Sunrun Rises as Solar Installs Double, Loss Beats Estimatesby
Residential rooftop installer surpassed 100,000 customers
Revenue climbs 47% as company added 94.5 megawatts of panels
Sunrun Inc., an installer of home-solar power systems, rose the most in three months after reporting a smaller-than-expected third-quarter loss.
Sunrun rose 11 percent to $7.31 at the close in New York, the most since Aug. 7, two days after the San Francisco-based company’s initial public offering.
For the third quarter, Sunrun reported a loss excluding some items of 4 cents a share, less than the 34-cent average of five analysts’ estimates compiled by Bloomberg. The statement was released after the close of regular trading Thursday.
Solar installations more than doubled from a year earlier to 94.5 megawatts, boosting revenue 47 percent to $82.6 million. Sunrun first sold shares on Aug. 5 at $14 each.