Spruce Power Reports Fourth Quarter and Full-Year 2023 Results
Spruce Power Holding Corporation Class A (SPRU)
Company Research
Source: Business Wire
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today reported financial results for the fourth quarter and year ended December 31, 2023.Business HighlightsAdded approximately 25,000 customer contracts in 2023, for nearly 50% year-on-year growth, to reach over 75,000 home solar assets and contracts.Launched 'Spruce Pro' brand, expanding Spruce Power's best-in-class residential servicing technology platform to the fast-growing commercial solar market.Total cash of $173 million at year end. Subtracting $17 million of net total cash costs and reserves tied to legacy XL Fleet items results in pro-forma cash of $156 million.Initiated 2024 Operating EBITDA guidance between $68 - $86 million and 2024 Adjusted Free Cash Flow guidance between $0 - $5 million.Management Commentary and Outlook"Spruce's strategy is to be the dominant owner and operator
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SPRU
News
- Spruce Power to Release First Quarter 2024 Results and Host Conference Call on May 15Business Wire
- Spruce Power CEO Chris Hayes to Participate in a Water Tower Research Fireside Chat on Friday, April 26 at 11:00 AM ETBusiness Wire
- Spruce Power Adds Industry Veteran to Lead Asset Operations [Yahoo! Finance]Yahoo! Finance
- Spruce Power Adds Industry Veteran to Lead Asset OperationsBusiness Wire
- Spruce Power Holding Corporation Announces Leadership ChangesBusiness Wire
SPRU
Sec Filings
- 4/29/24 - Form 10-K/A
- 4/26/24 - Form PX14A6G
- 4/25/24 - Form 8-K/A
- SPRU's page on the SEC website