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Why Sunrun Stock Is Rising After-Hours – Sunrun (NASDAQ:RUN)

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Sunrun Inc CLASSES Shares are trading higher on Wednesday after hours after the company reported better-than-expected financial results.

Sunrun posted third-quarter revenue of $631.91 million, beating analysts’ average estimate of $563.12 million, according to Benzinga Pro. The company reported quarterly earnings of 96 cents per share, above average estimates of a loss of 8 cents per share.

“Our team is focused on extending our market-leading position by focusing on disciplined and sustainable growth with a particular focus on the fundamentals of business success – financial strength, customer obsession and accelerating innovation,” said Mary PowellCEO of Sunrun.

Sunrun added 35,760 customers in the third quarter, bringing the total number of customers to 759,937. The total number of customers increased 21% year-over-year.

Sunrun management expects the growth of installed solar power capacity to be approximately 25% for the year 2022. The “total value generated” is expected to be over $1 billion in 2022.

See also: Why Etsy shares are skyrocketing after hours

RUN Price Action: Sunrun has a 52-week high of $39.13 and a 52-week low of $16.80.

The stock rose 7.06% after hours to $23.19 at press time.

Photo: andreas160578 from Pixabay.

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