WestKai
2021-06-30
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Sunrun Stock Forecast: The Outlook Is Improving<blockquote>Sunrun 股票预测：前景正在改善</blockquote>
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(RUN) is an American company that specializes in the design, development, and maintenance of residential solar panels, battery storage units, and other energy services designs. Solar panels are installed, monitored, and maintained on the rooftops of homeowners to provide solar electricity, and the company has emerged as a leading player in this industry in the United States. Sunrun sells its products to homeowners through retail, in-home sales, canvassing, partner networks, and online. The energy service solutions are provided through its lease and power purchase agreements. The company was founded in 2007 with the goal of making renewable energy more accessible to everyone.</p><p><blockquote>Sunrun Inc. (RUN) 是一家美国公司，专门从事住宅太阳能电池板、电池存储单元和其他能源服务设计的设计、开发和维护。太阳能电池板安装、监控和维护在房主的屋顶上，以提供太阳能电力，该公司已成为美国该行业的领先企业。Sunrun通过零售、上门销售、拉票、合作伙伴网络和在线向房主销售其产品。能源服务解决方案通过其租赁和购电协议提供。该公司成立于2007年，目标是让每个人都更容易获得可再生能源。</blockquote></p><p> Sunrun stock surged 15% on June 16 after Morgan Stanley (MS)raisedits price target for Sunrun from $86 to $91 per share. According to analyst Stephen Byrd, Sunrun has the potential to become a major player in the electric vehicle industry as solar power solutions can be used to charge electric vehicles. The outlook for the company is promising, and the lackluster market performance this year (the stock is down 18% YTD) makes Sunrun a good bet for contrarian investors looking for high risk-high reward opportunities.</p><p><blockquote>摩根士丹利 (MS) 将 Sunrun 的目标价从每股 86 美元上调至 91 美元后，Sunrun 股价于 6 月 16 日飙升 15%。分析师 Stephen Byrd 表示，Sunrun 有潜力成为电动汽车行业的主要参与者，因为太阳能解决方案可用于为电动汽车充电。该公司的前景充满希望，而今年低迷的市场表现（该股年初至今下跌 18%）使 Sunrun 成为寻求高风险高回报机会的逆向投资者的不错选择。</blockquote></p><p> <b>First-quarter earnings recap</b></p><p><blockquote><b>第一季度收益回顾</b></blockquote></p><p> Sunrun released first-quarter earnings on May 5 that topped revenue estimates but missed the earnings estimates of Wall Street analysts. The companyreporteda loss of 12 cents per share whereas analysts were expecting a loss of just 4 cents per share. The total revenue was $334.8 million, up 59% year-over-year with customer agreements and incentives generating $174.6 million and solar energy systems and product sales generating $160.2 million of revenue. Sunrun added 23,556 new customers in the first quarter of 2021, which lifted the total customer base to over 573,000. The annual recurring revenue from subscribers now stands at $683 million with an average remaining contract life of 17 years.</p><p><blockquote>Sunrun 于 5 月 5 日发布的第一季度财报超出了收入预期，但低于华尔街分析师的盈利预期。该公司报告每股亏损 12 美分，而分析师预计每股亏损仅为 4 美分。总收入为 3.348 亿美元，同比增长 59%，其中客户协议和激励措施产生 1.746 亿美元，太阳能系统和产品销售产生 1.602 亿美元收入。Sunrun在2021年第一季度新增了23,556名客户，使总客户群超过573,000名。来自用户的年度经常性收入目前为 6.83 亿美元，平均剩余合同期限为 17 年。</blockquote></p><p> Commenting on the company's first-quarter performance, CEO Lynn Jurichsaid:</p><p><blockquote>首席执行官 Lynn Jurich 在评论公司第一季度业绩时表示：</blockquote></p><p> <i>This year is on track to be the best in the company's history. With an accelerating growth rate and expanding market reach, Sunrun is leading the country to a clean energy future. Now is the time for us to move to a distributed energy system to meet the increased demands placed on our energy system from broad-based adoption of electric vehicles and improve the resiliency of our aging energy system.</i> The company is benefiting from favorable macroeconomic conditions, and the continued increase in the number of customers is a testament to how Sunrun is converting the favorable industry outlook into good numbers.</p><p><blockquote><i>今年有望成为公司历史上最好的一年。随着增长率的加快和市场覆盖面的扩大，Sunrun正在引领国家走向清洁能源的未来。现在是我们转向分布式能源系统的时候了，以满足电动汽车的广泛采用对我们的能源系统提出的日益增长的需求，并提高我们老化的能源系统的弹性。</i>该公司受益于有利的宏观经济条件，客户数量的持续增长证明了Sunrun如何将有利的行业前景转化为良好的数字。</blockquote></p><p> <b>Sunrun is pursuing sustainable goals</b></p><p><blockquote><b>Sunrun 正在追求可持续发展目标</b></blockquote></p><p> In the first quarter, Sunrun took various impactful steps including the launch of Sunrun Academy to expand work opportunities and promote career growth. The company was also chosen as the first national solar company to participate in the Department of Defense's SkillBridge Programme and became the first solar company to be approved for the Military Spouse Employment Program which provides employment opportunities for military spouses.</p><p><blockquote>在第一季度，Sunrun采取了各种有影响力的措施，包括推出Sunrun Academy，以扩大工作机会和促进职业发展。该公司还被选为第一家参与国防部 SkillBridge 计划的国家太阳能公司，并成为获批参加军人配偶就业计划的first solar公司，该计划为军人配偶提供就业机会。