Spruce Power Holding Corp

Spruce Power Holding Corp. engages in the ownership and operation of distributed solar energy assets. The firm provides subscription-based services for homeowners and small businesses to own and maintain rooftop solar and battery storage. It offers products relating to battery solutions, system expansion, extended service agreement, and fleet management. The company was founded by Thomas J. Hynes, III in 2009 and is headquartered in Denver, CO.

Earnings data Q4 2020

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Earnings data Q3 2024

Spruce Power Holding Corp reports robust Q1 performance and growth strategies

Spruce Power Holding Corp's Q1 2024 earnings call highlighted strong financial performance, strategic initiatives, and a focus on long-term growth, positioning the company for sustained success and value creation.
The emphasis on financial stability, operational efficiency, and disciplined capital allocation underscores Spruce's commitment to maximizing shareholder value and capitalizing on market opportunities.
Addressing challenges such as market uncertainties and competitive pressures while leveraging opportunities for expansion through strategic acquisitions and organic growth initiatives will be key to driving future growth and profitability.

Spruce Power Holding Corp reports steady Q2 performance and growth outlook

Spruce Power Holding Corp (SPRU) demonstrated steady financial performance in Q2 2024, with a focus on strategic growth initiatives and prudent capital management.
While facing challenges in meeting financial guidance, the company remains optimistic about future opportunities in the renewable energy market.
By emphasizing disciplined growth strategies and maintaining financial stability, Spruce is poised to navigate challenges and capitalize on opportunities for sustainable expansion.

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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 announced the relocation of its Denver headquarters to the Colorado Center, a premier location in southeast Denver. Spruce's new Denver headquarters expands the Company's footprint in a key renewable energy market, allowing access to a dynamic ecosystem of collaboration, partnerships, and top industry.

Spruce Power Announces Relocation of Corporate Headquarters in Denver, Colorado

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 announced the acquisition of a portfolio of over 2,400 residential solar systems and contracts from a publicly traded, regulated utility company for $20.9 million. The acquisition closed on August 18, 2023. The acquired portfolio consists of residential solar systems located in California, New Jersey,.

Spruce Power Acquires Portfolio of 2,400 Residential Solar Systems and Contracts

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, announced today a disaster relief initiative in the aftermath of the devastating fires that have swept through the Maui community. Spruce stands with its customers and will waive its billing for all customers within the impacted communities for the next 3 months. This relief is intended to provide immediate.

Spruce Power Announces Relief Plan for Maui Customers

Spruce Power Holding Corporation (NYSE:SPRU ) Q2 2023 Earnings Conference Call August 10, 2023 4:30 PM ET Company Participants Bronson Fleig - Head, Investor Relations Christian Fong - Chief Executive Officer Sarah Wells - Chief Financial Officer Conference Call Participants Hilary Cauley - Guggenheim Operator Good afternoon, and welcome to the Spruce Power's Second Quarter 2023 Conference Call. As a reminder, today's call is being recorded.

Spruce Power Holding Corporation (SPRU) Q2 2023 Earnings Call Transcript

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 quarter ended June 30, 2023. Business Highlights Reported 2Q revenue of $22.8 million, net income attributable to stockholders of $3.1 million, and adjusted EBITDA, together with proceeds from investment in lease agreement, of $13.8 million. Fully integrated the recen.

Spruce Power Announces Record Net Income in Second Quarter 2023 Earnings Results

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 announced that it will report second quarter 2023 financial results after the stock market close on Thursday, August 10. The Company will issue a press release reporting its results, which will be available on the Investor Relations section of its website at https://investors.sprucepower.com/overview/d.

Spruce Power to Release Second Quarter 2023 Results and Host Conference Call on August 10

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 quarter ended March 31, 2023. Business Highlights Added cash flows from 22,500 residential solar customer contracts through the Spruce Power 4 Portfolio acquisition, bringing total home solar assets and contracts to over 72,000 Announced a new common share repurchase.

Spruce Power Reports First Quarter 2023 Results

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, announced that Sarah Wells has been appointed Chief Financial Officer, effective May 19th. Mrs. Wells succeeds Don Klein, who is departing in connection with the previously announced transition from XL Fleet to Spruce Power executive management. Sarah Wells brings considerable industry experience and experti.

Spruce Power Appoints Sarah Wells as New Chief Financial Officer

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 announced its participation in the following upcoming investor conferences: Credit Suisse 2023 Renewable and Utilities Conference – May 17, 2023, New York, NY TD Cowen Sustainability Week – June 8, 2023, Virtual Christian Fong, Spruce's Chief Executive Officer, and other members of the management team.

Spruce Power to Participate in Upcoming Investor Conferences

Spruce Power is down 30% since the start of the year as the market looks away from the home solar story unfolding. The company recently closed on the acquisition of a new portfolio of solar customer contracts that should boost its home solar assets by around 44% to around 72,000 systems.

