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

Spruce Power Holding

11/11/2025 21:16

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.)