Business World of Renewable Energy

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Business Figures: US Solar Company Sunrun Significantly Increases Revenues And Net Income in 2022

San Francisco, USA - US solar company Sunrun has reported its fourth quarter 2022 (Q4 22) and full year 2022 figures. Both at the quarterly level and for the full year, the US-based RENIXX Group, which is specialised in solar installations, battery storage and residential energy services, posted significant improvements.

Total revenue in Q4 22 was USD 609.2 million, up 40 per cent on the same quarter last year (Q4 2021: USD 435.2 million). Revenue from customer agreements and incentives reached USD 242.3 million, an increase of 21 per cent compared to the same quarter last year (Q4 2021: USD 200.6 million). Sunrun was able to increase sales of solar energy systems and products by 56 percent to USD 366.9 million (Q4 2021: USD 234.6 million). On balance, the solar company posted net income attributable to shareholders of USD 63.0 million in Q4 22 (Q4 21: USD -38.5 million), equivalent to USD 0.29 per diluted share (Q4 2021: USD -0.19).

Full year 2022 revenue also climbed significantly by 44 per cent to USD 2.32 billion (2021: USD 1.61 billion). Revenue from customer agreements and incentives amounted to USD 983.0 million. Compared to the previous year, this is an increase of 19 per cent (2021: USD 826.6 million). Revenue from the sale of solar energy systems and products increased by 71 per cent to USD 1.34 billion (2021: USD 783.4 million). Net income attributable to shareholders was USD 173.4 million in 2022 (2021: USD -79.4 million), or USD 0.80 per diluted share (2021: USD -0.39).

Currently, the share of the company listed in the renewable energy stock index RENIXX World is quoted at 21.99 euros (23.02.2023, closing price Stuttgart Stock Exchange).

Source: IWR Online, 24 Feb 2023