</blockquote></p><p> Sunrun's fourth annualImpact Reportpublished in April highlights its sustainability goals including offsetting more than 600 million metric tons of carbon emissions from the company's systems. In addition, the company aims to reach net-zero carbon emissions from its operations by 2040, convert one-third of its vehicle fleet to electric or hybrid within 5 years, and deliver at least 500 megawatts of solar power to low-income households across the country by 2030. Sunrun has also highlighted its commitment to creating a diverse and inclusive workforce with women accounting for 50% of the top management team and 44% of the Board of Directors as of December 31, 2020.</p><p><blockquote>Sunrun 于 4 月份发布的第四份年度影响报告强调了其可持续发展目标，包括抵消公司系统超过 6 亿吨的碳排放。此外，该公司的目标是到 2040 年实现运营净零碳排放，在 5 年内将三分之一的车队转换为电动或混合动力汽车，并向全国低收入家庭提供至少 500 兆瓦的太阳能到 2030 年。Sunrun还强调了其致力于创建多元化和包容性的员工队伍的承诺，截至2020年12月31日，女性占高层管理团队的50%和董事会的44%。</blockquote></p><p></p><p> The investment landscape is changing dramatically as investors are increasingly getting behind companies that are promoting sustainable development goals, which is a secular trend that is expected to be a major factor that determines investments returns in the coming decades. Going by Sunrun's formidable policies discussed above, it would be reasonable to assume that the company will attract high valuation multiples in the future once the plans set in motion deliver the expected goods.</p><p><blockquote>随着投资者越来越多地支持推动可持续发展目标的公司，投资格局正在发生巨大变化，这是一个长期趋势，预计将成为未来几十年决定投资回报的主要因素。根据上面讨论的Sunrun强大的政策，有理由假设，一旦启动的计划交付了预期的产品，该公司将在未来吸引高估值倍数。</blockquote></p><p> <b>Sunrun is expanding its horizons</b></p><p><blockquote><b>Sunrun正在扩大其视野</b></blockquote></p><p> Sunrun and Ford Motor Company (F) entered into anagreementon May 19 to provide a seamless installation of 80-amp Ford Charge Station Pro and Home Charging Systems for the all-electric Ford F-150 Lightning truck. The F-150 Lightning, an electric version of Ford's most famous pickup truck, can serve as a backup domestic power source during a power outage as well, providing low-carbon electricity to households. Under this partnership, customers are also offered the opportunity to install a household solar and battery system allowing them to power their homes with clean, affordable energy and charge their F-150 Lightning at the same time. Ryan O'Gorman, Ford's head of energy services, said that the automaker is the first in the United States to offer this additional power supply opportunity for buyers of vehicles.</p><p><blockquote>Sunrun 和福特汽车公司 (F) 于 5 月 19 日达成协议，为全电动福特 F-150 Lightning 卡车提供 80 安培福特充电站 Pro 和家用充电系统的无缝安装。F-150 Lightning是福特最著名皮卡的电动版本，也可以在停电时作为备用家用电源，为家庭提供低碳电力。根据这种合作伙伴关系，客户还有机会安装家用太阳能和电池系统，使他们能够使用清洁、负担得起的能源为家庭供电，同时为他们的 F-150 Lightning 充电。福特能源服务主管瑞安·奥戈尔曼 (Ryan O’Gorman) 表示，该汽车制造商是美国第一家为汽车买家提供额外电源机会的汽车制造商。</blockquote></p><p> Commenting on this partnership, Sunrun CEO Lynn Jurich said:</p><p><blockquote>Sunrun 首席执行官 Lynn Jurich 在评论此次合作时表示：</blockquote></p><p> <i>Ford is a trusted brand that's been at the forefront of American innovation for over 100 years, and it is exciting to see them electrifying their most popular truck in company history. We're at the beginning stages of a partnership that can bring energy resilience to millions of Americans across the country.</i> This partnership could open up new doors for Sunrun in the future as many other electric vehicle manufacturers could look to embrace this strategy to compete with Ford.</p><p><blockquote><i>福特是一个值得信赖的品牌，100多年来一直处于美国创新的最前沿，看到他们为公司历史上最受欢迎的卡车实现电气化令人兴奋。我们正处于合作伙伴关系的初始阶段，这种合作伙伴关系可以为全国数百万美国人带来能源弹性。</i>这种合作伙伴关系可能会在未来为 Sunrun 打开新的大门，因为许多其他电动汽车制造商可能会寻求采用这一战略来与福特竞争。</blockquote></p><p> <b>Industry outlook</b></p><p><blockquote><b>行业展望</b></blockquote></p><p> The electric vehicle market has grown at stellar rates over the last 5 years and President Biden's announcement of EV adoption in federal fleets is boosting the electric ecosystem even further. Electric car registrations grew by 41% in 2020 according to the International Energy Agency, despite a 16% decline in automobile sales caused by the virus-induced recession. Global EV sales increased by 140% in the first quarter of 2021, aided by the sale of around 500,000 vehicles in China and 450,000 in Europe.</p><p><blockquote>在过去的5年里，电动汽车市场以惊人的速度增长，拜登总统宣布在联邦车队中采用电动汽车，进一步推动了电动生态系统的发展。根据国际能源署的数据，尽管病毒引发的经济衰退导致汽车销量下降了16%，但2020年电动汽车注册量增长了41%。2021 年第一季度，全球电动汽车销量增长了 140%，其中中国销量约为 50 万辆，欧洲销量约为 45 万辆。</blockquote></p><p> <b>Exhibit 1: Global electric vehicle stock by region, 2010-2020</b></p><p><blockquote><b>图表1：2010-2020年按地区划分的全球电动汽车存量</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3cf04c537c45782a4b0587ed2fbefb15\" tg-width=\"359\" tg-height=\"310\"><span>Source:IEA</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：国际能源署</span></p></blockquote></p><p> The majority of Original Equipment Manufacturers in the world are speeding up the transition to electric mobility by upgrading fleets and establishing charging stations. In 2020, consumer spending on electric vehicles reached $120 billion and governments around the world spent $14 billion to promote electric vehicle sales.