Sunrun Increases Revenues
San Francisco – US solar company Sunrun announced financial results for the fourth quarter and full year ended December 31, 2016.
Total revenue grew to $453.9 million in full year 2016, up $149.3 million, or 49 percent from 2015. Operating leases and incentives revenue grew 43 percent year-over-year to $168.4 million. Solar energy systems and product sales grew 53 percent year-over-year to $285.5 million. Total cost of revenue was $399.2 million, an increase of 42 percent year-over-year. Total operating expenses were $668.8 million, an increase of 28 percent year-over-year. Net income available to common stockholders was $91.7 million in full year 2016, compared to net loss available to common stockholders of $53.1 million in 2015. Diluted net earnings per share available to common shareholders was $0.87 per share.
Guidance for Q1 and Full Year 2017 In Q1, Sunrun expects to deploy approximately 69 MW, reflecting 15 percent year-over-year growth. For the full year 2017, we expect to deploy 325 MWs, reflecting 15 percent year-over-year growth.
Source: IWR Online, 10 Mar 2017