SUNL - Why Sunlight Financial Crashed Today
Point-of-sale solar financing company Sunlight Financial Holdings (NYSE: SUNL) saw shares plummet more than 30% as of 12:05 p.m. ET today after reporting earnings results for the second quarter of the year.
Sunlight reported earnings per share of $0.05 on total revenue of $31.6 million. Earnings were in line with analyst estimates, while revenue missed expectations.
"I'm proud of Sunlight's strong performance in the second quarter. Despite continued industry challenges with supply chain and labor constraints, we exceeded quarterly records for funded volume, number of borrowers served, and average solar loan balances due to strong demand for Sunlight's products," Sunlight's CEO Matt Potere said in an earnings statement.
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Why Sunlight Financial Crashed Today