Quarterly ResultMay 6, 2026, 04:03 PM
Sunrun Q1 Net Income $167.6M, up 235%; Revenue $722.2M
AI Summary
Sunrun reported strong first-quarter 2026 financial results with net income attributable to common stockholders surging 235% to $167.6 million, or $0.71 per basic share, on a 43% increase in total revenue to $722.2 million. The company achieved a record 73% storage attachment rate and paid down $92 million of recourse debt. Despite a decrease in subscriber additions and installed capacity, and negative Q1 cash generation due to project finance timing, Sunrun reiterated its full-year 2026 Cash Generation guidance of $250 million to $450 million.
Key Highlights
- Net income attributable to common stockholders increased 235% to $167.6 million ($0.71 per basic share).
- Total revenue grew 43% year-over-year to $722.2 million in Q1 2026.
- Storage Attachment Rate reached a record 73% in Q1, up from 69% in prior year.
- Paid down $92 million of recourse debt in Q1, reducing borrowings and repaying convertible notes.
- Q1 Cash Generation was -$59 million, impacted by project finance timing and safe harbor investments.
- Reiterated full-year 2026 Cash Generation guidance of $250 million to $450 million.
- Subscriber Additions decreased 25% to 17,665 in Q1 2026.
- Amended non-recourse warehouse facility, increasing commitments by $70 million to $2.7 billion.