On May 8, 2024, Sunrun Inc., a leading provider of residential solar and storage solutions, reported its financial results for the first quarter ended March 31, 2024. The company exceeded its Q1 guidance for both storage and solar installations, with storage capacity installed reaching 207 Megawatt hours, marking a 192% year-over-year growth, and solar energy capacity installed at 177 Megawatts. Sunrun's net earning assets increased to $5.2 billion, including $783 million in total cash. The company reiterated its cash generation guidance, aiming for an annualized level of $200 million to $500 million in Q4. CEO Mary Powell highlighted the company's momentum with a storage-first, margin-focused strategy, while CFO Danny Abajian emphasized the commitment to driving meaningful cash generation. Sunrun executed two securitizations in 2024, expanded and extended its...Show More

On May 8, 2024, Sunrun Inc., a leading provider of residential solar and storage solutions, reported its financial results for the first quarter ended March 31, 2024. The company exceeded its Q1 guidance for both storage and solar installations, with storage capacity installed reaching 207 Megawatt hours, marking a 192% year-over-year growth, and solar energy capacity installed at 177 Megawatts. Sunrun's net earning assets increased to $5.2 billion, including $783 million in total cash. The company reiterated its cash generation guidance, aiming for an annualized level of $200 million to $500 million in Q4. CEO Mary Powell highlighted the company's momentum with a storage-first, margin-focused strategy, while CFO Danny Abajian emphasized the commitment to driving meaningful cash generation. Sunrun executed two securitizations in 2024, expanded and extended its senior non-recourse revolving warehouse facility, and amended its recourse working capital facility. The company also announced participation in the CalReady VPP and PowerOn Puerto Rico VPP, contributing to grid stability and reducing reliance on fossil fuels. Sunrun's use of the SolarAPP+ permitting tool has helped reduce cycle times, streamlining the customer experience. The company reported a net loss attributable to common stockholders of $87.8 million, or $0.40 per share, for the quarter. Sunrun will host a conference call to discuss these results and provide a business outlook.