Spruce Power: Down 30% YTD As The Market Cools On Home Solar

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 announced that it will report first quarter 2023 financial results after the stock market close on Monday, May 15. The Company will issue a press release reporting its results, which will be available on the Investor Relations section of its website at https://investors.sprucepower.com/overview/default.

Spruce Power to Release First Quarter 2023 Results and Host Conference Call on May 15

DENVER--(BUSINESS WIRE)--Spruce Power Holding Corp.

Spruce Power Receives Notice Regarding NYSE Continued Listing Standard

Spruce Power Holding Corporation (NYSE:SPRU ) Q4 2022 Earnings Conference Call March 23, 2023 4:30 PM ET Company Participants Bronson Fleig – Head-Investor Relations Christian Fong – Chief Executive Officer Donald Klein – Chief Financial Officer Conference Call Participants Joseph Osha – Guggenheim Jordan Levy – Truist Operator Good afternoon. My name is Emma, and I will be your conference operator today.

Spruce Power Holding Corporation (SPRU) Q4 2022 Earnings Call Transcript

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 quarter and full year ended December 31, 2022.

Spruce Power Reports Fourth Quarter and Full Year 2022 Results

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 announced the acquisition of SS Holdings 2017, LLC and its subsidiaries (the “Spruce Power 4 Portfolio”) from a US-based private equity firm. The acquisition closed on March 23, 2023.

Spruce Power Buys Portfolio of 22,500 Solar Customer Contracts in its Largest-Ever Acquisition and First as a Public Company

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, is proactively monitoring the events and possible derivatives of Silicon Valley Bank's (“SVB”) transition into receivership by the Federal Deposit Insurance Corporation.

Spruce Power Offers the Following Statement Regarding the Events Surrounding Silicon Valley Bank

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 announced that it will report fourth quarter and full year 2022 financial results after the stock market close on Thursday, March 23. The Company will issue a press release reporting its results, which will be available on the Investor Relations section of its website at https://investors.sprucepower.

Spruce Power to Release Fourth Quarter 2022 Results and Host Conference Call on March 23

DENVER--( BUSINESS WIRE )--Spruce Power (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced that the New York Stock Exchange (the “NYSE”) notified the Company that it has regained compliance with the NYSE's continued listing standard for minimum share price.

Spruce Power Regains Compliance with NYSE Minimum Price Requirement

NEW YORK--( BUSINESS WIRE )--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Spruce Power Holding Corp. (NYSE: SPRU) f/k/a XL Fleet Corp. on behalf of long-term stockholders following a class action complaint that was filed against Spruce on March 8, 2021 with a Class Period from September 2, 2020 to March 2, 2021. Our investigation concerns whether the board of directors of Spruce have breached their fiduciary duties to the company.

SPRUCE ALERT: Bragar Eagel & Squire, P.C. is Investigating Spruce Power Holding Corp on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Wilmington, Delaware--(Newsfile Corp. - January 26, 2023) - Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Spruce Power Holding Corporation (NYSE: SPRU), formerly known as XL Fleet Corp., on behalf of stockholders.To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-spruce-power-holding-corporation.To contact Seth D. Rigrodsky or Gina M. Serra cost free, call or text (302) 295-5310 or email info@rl-legal.com.Rigrodsky Law, P.A.

SHAREHOLDER ALERT: Rigrodsky Law, P.A. Is Investigating Spruce Power Holding Corporation

Spruce Power, a residential solar company, is replacing the legacy retrofitting business which was beset by poor unit economics. The move represents a hard pivot by management and will see shareholders gain exposure to the fast-growing market for home solar systems.

Spruce Power: Meet The New XL Fleet

DENVER--( BUSINESS WIRE )--Spruce Power (NYSE: SPRU) (“Spruce” or the “Company”; formerly known as XL Fleet), a leading owner and operator of distributed solar energy assets across the United States, today announced the anticipated timing of its previously indicated leadership transition.

Spruce Power Appoints Christian Fong as CEO Effective February 1

WIXOM, Mich.--( BUSINESS WIRE )--Spruce Power (NYSE: SPRU) (“Spruce” or the “Company”; formerly known as XL Fleet), a leading owner and operator of distributed solar energy assets across the United States, today announced that Debora Frodl will be retiring, and Sarah Sclarsic will be stepping down, from the Company's board of directors (the “Board”) effective December 31, 2022. Ms. Frodl is retiring after serving as a Company director since May 2018, and as Chair since December 2020. She has also served as chair of the Nomination and Governance Committee and as a member of the Audit Committee. Ms. Sclarsic, who has served on the board since December 2020 as a member of the Audit Committee, is departing to pursue opportunities through a climate technology venture capital firm that she co-founded in 2021.

Spruce Power Announces Changes to its Board of Directors

WIXOM, Mich.--( BUSINESS WIRE )--Spruce Power (NYSE: SPRU) (“Spruce” or the “Company”; formerly known as XL Fleet), a leading owner and operator of distributed solar energy assets across the United States, today announced completion of its strategic transformation to a pure play clean energy solutions business:

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