</p><p><blockquote>世界上大多数原始设备制造商正在通过升级车队和建立充电站来加速向电动汽车的过渡。2020年，消费者在电动汽车上的支出达到1200亿美元，世界各国政府花费140亿美元来促进电动汽车的销售。</blockquote></p><p> <b>Exhibit 2: Consumer and government spending on EVs</b></p><p><blockquote><b>图表 2：消费者和政府在电动汽车上的支出</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ca5289310617cf3430ad1d935c86a2ce\" tg-width=\"602\" tg-height=\"326\"><span>Source: IEA</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：国际能源署</span></p></blockquote></p><p> Commenting on Sunrun's market position in this segment, CEO Lynn said:</p><p><blockquote>首席执行官 Lynn 在评论 Sunrun 在该领域的市场地位时表示：</blockquote></p><p> <i>We are actively exploring ways to help consumers in the grid manage the transition to electric vehicles. We know the country must make the switch to EVs to further reduce carbon emissions and we believe Sunrun will be a key enabler of this transition. Homes with EVs consume approximately double the amount of electricity. Home solar and batteries are needed to meet this increased strain on the electric system. And Sunrun is well-positioned to be a leading provider of these services given our expertise managing and installing at-home energy infrastructure and our national footprint. Electric vehicles create positive flywheel defects. Homes need larger solar systems to support the increased electricity consumption. These larger systems come at a high incremental margin since the cost to increase the size is relatively low. And EVs can be integrated into a comprehensive home energy management system to maximize the economic benefits and resiliency for families. These compounding benefits will accelerate the transition to a distributed grid with home solar, batteries, and EVs even faster than most realized</i>. Sunrun still has a long way to go to develop competitive advantages that could help it earn economic profits in the long run, but the company seems to be moving in the right direction by positioning itself to benefit from the transition to electric vehicles.</p><p><blockquote><i>我们正在积极探索帮助电网消费者管理向电动汽车的过渡的方法。我们知道该国必须转向电动汽车以进一步减少碳排放，我们相信Sunrun将是这一转变的关键推动者。拥有电动汽车的家庭消耗的电量大约是原来的两倍。需要家用太阳能和电池来满足电力系统日益增长的压力。鉴于我们在管理和安装家庭能源基础设施方面的专业知识以及我们在全国的足迹，Sunrun完全有能力成为这些服务的领先提供商。电动汽车会产生积极的飞轮缺陷。家庭需要更大的太阳能系统来支持增加的电力消耗。这些较大的系统具有很高的增量利润，因为增加尺寸的成本相对较低。电动汽车可以集成到全面的家庭能源管理系统中，以最大限度地提高家庭的经济效益和弹性。这些复合效益将加速向家用太阳能、电池和电动汽车分布式电网的过渡，甚至比大多数实现的速度还要快</i>. Sunrun 在发展竞争优势以帮助其长期赚取经济利润方面还有很长的路要走，但该公司似乎正在朝着正确的方向前进，将自己定位为从向电动汽车的转型中受益。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p></p><p> Sunrun is America's leading household solar power company. With competent management and a long-term growth strategy, the company has achieved substantial growth in the last few years. The company has contributed toward environmental protection goals by removing 8.1 million metric tons of carbon pollution since 2007, which goes on to show that investor enthusiasm toward Sunrun is indeed based on good numbers. Although Sunrun faces stiff competition from other renewable energy providers, strategic alliances are likely to help the company deliver good numbers in the coming years. Sunrun is not yet profitable, but the industry outlook suggests that it has a long runway for growth, and we expect Sunrun to post consistently growing profits in the next 5 years. If customers and the government continue to shift to and encourage the use of renewable energy, which is the most likely scenario, Sunrun will be in a good position to report exponential growth in revenue and earnings.</p><p><blockquote>Sunrun是美国领先的家用太阳能公司。凭借称职的管理和长期的增长战略，该公司在过去几年实现了大幅增长。自2007年以来，该公司已消除810万公吨碳污染，为环境保护目标做出了贡献，这进一步表明投资者对Sunrun的热情确实是基于良好的数字。尽管Sunrun面临着来自其他可再生能源供应商的激烈竞争，但战略联盟可能会帮助该公司在未来几年取得良好的业绩。Sunrun 尚未盈利，但行业前景表明其增长道路漫长，我们预计 Sunrun 将在未来 5 年内实现持续增长的利润。如果客户和政府继续转向并鼓励使用可再生能源（这是最有可能的情况），Sunrun 将处于有利地位，报告收入和盈利呈指数级增长。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sunrun Stock Forecast: The Outlook Is Improving<blockquote>Sunrun 股票预测：前景正在改善</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSunrun Stock Forecast: The Outlook Is Improving<blockquote>Sunrun 股票预测：前景正在改善</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-30 17:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul> <li>Sunrun reported better-than-expected revenue for the first quarter, and the financial performance is continuing to improve.</li> <li>With the global investment landscape changing dramatically, Sunrun is well-positioned to emerge as a big winner.</li> <li>The company struck a deal with Ford recently and is aggressively positioning itself to benefit from the exponential growth of the electric vehicle industry.