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Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
Sunrun
Sunrun (RUN) investor relations material
Sunrun Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary6 May, 2026
Executive summary
Achieved aggregate subscriber value of $1.1 billion in Q1 2026, with contracted net value creation of $108 million and a record 73% storage attachment rate, reflecting a storage-first strategy and strong demand for distributed power solutions.
Net income attributable to common stockholders was $167.6 million, or $0.71 per basic share, up from $50.0 million in Q1 2025.
Added 17,665–19,000 subscribers in Q1 2026, with total customers reaching 1,184,634 and an 11% year-over-year increase, though quarterly additions declined 25%.
Cash generation was negative $59 million, impacted by project finance timing and safe harbor investments.
Strategic focus on direct business, vertical integration, and capital-light recurring cash flows positions the company for sustainable growth.
Financial highlights
Total revenue was $722.2 million, up 43% year-over-year, driven by a 151% increase in energy systems and product sales revenue.
Aggregate Subscriber Value for Q1 was $1.1 billion, above guidance but down 13% year-over-year.
Contracted Net Value Creation was $108 million, a 34% decrease year-over-year but near the high end of guidance.
Upfront Net Subscriber Value per addition was $11,892, with a 9% margin, up 8 percentage points year-over-year.
Ended Q1 with $680 million in unrestricted cash and $626 million in recourse debt, with $92 million in recourse debt repaid during the quarter.
Outlook and guidance
Full-year 2026 guidance: $4.8–$5.2 billion Aggregate Subscriber Value, $650–$1,050 million Contracted Net Value Creation, and $250–$450 million Cash Generation, excluding $50–$100 million for safe harbor investments.
Q2 2026 Aggregate Subscriber Value expected at $1.1–$1.2 billion, and Contracted Net Value Creation at $100–$200 million.
Direct business expected to grow high-single to low-double digits in 2026, offsetting industry-wide volume declines.
Guidance assumes continued capital market access and stable or improving ITC pricing.
Borrowing base feature for future ITC proceeds
Retained cash flows in the new JV structure
Basis for the 6.3% discount rate assumption
Drivers for reducing affiliate partner volumes
Impact of tax equity market pauses on funding
Strategy for monetizing grid service resources
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Latest events from Sunrun
- Annual meeting to vote on directors, executive pay, and auditor ratification, all board-backed.RUN
Proxy filing16 Apr 2026 - Strong growth, governance reforms, and enhanced pay-for-performance drive 2026 agenda.RUNProxy filing15 Apr 2026
- Record 2025 cash generation and profitability set up for strong, margin-focused 2026.RUNQ4 20258 Apr 2026
- Record cash generation and distributed power plant growth drive strong financial and operational results.RUNInvestor presentation16 Mar 2026
- Q1 2025 saw 23% Subscriber Value growth, 104% Net Value Creation rise, and record storage adoption.RUNQ1 202512 Feb 2026
- Director nominees elected, executive compensation not approved, auditor ratified.RUNAGM 20243 Feb 2026
- Q2 cash generation hit $217M as storage installations soared 152% year-over-year.RUNQ2 20242 Feb 2026
- Record storage growth and positive cash generation achieved despite revenue decline and headwinds.RUNQ3 202415 Jan 2026
- Record customer growth, rising margins, and strong cash generation drive continued leadership.RUNInvestor Presentation15 Dec 2025
Next Sunrun earnings date
AGM 202628 May, 2026
Sunrun
Next Sunrun earnings date
AGM 202628 May, 2026
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Eferix Drawings Google Play
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@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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