Solar services firm Spruce Power Q3 revenue jumps, helped by NJR acquisition

Reuters11-12

Solar services firm Spruce Power Q3 revenue jumps, helped by NJR acquisition

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. 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