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Sunrun (RUN) to Report Q3 Earnings: What's in the Cards?

Zacks Equity Research
·3 min read

Sunrun Inc. RUN is slated to report third-quarter 2022 results on Nov 2 after the closing bell.

In the last reported quarter, the company witnessed an earnings surprise of 70.00%. However, in the trailing four quarters, Sunrun delivered a negative earnings surprise of 77.50%, on average.

Factors to Note

A strong customer base, along with robust growth in volume and new installations, is anticipated to have benefited RUN’s top line in the soon-to-be-reported quarter.

Also, the company’s partnership with Ford is expected to have favorably impacted the company’s performance in the soon-to-be-reported quarter. Furthermore, a ramp-up in battery installation may have boosted the revenues of Sunrun in the third quarter.

Considering all these factors, we remain optimistic about the company’s top line in the third quarter.

The Zacks Consensus Estimate for third-quarter revenues is pegged at $542.2 million, suggesting growth of 23.6% from the year-ago reported figure.

However, from the cost perspective, increased overall operating expenses and capital costs may have adversely impacted its third-quarter earnings.

The Zacks Consensus Estimate for RUN’s third-quarter earnings is pegged at a loss of a penny per share, suggesting a deterioration from the year-ago quarter’s reported earnings.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Sunrun this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.

Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Sunrun currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are three companies you may want to consider from the same sector as these have the right combination of elements to post an earnings beat this season:

Altus Power, Inc. AMPS currently has an Earnings ESP of +100% and a Zacks Rank #3. The Zacks Consensus Estimate for Altus’ third-quarter earnings has been revised upward by 50% in the past 60 days.

The Zacks Consensus Estimate for Altus’ third-quarter sales is pegged at $26.63 billion. AMPS delivered a negative earnings surprise of 200% in the last reported quarter.

Array Technologies ARRY currently has an Earnings ESP of +11.83% and a Zacks Rank #1. The Zacks Consensus Estimate for its third-quarter earnings is pegged at 12 cents per share, implying a solid improvement from the year-ago quarter’s reported loss.

The Zacks Consensus Estimate for Array’s third-quarter sales suggests year-over-year growth of 107.8% from the prior-year reported figure. ARRY has a four-quarter earnings surprise of 40.48%.

Chesapeake Energy CHK currently has an Earnings ESP of +0.42% and a Zacks Rank #2. The Zacks Consensus Estimate for Chesapeake’s third-quarter earnings, pegged at $4.48, implies a year-over-year improvement of a solid 88.2% from the prior-year reported figure.

The Zacks Consensus Estimate for Chesapeake’s third-quarter sales suggests year-over-year growth of 105.7% from the prior-year reported figure. CHK has a four-quarter earnings surprise of 24.48%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report
 
Array Technologies, Inc. (ARRY) : Free Stock Analysis Report
 
Sunrun Inc. (RUN) : Free Stock Analysis Report
 
Altus Power, Inc. (AMPS) : Free Stock Analysis Report
 
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