Spruce Power (NYSE:SPRU – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.16) earnings per share (EPS) for the quarter, Zacks reports. Spruce Power had a negative return on equity of 20.49% and a negative net margin of 23.28%.
Here are the key takeaways from Spruce Power’s conference call:
- Spruce Power reported Q1 2026 revenue of $23.4 million, roughly flat year over year, while Operating EBITDA rose 49% to $18.4 million and net loss narrowed sharply to $2.9 million.
- The company said its Project Streamline initiative is driving major cost savings, with O&M down 70% and SG&A down 21% versus last year, and management believes much of the improvement is structural.
- Revenue was affected by weather-related impacts in the Northeast, lower non-cash amortization revenue, and some customer buyouts, partially offset by higher SREC and incentive revenue.
- The quarter included a going concern disclosure tied to the SP1 Facility’s maturity classification, although the company emphasized it had already extended the facility and is pursuing refinancing options.
- Spruce ended the quarter with $85.6 million in cash and restricted cash and repaid $8.2 million of debt principal, while management expects full-year 2026 Operating EBITDA to remain in line with budget.
Spruce Power Stock Performance
SPRU traded up $0.29 during trading on Wednesday, reaching $3.40. 62,272 shares of the company’s stock were exchanged, compared to its average volume of 54,672. Spruce Power has a fifty-two week low of $1.13 and a fifty-two week high of $6.75. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 3.82. The business has a 50 day moving average price of $3.88 and a 200 day moving average price of $4.44. The company has a market capitalization of $61.85 million, a P/E ratio of -2.36 and a beta of 1.22.
Analysts Set New Price Targets
View Our Latest Stock Report on Spruce Power
Institutional Investors Weigh In On Spruce Power
A number of institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Spruce Power during the fourth quarter worth $137,000. Marshall Wace LLP acquired a new stake in Spruce Power during the fourth quarter worth $450,000. Steel Partners Holdings L.P. acquired a new stake in Spruce Power during the fourth quarter worth $16,275,000. Headlands Technologies LLC acquired a new stake in Spruce Power during the fourth quarter worth $53,000. Finally, State Street Corp boosted its stake in Spruce Power by 103.1% during the fourth quarter. State Street Corp now owns 89,439 shares of the company’s stock worth $455,000 after buying an additional 45,400 shares in the last quarter. Institutional investors and hedge funds own 20.76% of the company’s stock.
Spruce Power Company Profile
Spruce Power is a renewable energy company that specializes in the ownership, operation and management of distributed solar energy assets. The company partners with solar developers to acquire residential and small-commercial solar portfolios, providing long-term performance monitoring, maintenance and customer support for system owners. By focusing on turnkey asset management, Spruce Power enables homeowners and businesses to benefit from solar power without the upfront risks and responsibilities of system ownership.
Headquartered in San Francisco, California, Spruce Power was founded in 2009 and has grown through strategic acquisitions and partnerships.
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