Sunrun reported significant outperformance in the third quarter of 2026, with revenue and earnings far exceeding analyst expectations. The results were primarily driven by a surge in storage attachment rates and a large transaction involving the sale of energy systems to a third party. However, the company narrowed its full-year cash generation guidance to the low end of its previous range.
Key Highlights
- Revenue surged 52% year-over-year to $1.1 billion, nearly double the consensus estimate of $564.3 million.
- The storage attachment rate reached a record 75%, significantly higher than the 42% expected by analysts and up from 70% in the prior year.
- Diluted EPS of $0.56 beat the $0.26 estimate, supported by $153.2 million in net income attributable to common stockholders.
- Management lowered the top end of full-year 2026 cash generation guidance to approximately $200 million, down from the previous range of $200 million to $375 million.
- Networked storage capacity reached 5.0 gigawatt-hours, while installations in the direct business grew 9% year-over-year.