Spruce Power Reports Third Quarter 2026 Results
Business Wire•12/11/2026•16:05 ET
0
Key Highlights
- ➤Net income $6.0 million versus $0.9 million loss year-over-year
- ➤Operating EBITDA $27.0 million, up 3% year-over-year
- ➤SG&A expenses fell 23% year-over-year amid streamlining efforts
- ➤Cash and restricted cash totaled $87.3 million, or $4.53 per share
- ➤SP1 refinancing term sheet extended facility maturity to January 30, 2027
Expert Statements
Chris Hayes, Chief Executive Officer of Spruce Power
“Our third quarter 2026 results reflect continued cost discipline and steady operational execution. Most importantly, subsequent to quarter end we met the October 30 milestone by executing a non-binding term sheet for the refinancing of SP1, SP2, and SP3. Meeting this important milestone extended the maturity of the SP1 facility to January 30, 2027. During the quarter we continued to see the positive effects of the streamlining efforts we implemented last fall. SG&A expenses were reduced by 23% compared to last year, reflecting both the structural efficiencies we have built into the operating model and the aggressive new programs to implement labor savings across our operational functions through the targeted use of AI. These initiatives enabled us to generate $30.6 million of Adjusted Cash Flow from Operations, a 52% increase from the same period last year. We ended the quarter with $87.3 million of cash and cash equivalents and restricted cash, or $4.53 per share, and reduced the principal amount of our debt by $21.9 million”
Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce”, "Spruce Power" or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today reported financial results for the third quarter ended September 30, 2026.
* Achieved consistent operating income of $8.5 million for the quarter in line with $8.4 million in the third quarter of 2025
Get started
Create a free account to read the full story.