Spruce Power (NYSE:SPRU) Posts Quarterly Earnings Results

Spruce Power (NYSE:SPRU) posted its quarterly earnings data on Wednesday. The company reported ($0.16) earnings per share for the quarter, Zacks reports. Spruce Power had a negative net margin of 23.28% and a negative return on equity of 20.49%.

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 Price Performance

Shares of NYSE:SPRU opened at $3.40 on Thursday. The stock has a market cap of $61.85 million, a PE ratio of -2.36 and a beta of 1.22. The company’s fifty day moving average is $3.88 and its 200 day moving average is $4.44. Spruce Power has a 52 week low of $1.13 and a 52 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.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Spruce Power in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Spruce Power

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in Spruce Power in the 4th quarter worth $53,000. Virtu Financial LLC purchased a new position in shares of Spruce Power in the third quarter valued at about $31,000. XTX Topco Ltd purchased a new position in shares of Spruce Power in the second quarter valued at about $32,000. Goldman Sachs Group Inc. increased its position in shares of Spruce Power by 37.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,072 shares of the company’s stock valued at $92,000 after acquiring an additional 4,963 shares during the period. Finally, HRT Financial LP purchased a new position in shares of Spruce Power in the fourth quarter valued at about $96,000. Hedge funds and other institutional investors 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.