Residential solar energy company Sunrun (NASDAQ:RUN) will be reporting earnings tomorrow after market close. Here's what to expect.
Sunrun missed analysts' revenue expectations by 3% last quarter, reporting revenues of $458.2 million, down 22.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates. It added 24,038 customers to reach a total of 957,313.
Is Sunrun a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Sunrun's revenue to decline 12.3% year on year to $517.7 million, a deceleration from its flat revenue in the same quarter last year. Adjusted loss is expected to come in at -$0.40 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sunrun has missed Wall Street's revenue estimates four times over the last two years.
Looking at Sunrun's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Nextracker delivered year-on-year revenue growth of 50.1%, beating analysts' expectations by 16.8%, and Generac reported flat revenue, in line with consensus estimates. Nextracker traded down 10.3% following the results while Generac was also down 6.4%.
Read our full analysis of Nextracker's results here and Generac's results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 2.8% on average over the last month. Sunrun is up 32% during the same time and is heading into earnings with an average analyst price target of $20.4 (compared to the current share price of $16.7).
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