{"id":44268,"date":"2023-08-04T00:10:17","date_gmt":"2023-08-04T04:10:17","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/sunrun-stock-jumps-after-surprise-profit-why-it-wont-lift-the-solar-gloom\/"},"modified":"2023-08-04T00:10:19","modified_gmt":"2023-08-04T04:10:19","slug":"sunrun-stock-jumps-after-surprise-profit-why-it-wont-lift-the-solar-gloom","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44268","title":{"rendered":"Sunrun Stock Jumps After Surprise Profit. Why It Won&#8217;t Lift the Solar Gloom."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000710147\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>\n        Sunrun<br \/>\n       stock surged higher early Thursday after the country\u2019s largest residential solar developer reported a surprise profit. But it\u2019s not quite the ray of sunshine for the sector investors might think.<\/p>\n<p>Solar stocks are having a tough earnings season so far.<br \/>\n        SolarEdge Technologies<br \/>\n       (ticker: SEDG) issued a disappointing forecast for revenue on Wednesday, sending the stock down 18% in its worst daily performance in nearly a year.<br \/>\n        Enphase Energy<br \/>\n       (ENPH) and<br \/>\n        SunPower Corp<br \/>\n       (SPWR) also warned of weakening demand last week.<\/p>\n<div class=\"paywall\">\n<p>However,<br \/>\n        Sunrun<span>\u2019s<\/span><br \/>\n       (RUN) earnings addressed some concerns that have weighed on the shares. The stock rallied 15% in early trading.<\/p>\n<p>Sunrun\u2019s biggest market is California, and solar adoption there has slowed in recent months because the state reduced the amount of money residential solar customers can make from selling their excess power back to the grid. While Sunrun says the volume of new customers is poised to slow down, the company has been able to convince more customers to install battery power with their solar panels, an upsell that will boost the company\u2019s revenue, according to CEO Mary Powell. Customers elsewhere are increasingly choosing batteries too. <\/p>\n<p>\u201cOur leading position in providing a backup storage offering to customers generates superior and expanding margins and market share gain opportunity,\u201d she said on the earnings call.<\/p>\n<p>In contrast to its peers, Sunrun\u2019s forecasts didn\u2019t disappoint investors. But that\u2019s because the company didn\u2019t issue specific calls on earnings or revenue. Instead, Sunrun said it expects growth in the power-generation capacity its customers have installed to to be between 10% and 15% for the full year. The net value of the subscriber base is expected to be materially higher in the second half than in the first.<\/p>\n<p>Perhaps significantly, though, there were no warnings about demand.\u00a0<\/p>\n<p>The company reported a surprise profit of $55.5 million, or 25 cents per share in the second quarter. Analysts were expecting an adjusted loss of 24 cents per share, according to FactSet. Total revenue rose 1% to $590 million, but missed analysts\u2019 estimates of $628 million.<\/p>\n<p>After the recent gloom surrounding solar stocks, Sunrun\u2019s earnings must be considered good news. It\u2019s just not going to do much to lift the broader sector.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/sunrun-stock-price-earnings-solar-energy-e1d797e2?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sunrun stock surged higher early Thursday after the country\u2019s largest residential solar developer reported a surprise profit. But it\u2019s not quite the ray of sunshine for the sector investors might think. Solar stocks are having a tough earnings season so far. SolarEdge Technologies (ticker: SEDG) issued a disappointing forecast for revenue on Wednesday, sending the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":44269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-44268","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sunrun Stock Jumps After Surprise Profit. Why It Won&#039;t Lift the Solar Gloom. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Sunrun stock surged higher early Thursday after the country\u2019s largest residential solar developer reported a surprise profit. 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