Sunrun Inc. (NASDAQ:RUN) shares were down after the company released a mixed third-quarter earnings report after Thursday's closing bell.
Here's a look at the details in the report.
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The Details: Sunrun reported quarterly earnings of six cents per share, which missed the consensus estimate of 15 cents by 59.73%.
Quarterly revenue came in at $724.55 million, which beat the Street estimate of $602.02 million and was up from revenue of $537.17 million from the same period last year.
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Sunrun reported the following third quarter updates:
- Customer Additions with storage grew 20% during the quarter compared to the prior-year period.
- Storage Attachment Rate was 70% in the third quarter, up from 60% in the prior-year period.
- Sunrun has installed more than 217,000 storage and solar systems, representing approximately 3.7 Gigawatt hours of Networked Storage Capacity.
“Our strategic focus on providing Americans a way to achieve energy independence is yielding strong results,” said Mary Powell, Sunrun’s CEO.
RUN Stock Price: According to data from Benzinga Pro, Sunrun stock was down 7.93% at $18.80 in Thursday's extended trading.
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