Sunrun Inc (NASDAQ:RUN) shares are trading higher in Wednesday's after-hours session after the company reported better-than-expected financial results and raised guidance.
Sunrun said first-quarter revenue increased 48% year-over-year to $495.8 million, which beat the $401.31 million estimate, according to data from Benzinga Pro. The company reported a quarterly net loss of (42) cents per share, which may not compare to estimates for a loss of (17) cents per share.
Sunrun said it expects solar energy capacity installed growth to be 25% or greater for full-year 2022, up from prior guidance of 20% or greater. The company expects solar energy capacity to be installed between 235 and 245 megawatts in the second quarter.
RUN 52-Week Range: $18.61 - $60.60.
The stock was up 11.5% in after-hours at $27.15 at press time.
Photo: courtesy of Sunrun.
