Citi Double Downgrades Sunlight Financial Holdings (SUNL) to Sell

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Go back to Citi Double Downgrades Sunlight Financial Holdings (SUNL) to Sell

Sunlight Financial Announces Impact to Full-Year 2022 Outlook

September 28, 2022 4:30 PM EDT

NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)-- Sunlight Financial Holdings Inc. (Sunlight Financial, "Sunlight" or the Company) (NYSE: SUNL), a premier, technology-enabled point-of-sale financing company, today announced that an installer liquidity event and volatile interest rates will impact its full-year 2022 financial performance. As a result, the Company is withdrawing its previously-provided full-year 2022 outlook metrics.

One of Sunlight's largest solar installers has notified the Company that due to cash flow challenges, the installer is in the process of winding down its operations, likely restricting its ability to fully meet its financial obligations. As a... More