Overview
Spruce Power Q3 revenue rises 44% yr/yr, driven by acquisitions and service agreements
Net loss for Q3 narrows significantly compared to the previous year
Operating EBITDA for Q3 increases 48% yr/yr, reflecting cost management
Outlook
Spruce plans to decrease SG&A costs through workforce reduction and office closure
Company engaged in discussions with financial institutions regarding 2026 debt obligations
Result Drivers
REVENUE GROWTH - Revenue increased 44% yr/yr, driven by NJR acquisition and improved SRECs revenue
COST REDUCTIONS - O&M expenses down 53% yr/yr due to meter upgrades and cost management
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $30.73 mln | ||
Q3 EPS | -$0.05 | ||
Q3 Net Income | -$714,000 | ||
Q3 Income From Operations | $8.48 mln | ||
Q3 Net Income continuing operations | -$677,000 | ||
Q3 Operating Expenses | $22.24 mln |
Press Release: ID:nBw3mmyB9a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)