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Spruce Power Holding (SPRU)
NYSE:SPRU
Earnings Data
Report Date
May 19, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.13Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 31, 2025
|% Change Since: -19.50%
|Next Earnings Date:May 19, 2025
Earnings Call Sentiment|Neutral
Spruce Power showcased significant portfolio growth and operational improvements in 2024, including a key acquisition and the launch of a third-party servicing channel. Despite these achievements, the company faced financial challenges, including missing EBITDA targets and declining unrestricted cash, leading to a cautious outlook without financial guidance for 2025.Company Guidance
During the Spruce Power Fourth Quarter 2024 Earnings Conference Call, Chris Hayes, CEO, emphasized the company's strategic focus on stability and efficiency in the residential solar market. Spruce Power operates with a fundamentally different business model compared to its peers, relying on existing solar assets to generate stable long-term cash flows. The company expanded its portfolio to approximately 85,000 home solar assets, following the acquisition of 9,800 systems from NJR Clean Energy Ventures, increasing its gross portfolio value to $910 million. Operational improvements, such as reconnecting 4,800 systems and enhancing asset management, boosted customer satisfaction scores from 74% in 2023 to 83% in 2024. Despite a GAAP net loss of $5.9 million, the fourth quarter revenue increased to $20.2 million, contributing to an annual revenue of $82.1 million. Spruce Power's financial goals for 2025 include optimizing cash flow and managing operating expenses, with a focus on reducing operations and maintenance costs, which amounted to $5.3 million in the fourth quarter. The company ended the year with unrestricted cash of $72.8 million and a total principal balance of long-term debt at $730.6 million, hedged with interest rate swaps.Portfolio Growth and Acquisition
Spruce Power increased its portfolio to approximately 85,000 home solar assets and customer contracts across 18 states, including the acquisition of a residential solar portfolio from NJR Clean Energy Ventures, adding 9,800 systems and expanding presence in New Jersey.
Operational Efficiency Improvements
Spruce reconnected 4,800 systems, reduced ticket cycle times, cleared 10,000 backlog service tickets, and improved customer satisfaction scores to 83% in 2024, up from 74% in 2023.
Launch of Third-Party Servicing Channel
Spruce successfully launched Spruce Pro, a third-party solar servicing platform, gaining a significant servicing agreement with ADT Solar covering approximately 60,000 systems.
Financial Stability and Cash Flow
Spruce Power continues to generate stable, predictable cash flows due to its unique business model focused on existing solar assets, with a total cash balance of approximately $109.1 million at the end of the fourth quarter.
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SPRU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SPRU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 31, 2025 | $2.41 | $2.12 | -12.03% |
| Nov 13, 2024 | $2.49 | $2.29 | -8.03% |
| Aug 14, 2024 | $3.34 | $3.07 | -8.08% |
| May 15, 2024 | $3.79 | $3.82 | +0.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Spruce Power Holding (SPRU) report earnings?
Spruce Power Holding (SPRU) is schdueled to report earning on May 19, 2025, TBA Not Confirmed.
What is Spruce Power Holding (SPRU) earnings time?
Spruce Power Holding (SPRU) earnings time is at May 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SPRU EPS forecast?
Currently, no data Available
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