Spruce Power (NYSE:SPRU) Posts Earnings Results

by · The Cerbat Gem

Spruce Power (NYSE:SPRU – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.16) earnings per share 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 Trading Up 9.5%

Shares of SPRU stock traded up $0.29 on Wednesday, reaching $3.40. 62,272 shares of the stock were exchanged, compared to its average volume of 62,134. The stock has a market cap of $61.85 million, a P/E ratio of -2.36 and a beta of 1.22. 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 firm has a 50 day moving average of $3.89 and a two-hundred day moving average of $4.44. Spruce Power has a 1-year low of $1.13 and a 1-year high of $6.75.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Spruce Power in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Read Our Latest Report on SPRU

Institutional Trading of Spruce Power

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Spruce Power by 37.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,072 shares of the company’s stock valued at $92,000 after purchasing an additional 4,963 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Spruce Power in the 4th quarter valued at $53,000. Virtu Financial LLC acquired a new stake in Spruce Power in the 3rd quarter valued at $31,000. XTX Topco Ltd acquired a new stake in Spruce Power in the 2nd quarter valued at $32,000. Finally, HRT Financial LP acquired a new stake in Spruce Power in the 4th quarter valued at $96,000. 20.76% of the stock is currently owned by institutional investors and hedge funds.

Spruce Power Company Profile

(Get Free Report)

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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