earnings
confidence high
sentiment positive
materiality 0.75
Spruce Power swings to Q2 net income of $3.3M; record Operating EBITDA $26.5M
SPRUCE POWER HOLDING CORP
- Operating income $9.8M vs $8.9M YoY; net income $3.3M vs net loss $3.0M; diluted EPS $0.14 vs -$0.17.
- Revenue $30.3M, down from $33.3M; SG&A down 26%; core operating expenses $13.8M vs $17.4M.
- Record Operating EBITDA $26.5M, up 7% YoY; Adjusted Cash Flow from Operations $4.8M.
- Cash and restricted cash $81.5M ($4.24/share); debt $679.5M at 6.2%; paid down $7.9M debt principal.
- No shares repurchased; $42M left on $50M buyback; portfolio PV6 $802M, ~83k home solar assets.