Sunrun, Inc. (NASDAQ:RUN) Q3 2022 Earnings Conference Call November 2, 2022 4:30 PM ET

Company Participants

Patrick Jobin - SVP, Finance & IR

Mary Powell - CEO & Director

Danny Abajian - CFO

Edward Fenster - Co-Founder & Executive Co-Chair, Board

Conference Call Participants

Brian Lee - Goldman Sachs

Julien Dumoulin-Smith - Bank of America Merrill Lynch

Andrew Percoco - Morgan Stanley

Colin Rusch - Oppenheimer

Sophie Karp - KeyBanc Capital Markets

David Peters - Wolfe Research

Maheep Mandloi - Crédit Suisse

Philip Shen - ROTH Capital Partners

Joseph Osha - Guggenheim Securities

Kasope Harrison - Piper Sandler & Co.

James West - Evercore ISI

Mark Strouse - JPMorgan Chase & Co.

Operator

Greetings, and welcome to the Sunrun 3Q 2022 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Patrick Jobin, Senior Vice President, Finance and Investor Relations. Please go ahead.

Patrick Jobin

Thank you, operator. Before we begin, please note that certain remarks we will make on this conference call constitute forward-looking statements. Although we believe these statements reflect our best judgment based on factors currently known to us, actual results may differ materially and adversely. Please refer to the company's filings with the SEC for a more inclusive discussion of risks and other factors that may cause our actual results to differ from projections made in any forward-looking statements.

Please also note, these statements are being made as of today, and we disclaim any obligation to update or revise them. On the call today are Mary Powell, Sunrun's CEO; and Danny Abajian, Sunrun's CFO. Ed Fenster, Sunrun's Co-Founder and Co-Executive Chair is also on the call today and will be participating in the Q&A session that follows prepared remarks. And now let me turn it over to Mary.

Mary Powell

Thank you, Patrick. Wow, what a quarter it has been. I've been looking forward to this call to update you all on what this team has accomplished. We have more than delivered what we said we would, significantly exceeding our guidance on net subscriber value, eating the midpoint of our volume guidance despite disruptions from hurricanes and achieving a scale of over $5 billion in net earning assets.

Sunrun is now serving 760,000 customers, plus nearly 10,000 households in our multifamily housing projects, which are poised to expand significantly under the Inflation Reduction Act, providing incredible socioeconomic and clean energy benefits. All of this while continuing to lead on innovation. For instance, just yesterday, we announced our latest partnership on leveraging our clean energy assets to build a more sustainable and resilient solution for Puerto Rico.