacks Consensus Estimate of 60 cents by 28.3%.
SunPower Corp. (SPWR - Free Report) reported second-quarter 2021 adjusted earnings of 6 cents per share, which surpassed the Zacks Consensus Estimate of 3 cents by 100%.