Sunrun (RUN) announced its 1Q16 earnings results on May 12, 2016, after market hours. In this series, we’ll analyze the company’s 1Q16 results in detail, compare the results with analysts’ expectations, and analyze the factors behind any deviations.
We’ll also have a look at management’s guidance and analysts’ expectations for 2016. We’ll conclude the series with an outlook for the company.
Sunrun’s stock reaction
Sunrun posted better-than-anticipated earnings in 1Q16. It reported adjusted EPS (earnings per share) of $0.13 compared to analysts’ consensus estimate of -$0.59. On May 13, 2016, Sunrun stock opened nearly 16% above its previous day’s closing price.
Sunrun’s better-than-expected 1Q16 results, positive business outlook, and affirmed fiscal 2016 guidance on the back of challenging market conditions helped the stock retain its gains throughout the day. On May 13, Sunrun stock closed at $6.61, a rise of 7.5% compared to its previous day’s closing price of $6.15.
The Guggenheim Solar ETF (TAN), which tracks the broad-based solar market, fell nearly 1% during an intraday trading session on May 13, 2016.
In the next part of this series, we’ll look at Sunrun’s key operating metrics in 1Q16.