Sunrun posted a wider-than-expected second-quarter net loss even as revenue surged more than 100% year-over-year.
The provider of solar panels reported a quarterly loss of -20 cents a share, wider than the -11 cents a share in the year-ago quarter. FactSet had a consensus expectation-8 cents a share and - 13 cents a share for adjusted loss.
Revenue rose to $401.2 million, more than double the year-ago quarter’s $181.3 million.
Sunrun named Mary Powell as its next CEO. Powell joined the board in 2018, and is a director of Sunrun and a former president and CEO of the Vermont utility company Green Mountain Power.