Sunrun Q1 revenue rises, beats analyst estimates

SunRun

06/05/2026 21:25

Overview

US residential solar provider's Q1 revenue rose 43% yr/yr, beating analyst expectations

Q1 net income attributable to common stockholders was $167.6 mln, or $0.62 per diluted share

Subscriber additions fell 25% and solar capacity installed declined 19% yr/yr in Q1

Outlook

Sunrun expects Q2 Aggregate Subscriber Value of $1.1 bln to $1.2 bln

Company sees Q2 Contracted Net Value Creation of $100 mln to $200 mln

Sunrun reiterates 2026 Cash Generation guidance of $250 mln to $450 mln, excluding equipment safe harbor investments

Result Drivers

PRODUCT SALES STRUCTURE - Revenue growth was driven by a transaction where certain storage and energy systems under new customer agreements were sold to a third party, while Sunrun retained customer relationships and cross-selling opportunities

SUBSCRIBER GROWTH SLOWDOWN - Subscriber additions fell 25% and solar capacity installed declined 19% yr/yr, reflecting weaker customer growth

CASH GENERATION IMPACTED BY FINANCE TIMING - Negative cash generation was attributed to a shift in project finance transaction activity from Q1 into Q2 and investments in equipment safe harbor, per CFO Danny Abajian

Company press release: ID:nGNX4mD9ZM

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$722.20 mln
$681.93 mln (18 Analysts)
Q1 EPS
$0.62
Q1 Net Income
$167.60 mln
Q1 Operating Expenses
$766 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

Wall Street's median 12-month price target for Sunrun Inc is $19.50, about 44.9% above its May 5 closing price of $13.46

The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 44 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)