Why Sunrun Inc's Shares Plunged 19.8% Today
Shares of solar installer Sunrun Inc (NASDAQ: RUN) fell as much as 19.8% in early trading Friday after reporting fourth-quarter 2019 results. It didn't help that the overall market was down big again today, but earnings certainly didn't give investors much to buy into.
At 3:35 p.m. EST, Sunrun's shares have recovered a bit but were still down 7% on the day.
Revenue in the quarter increased just 1.6% versus a year ago, to $243.9 million, but the company did swing from a net loss of $5.9 million to net income of $12.5 million, or $0.10 per share. Analysts were expecting $225.8 million of revenue and $0.12 per share in earnings, so the bottom line missed expectations.
Source Fool.com
