Q2 25 EPS
$1.07
BEAT +1,030.43%
Est. $-0.12
Q2 25 Revenue
$569.3M
BEAT +1.62%
Est. $560.3M
vs S&P Since Q2 25
+21.4%
BEATING MARKET
RUN +37.3% vs S&P +16.0%
Market Reaction
Did RUN Beat Earnings? Q2 2025 Results
Sunrun delivered a blowout second quarter in 2025, reporting earnings per share of $1.07 against a consensus estimate of negative $0.12, a beat of more than 1,030%, while revenue of $569.34 million edged ahead of the $560.29 million estimate and grew… Read more Sunrun delivered a blowout second quarter in 2025, reporting earnings per share of $1.07 against a consensus estimate of negative $0.12, a beat of more than 1,030%, while revenue of $569.34 million edged ahead of the $560.29 million estimate and grew 8.7% year-over-year. The single biggest driver of the quarter's strength was a dramatic improvement in unit economics, with Contracted Net Value Creation surging 316% year-over-year to $376.00 million, fueled by a record 70% battery storage attachment rate, up from 54% a year ago, which helped push Net Subscriber Value 182% higher to $17,004 per addition. The strong print sent the stock sharply higher, reflecting renewed optimism across the residential solar sector. Looking ahead, Sunrun raised its full-year Contracted Net Value Creation guidance to $1.00 to $1.30 billion from a prior range of $650.00 to $850.00 million, while reiterating Cash Generation guidance of $200.00 to $500.00 million, signaling sustained confidence in its cost efficiency trajectory through the remainder of 2025.
Key Takeaways
- • Storage attachment rate reached all-time high of 70%, up from 54% YoY
- • Customer Additions with storage grew 50% year-over-year
- • Creation Costs per Subscriber Addition decreased 4% YoY to $36,887
- • Installation, sales and overhead cost improvements exceeded 10%
- • Subscriber Value increased 22% to $53,891 per addition
- • Average Investment Tax Credit rose to 42.6% from 35.2% in the prior year
- • Upfront Net Subscriber Value margin expanded by 17 percentage points year-over-year
RUN YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
RUN Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are delivering the best product and experience for customers, underwriting volumes with strong unit margins, driving cost and efficiency improvements, and growing our generation capabilities as the nation's largest distributed power plant operator, hitting records this summer in providing energy capacity for the grid. This focus resulted in Sunrun setting a new record in the second quarter for Contracted Net Value Creation as we achieved an all time high 70% storage attachment rate. Not only is Sunrun providing Americans with the reliable and affordable energy they need to power their lives, we are scaling our generation business, and helping to stabilize the electricity grid while we do it.”
— Mary Powell, Q2 2025 Earnings Press Release
RUN Earnings Trends
RUN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RUN EPS Trend
Earnings per share: estimate vs actual
RUN Revenue Trend
Quarterly revenue: estimate vs actual
RUN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.05 | $0.62 | +1,231.39% | $722.2M | +13.10% |
| Q4 25 BEAT FY | $-0.06 | $0.38 | +699.37% | $1.16B | +89.88% |
| FY Full Year | $1.35 | $1.71 | +26.37% | $2.96B | +23.21% |
| Q3 25 MISS | $0.12 | $0.06 | -48.72% | $724.6M | +20.53% |
| Q2 25 BEAT | $-0.12 | $1.07 | +1,030.43% | $569.3M | +1.62% |
| Q1 25 BEAT | $-0.27 | $0.20 | +173.45% | $504.3M | +3.52% |