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27fcfe9d29fbae21d2ee04f3454a00dd\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>AleksandarGeorgiev/E+ via Getty Images</span></p><p><blockquote><ul><li>Sunrun公布第一季度营收好于预期，财务表现持续改善。</li><li>随着全球投资格局的巨大变化，Sunrun有望成为大赢家。</li><li>该公司最近与福特达成了一项协议，并积极定位自己，以从电动汽车行业的指数增长中受益。</li></ul><p class=\"t-img-caption\"><span>AleksandarGeorgiev/E+ 来自 Getty Images</span></p></blockquote></p><p> Sunrun Inc. (RUN) is an American company that specializes in the design, development, and maintenance of residential solar panels, battery storage units, and other energy services designs. Solar panels are installed, monitored, and maintained on the rooftops of homeowners to provide solar electricity, and the company has emerged as a leading player in this industry in the United States. Sunrun sells its products to homeowners through retail, in-home sales, canvassing, partner networks, and online. The energy service solutions are provided through its lease and power purchase agreements. The company was founded in 2007 with the goal of making renewable energy more accessible to everyone.</p><p><blockquote>Sunrun Inc. (RUN) 是一家美国公司，专门从事住宅太阳能电池板、电池存储单元和其他能源服务设计的设计、开发和维护。太阳能电池板安装、监控和维护在房主的屋顶上，以提供太阳能电力，该公司已成为美国该行业的领先企业。Sunrun通过零售、上门销售、拉票、合作伙伴网络和在线向房主销售其产品。能源服务解决方案通过其租赁和购电协议提供。该公司成立于2007年，目标是让每个人都更容易获得可再生能源。</blockquote></p><p> Sunrun stock surged 15% on June 16 after Morgan Stanley (MS)raisedits price target for Sunrun from $86 to $91 per share. According to analyst Stephen Byrd, Sunrun has the potential to become a major player in the electric vehicle industry as solar power solutions can be used to charge electric vehicles. The outlook for the company is promising, and the lackluster market performance this year (the stock is down 18% YTD) makes Sunrun a good bet for contrarian investors looking for high risk-high reward opportunities.</p><p><blockquote>摩根士丹利 (MS) 将 Sunrun 的目标价从每股 86 美元上调至 91 美元后，Sunrun 股价于 6 月 16 日飙升 15%。分析师 Stephen Byrd 表示，Sunrun 有潜力成为电动汽车行业的主要参与者，因为太阳能解决方案可用于为电动汽车充电。该公司的前景充满希望，而今年低迷的市场表现（该股年初至今下跌 18%）使 Sunrun 成为寻求高风险高回报机会的逆向投资者的不错选择。</blockquote></p><p> <b>First-quarter earnings recap</b></p><p><blockquote><b>第一季度收益回顾</b></blockquote></p><p> Sunrun released first-quarter earnings on May 5 that topped revenue estimates but missed the earnings estimates of Wall Street analysts. The companyreporteda loss of 12 cents per share whereas analysts were expecting a loss of just 4 cents per share. The total revenue was $334.8 million, up 59% year-over-year with customer agreements and incentives generating $174.6 million and solar energy systems and product sales generating $160.2 million of revenue. Sunrun added 23,556 new customers in the first quarter of 2021, which lifted the total customer base to over 573,000. The annual recurring revenue from subscribers now stands at $683 million with an average remaining contract life of 17 years.</p><p><blockquote>Sunrun 于 5 月 5 日发布的第一季度财报超出了收入预期，但低于华尔街分析师的盈利预期。该公司报告每股亏损 12 美分，而分析师预计每股亏损仅为 4 美分。总收入为 3.348 亿美元，同比增长 59%，其中客户协议和激励措施产生 1.746 亿美元，太阳能系统和产品销售产生 1.602 亿美元收入。Sunrun在2021年第一季度新增了23,556名客户，使总客户群超过573,000名。来自用户的年度经常性收入目前为 6.83 亿美元，平均剩余合同期限为 17 年。</blockquote></p><p> Commenting on the company's first-quarter performance, CEO Lynn Jurichsaid:</p><p><blockquote>首席执行官 Lynn Jurich 在评论公司第一季度业绩时表示：</blockquote></p><p> <i>This year is on track to be the best in the company's history. With an accelerating growth rate and expanding market reach, Sunrun is leading the country to a clean energy future. Now is the time for us to move to a distributed energy system to meet the increased demands placed on our energy system from broad-based adoption of electric vehicles and improve the resiliency of our aging energy system.</i> The company is benefiting from favorable macroeconomic conditions, and the continued increase in the number of customers is a testament to how Sunrun is converting the favorable industry outlook into good numbers.</p><p><blockquote><i>今年有望成为公司历史上最好的一年。随着增长率的加快和市场覆盖面的扩大，Sunrun正在引领国家走向清洁能源的未来。现在是我们转向分布式能源系统的时候了，以满足电动汽车的广泛采用对我们的能源系统提出的日益增长的需求，并提高我们老化的能源系统的弹性。</i>该公司受益于有利的宏观经济条件，客户数量的持续增长证明了Sunrun如何将有利的行业前景转化为良好的数字。</blockquote></p><p> <b>Sunrun is pursuing sustainable goals</b></p><p><blockquote><b>Sunrun 正在追求可持续发展目标</b></blockquote></p><p> In the first quarter, Sunrun took various impactful steps including the launch of Sunrun Academy to expand work opportunities and promote career growth. The company was also chosen as the first national solar company to participate in the Department of Defense's SkillBridge Programme and became the first solar company to be approved for the Military Spouse Employment Program which provides employment opportunities for military spouses.</p><p><blockquote>在第一季度，Sunrun采取了各种有影响力的措施，包括推出Sunrun Academy，以扩大工作机会和促进职业发展。