Sunrun Shares Drop After Mixed Third Quarter Earnings Report – Sunrun (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) shares fell after the company posted a mixed third-quarter earnings report after Thursday’s closing bell.

View the details in the report here.

The details: Sunrun reported quarterly earnings of six cents per share, which was 59.73% lower than the consensus estimate of 15 cents.

Quarterly revenue came in at $724.55 million, beating the Street estimate of $602.02 million and up from revenue of $537.17 million from the same period last year.

Read next: Michael Burry is super bearish on Palantir – with 5 million puts

Sunrun reported the following updates for the third quarter:

• Storage customer additions grew 20% during the quarter compared to the same period last year.
• The Storage Attachment Rate was 70% in the third quarter, compared to 60% in the prior year period.
• Sunrun has installed more than 217,000 storage and solar systems, representing approximately 3.7 gigawatt hours of network storage capacity.

“Our strategic focus on providing Americans with a way to achieve energy independence is yielding strong results,” he said Mary Powellthe CEO of Sunrun.

RUN stock price: According to data from Benzinga ProSunrun stock fell 7.93% to $18.80 in extended trading Thursday.

Read next:

Photo: Shutterstock