Why Sunrun's Stock Is Trading Lower Friday

Sunrun Inc RUN shares are trading lower by 7.2% at $49.62 Friday morning after the company reported worse-than-expected second-quarter EPS results.

Sunrun reported quarterly losses of 20 cents per share which missed the analyst consensus estimate of a loss of 8 cents per share. Sunrun also reported quarterly sales of $401.17 million which beat the analyst consensus estimate of $366.56 million.

“Consumers are seeking clean, affordable, resilient energy sources now more than ever. This quarter's sales volume accelerated to new records and we delivered record installations in both our direct and channel businesses. We are meeting this need while investing in our differentiated service offering, including virtual power plants and integration with electric vehicles,” said Lynn Jurich, Sunrun’s Chief Executive Officer and co-founder.

“Our incredible team is tackling climate change while building a stronger, more resilient grid that puts customers at the center,” Jurich stated.

Sunrun provides homeowners with clean, affordable solar energy and storage. The company engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems in the United States.

Sunrun has a 52-week high of $100.93 and a 52-week low of $37.42.

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