该公司还被选为第一家参与国防部 SkillBridge 计划的国家太阳能公司，并成为获批参加军人配偶就业计划的first solar公司，该计划为军人配偶提供就业机会。</blockquote></p><p> Sunrun's fourth annualImpact Reportpublished in April highlights its sustainability goals including offsetting more than 600 million metric tons of carbon emissions from the company's systems. In addition, the company aims to reach net-zero carbon emissions from its operations by 2040, convert one-third of its vehicle fleet to electric or hybrid within 5 years, and deliver at least 500 megawatts of solar power to low-income households across the country by 2030. Sunrun has also highlighted its commitment to creating a diverse and inclusive workforce with women accounting for 50% of the top management team and 44% of the Board of Directors as of December 31, 2020.</p><p><blockquote>Sunrun 于 4 月份发布的第四份年度影响报告强调了其可持续发展目标，包括抵消公司系统超过 6 亿吨的碳排放。此外，该公司的目标是到 2040 年实现运营净零碳排放，在 5 年内将三分之一的车队转换为电动或混合动力汽车，并向全国低收入家庭提供至少 500 兆瓦的太阳能到 2030 年。Sunrun还强调了其致力于创建多元化和包容性的员工队伍的承诺，截至2020年12月31日，女性占高层管理团队的50%和董事会的44%。</blockquote></p><p></p><p> The investment landscape is changing dramatically as investors are increasingly getting behind companies that are promoting sustainable development goals, which is a secular trend that is expected to be a major factor that determines investments returns in the coming decades. Going by Sunrun's formidable policies discussed above, it would be reasonable to assume that the company will attract high valuation multiples in the future once the plans set in motion deliver the expected goods.</p><p><blockquote>随着投资者越来越多地支持推动可持续发展目标的公司，投资格局正在发生巨大变化，这是一个长期趋势，预计将成为未来几十年决定投资回报的主要因素。根据上面讨论的Sunrun强大的政策，有理由假设，一旦启动的计划交付了预期的产品，该公司将在未来吸引高估值倍数。</blockquote></p><p> <b>Sunrun is expanding its horizons</b></p><p><blockquote><b>Sunrun正在扩大其视野</b></blockquote></p><p> Sunrun and Ford Motor Company (F) entered into anagreementon May 19 to provide a seamless installation of 80-amp Ford Charge Station Pro and Home Charging Systems for the all-electric Ford F-150 Lightning truck. The F-150 Lightning, an electric version of Ford's most famous pickup truck, can serve as a backup domestic power source during a power outage as well, providing low-carbon electricity to households. Under this partnership, customers are also offered the opportunity to install a household solar and battery system allowing them to power their homes with clean, affordable energy and charge their F-150 Lightning at the same time. Ryan O'Gorman, Ford's head of energy services, said that the automaker is the first in the United States to offer this additional power supply opportunity for buyers of vehicles.</p><p><blockquote>Sunrun 和福特汽车公司 (F) 于 5 月 19 日达成协议，为全电动福特 F-150 Lightning 卡车提供 80 安培福特充电站 Pro 和家用充电系统的无缝安装。F-150 Lightning是福特最著名皮卡的电动版本，也可以在停电时作为备用家用电源，为家庭提供低碳电力。根据这种合作伙伴关系，客户还有机会安装家用太阳能和电池系统，使他们能够使用清洁、负担得起的能源为家庭供电，同时为他们的 F-150 Lightning 充电。福特能源服务主管瑞安·奥戈尔曼 (Ryan O’Gorman) 表示，该汽车制造商是美国第一家为汽车买家提供额外电源机会的汽车制造商。</blockquote></p><p> Commenting on this partnership, Sunrun CEO Lynn Jurich said:</p><p><blockquote>Sunrun 首席执行官 Lynn Jurich 在评论此次合作时表示：</blockquote></p><p> <i>Ford is a trusted brand that's been at the forefront of American innovation for over 100 years, and it is exciting to see them electrifying their most popular truck in company history. We're at the beginning stages of a partnership that can bring energy resilience to millions of Americans across the country.</i> This partnership could open up new doors for Sunrun in the future as many other electric vehicle manufacturers could look to embrace this strategy to compete with Ford.</p><p><blockquote><i>福特是一个值得信赖的品牌，100多年来一直处于美国创新的最前沿，看到他们为公司历史上最受欢迎的卡车实现电气化令人兴奋。我们正处于合作伙伴关系的初始阶段，这种合作伙伴关系可以为全国数百万美国人带来能源弹性。</i>这种合作伙伴关系可能会在未来为 Sunrun 打开新的大门，因为许多其他电动汽车制造商可能会寻求采用这一战略来与福特竞争。</blockquote></p><p> <b>Industry outlook</b></p><p><blockquote><b>行业展望</b></blockquote></p><p> The electric vehicle market has grown at stellar rates over the last 5 years and President Biden's announcement of EV adoption in federal fleets is boosting the electric ecosystem even further. Electric car registrations grew by 41% in 2020 according to the International Energy Agency, despite a 16% decline in automobile sales caused by the virus-induced recession. Global EV sales increased by 140% in the first quarter of 2021, aided by the sale of around 500,000 vehicles in China and 450,000 in Europe.</p><p><blockquote>在过去的5年里，电动汽车市场以惊人的速度增长，拜登总统宣布在联邦车队中采用电动汽车，进一步推动了电动生态系统的发展。根据国际能源署的数据，尽管病毒引发的经济衰退导致汽车销量下降了16%，但2020年电动汽车注册量增长了41%。2021 年第一季度，全球电动汽车销量增长了 140%，其中中国销量约为 50 万辆，欧洲销量约为 45 万辆。</blockquote></p><p> <b>Exhibit 1: Global electric vehicle stock by region, 2010-2020</b></p><p><blockquote><b>图表1：2010-2020年按地区划分的全球电动汽车存量</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3cf04c537c45782a4b0587ed2fbefb15\" tg-width=\"359\" tg-height=\"310\"><span>Source:IEA</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：国际能源署</span></p></blockquote></p><p> The majority of Original Equipment Manufacturers in the world are speeding up the transition to electric mobility by upgrading fleets and establishing charging stations. In 2020, consumer spending on electric vehicles reached $120 billion and governments around the world spent $14 billion to promote electric vehicle sales.</p><p><blockquote>世界上大多数原始设备制造商正在通过升级车队和建立充电站来加速向电动汽车的过渡。2020年，消费者在电动汽车上的支出达到1200亿美元，世界各国政府花费140亿美元来促进电动汽车的销售。</blockquote></p><p> <b>Exhibit 2: Consumer and government spending on EVs</b></p><p><blockquote><b>图表 2：消费者和政府在电动汽车上的支出</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ca5289310617cf3430ad1d935c86a2ce\" tg-width=\"602\" tg-height=\"326\"><span>Source: IEA</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：国际能源署</span></p></blockquote></p><p> Commenting on Sunrun's market position in this segment, CEO Lynn said:</p><p><blockquote>首席执行官 Lynn 在评论 Sunrun 在该领域的市场地位时表示：</blockquote></p><p> <i>We are actively exploring ways to help consumers in the grid manage the transition to electric vehicles. We know the country must make the switch to EVs to further reduce carbon emissions and we believe Sunrun will be a key enabler of this transition. Homes with EVs consume approximately double the amount of electricity. Home solar and batteries are needed to meet this increased strain on the electric system. And Sunrun is well-positioned to be a leading provider of these services given our expertise managing and installing at-home energy infrastructure and our national footprint. Electric vehicles create positive flywheel defects. Homes need larger solar systems to support the increased electricity consumption. These larger systems come at a high incremental margin since the cost to increase the size is relatively low. And EVs can be integrated into a comprehensive home energy management system to maximize the economic benefits and resiliency for families. These compounding benefits will accelerate the transition to a distributed grid with home solar, batteries, and EVs even faster than most realized</i>. Sunrun still has a long way to go to develop competitive advantages that could help it earn economic profits in the long run, but the company seems to be moving in the right direction by positioning itself to benefit from the transition to electric vehicles.</p><p><blockquote><i>我们正在积极探索帮助电网消费者管理向电动汽车的过渡的方法。我们知道该国必须转向电动汽车以进一步减少碳排放，我们相信Sunrun将是这一转变的关键推动者。拥有电动汽车的家庭消耗的电量大约是原来的两倍。需要家用太阳能和电池来满足电力系统日益增长的压力。鉴于我们在管理和安装家庭能源基础设施方面的专业知识以及我们在全国的足迹，Sunrun完全有能力成为这些服务的领先提供商。电动汽车会产生积极的飞轮缺陷。家庭需要更大的太阳能系统来支持增加的电力消耗。这些较大的系统具有很高的增量利润，因为增加尺寸的成本相对较低。电动汽车可以集成到全面的家庭能源管理系统中，以最大限度地提高家庭的经济效益和弹性。这些复合效益将加速向家用太阳能、电池和电动汽车分布式电网的过渡，甚至比大多数实现的速度还要快</i>. Sunrun 在发展竞争优势以帮助其长期赚取经济利润方面还有很长的路要走，但该公司似乎正在朝着正确的方向前进，将自己定位为从向电动汽车的转型中受益。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p></p><p> Sunrun is America's leading household solar power company. With competent management and a long-term growth strategy, the company has achieved substantial growth in the last few years. The company has contributed toward environmental protection goals by removing 8.1 million metric tons of carbon pollution since 2007, which goes on to show that investor enthusiasm toward Sunrun is indeed based on good numbers. Although Sunrun faces stiff competition from other renewable energy providers, strategic alliances are likely to help the company deliver good numbers in the coming years. Sunrun is not yet profitable, but the industry outlook suggests that it has a long runway for growth, and we expect Sunrun to post consistently growing profits in the next 5 years. If customers and the government continue to shift to and encourage the use of renewable energy, which is the most likely scenario, Sunrun will be in a good position to report exponential growth in revenue and earnings.</p><p><blockquote>Sunrun是美国领先的家用太阳能公司。凭借称职的管理和长期的增长战略，该公司在过去几年实现了大幅增长。自2007年以来，该公司已消除810万公吨碳污染，为环境保护目标做出了贡献，这进一步表明投资者对Sunrun的热情确实是基于良好的数字。尽管Sunrun面临着来自其他可再生能源供应商的激烈竞争，但战略联盟可能会帮助该公司在未来几年取得良好的业绩。Sunrun 尚未盈利，但行业前景表明其增长道路漫长，我们预计 Sunrun 将在未来 5 年内实现持续增长的利润。如果客户和政府继续转向并鼓励使用可再生能源（这是最有可能的情况），Sunrun 将处于有利地位，报告收入和盈利呈指数级增长。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4437140-sunrun-stock-forecast-outlook-is-improving\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RUN":"Sunrun Inc."},"source_url":"https://seekingalpha.com/article/4437140-sunrun-stock-forecast-outlook-is-improving","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169729983","content_text":"Summary\n\nSunrun reported better-than-expected revenue for the first quarter, and the financial performance is continuing to improve.\nWith the global investment landscape changing dramatically, Sunrun is well-positioned to emerge as a big winner.\nThe company struck a deal with Ford recently and is aggressively positioning itself to benefit from the exponential growth of the electric vehicle industry.\n\nAleksandarGeorgiev/E+ via Getty Images\nSunrun Inc. (RUN) is an American company that specializes in the design, development, and maintenance of residential solar panels, battery storage units, and other energy services designs. Solar panels are installed, monitored, and maintained on the rooftops of homeowners to provide solar electricity, and the company has emerged as a leading player in this industry in the United States. Sunrun sells its products to homeowners through retail, in-home sales, canvassing, partner networks, and online. The energy service solutions are provided through its lease and power purchase agreements. The company was founded in 2007 with the goal of making renewable energy more accessible to everyone.\nSunrun stock surged 15% on June 16 after Morgan Stanley (MS)raisedits price target for Sunrun from $86 to $91 per share. According to analyst Stephen Byrd, Sunrun has the potential to become a major player in the electric vehicle industry as solar power solutions can be used to charge electric vehicles. The outlook for the company is promising, and the lackluster market performance this year (the stock is down 18% YTD) makes Sunrun a good bet for contrarian investors looking for high risk-high reward opportunities.\nFirst-quarter earnings recap\nSunrun released first-quarter earnings on May 5 that topped revenue estimates but missed the earnings estimates of Wall Street analysts. The companyreporteda loss of 12 cents per share whereas analysts were expecting a loss of just 4 cents per share. The total revenue was $334.8 million, up 59% year-over-year with customer agreements and incentives generating $174.6 million and solar energy systems and product sales generating $160.2 million of revenue. Sunrun added 23,556 new customers in the first quarter of 2021, which lifted the total customer base to over 573,000. The annual recurring revenue from subscribers now stands at $683 million with an average remaining contract life of 17 years.\nCommenting on the company's first-quarter performance, CEO Lynn Jurichsaid:\n\nThis year is on track to be the best in the company's history. With an accelerating growth rate and expanding market reach, Sunrun is leading the country to a clean energy future. Now is the time for us to move to a distributed energy system to meet the increased demands placed on our energy system from broad-based adoption of electric vehicles and improve the resiliency of our aging energy system.\n\nThe company is benefiting from favorable macroeconomic conditions, and the continued increase in the number of customers is a testament to how Sunrun is converting the favorable industry outlook into good numbers.\nSunrun is pursuing sustainable goals\nIn the first quarter, Sunrun took various impactful steps including the launch of Sunrun Academy to expand work opportunities and promote career growth. The company was also chosen as the first national solar company to participate in the Department of Defense's SkillBridge Programme and became the first solar company to be approved for the Military Spouse Employment Program which provides employment opportunities for military spouses.\nSunrun's fourth annualImpact Reportpublished in April highlights its sustainability goals including offsetting more than 600 million metric tons of carbon emissions from the company's systems. In addition, the company aims to reach net-zero carbon emissions from its operations by 2040, convert one-third of its vehicle fleet to electric or hybrid within 5 years, and deliver at least 500 megawatts of solar power to low-income households across the country by 2030. Sunrun has also highlighted its commitment to creating a diverse and inclusive workforce with women accounting for 50% of the top management team and 44% of the Board of Directors as of December 31, 2020.\nThe investment landscape is changing dramatically as investors are increasingly getting behind companies that are promoting sustainable development goals, which is a secular trend that is expected to be a major factor that determines investments returns in the coming decades. Going by Sunrun's formidable policies discussed above, it would be reasonable to assume that the company will attract high valuation multiples in the future once the plans set in motion deliver the expected goods.\nSunrun is expanding its horizons\nSunrun and Ford Motor Company (F) entered into anagreementon May 19 to provide a seamless installation of 80-amp Ford Charge Station Pro and Home Charging Systems for the all-electric Ford F-150 Lightning truck. The F-150 Lightning, an electric version of Ford's most famous pickup truck, can serve as a backup domestic power source during a power outage as well, providing low-carbon electricity to households. Under this partnership, customers are also offered the opportunity to install a household solar and battery system allowing them to power their homes with clean, affordable energy and charge their F-150 Lightning at the same time. Ryan O'Gorman, Ford's head of energy services, said that the automaker is the first in the United States to offer this additional power supply opportunity for buyers of vehicles.\nCommenting on this partnership, Sunrun CEO Lynn Jurich said:\n\nFord is a trusted brand that's been at the forefront of American innovation for over 100 years, and it is exciting to see them electrifying their most popular truck in company history. We're at the beginning stages of a partnership that can bring energy resilience to millions of Americans across the country.\n\nThis partnership could open up new doors for Sunrun in the future as many other electric vehicle manufacturers could look to embrace this strategy to compete with Ford.\nIndustry outlook\nThe electric vehicle market has grown at stellar rates over the last 5 years and President Biden's announcement of EV adoption in federal fleets is boosting the electric ecosystem even further. Electric car registrations grew by 41% in 2020 according to the International Energy Agency, despite a 16% decline in automobile sales caused by the virus-induced recession. Global EV sales increased by 140% in the first quarter of 2021, aided by the sale of around 500,000 vehicles in China and 450,000 in Europe.\nExhibit 1: Global electric vehicle stock by region, 2010-2020\nSource:IEA\nThe majority of Original Equipment Manufacturers in the world are speeding up the transition to electric mobility by upgrading fleets and establishing charging stations. In 2020, consumer spending on electric vehicles reached $120 billion and governments around the world spent $14 billion to promote electric vehicle sales.\nExhibit 2: Consumer and government spending on EVs\nSource: IEA\nCommenting on Sunrun's market position in this segment, CEO Lynn said:\n\nWe are actively exploring ways to help consumers in the grid manage the transition to electric vehicles. We know the country must make the switch to EVs to further reduce carbon emissions and we believe Sunrun will be a key enabler of this transition. Homes with EVs consume approximately double the amount of electricity. Home solar and batteries are needed to meet this increased strain on the electric system. And Sunrun is well-positioned to be a leading provider of these services given our expertise managing and installing at-home energy infrastructure and our national footprint. Electric vehicles create positive flywheel defects. Homes need larger solar systems to support the increased electricity consumption. These larger systems come at a high incremental margin since the cost to increase the size is relatively low. And EVs can be integrated into a comprehensive home energy management system to maximize the economic benefits and resiliency for families. These compounding benefits will accelerate the transition to a distributed grid with home solar, batteries, and EVs even faster than most realized.\n\nSunrun still has a long way to go to develop competitive advantages that could help it earn economic profits in the long run, but the company seems to be moving in the right direction by positioning itself to benefit from the transition to electric vehicles.\nTakeaway\nSunrun is America's leading household solar power company. With competent management and a long-term growth strategy, the company has achieved substantial growth in the last few years. The company has contributed toward environmental protection goals by removing 8.1 million metric tons of carbon pollution since 2007, which goes on to show that investor enthusiasm toward Sunrun is indeed based on good numbers. Although Sunrun faces stiff competition from other renewable energy providers, strategic alliances are likely to help the company deliver good numbers in the coming years. Sunrun is not yet profitable, but the industry outlook suggests that it has a long runway for growth, and we expect Sunrun to post consistently growing profits in the next 5 years. If customers and the government continue to shift to and encourage the use of renewable energy, which is the most likely scenario, Sunrun will be in a good position to report exponential growth in revenue and earnings.","news_type":1,"symbols_score_info":{"RUN":0.9}},"isVote":1,"tweetType":1,"viewCount":2824,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":20,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/153476554"}
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