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Spruce Power Holding Corp - SPRU STOCK NEWS

Welcome to our dedicated page for Spruce Power Holding news (Ticker: SPRU), a resource for investors and traders seeking the latest updates and insights on Spruce Power Holding stock.

Spruce Power Holding Corp (NYSE: SPRU) provides renewable energy solutions through its network of residential solar systems and subscription-based services. This news hub offers investors and industry stakeholders centralized access to official announcements, operational updates, and strategic developments.

Key resources include: Quarterly financial results, solar asset acquisitions, partnership announcements, and service agreement expansions. Track the company's progress in distributed energy management and renewable credit markets through verified press releases.

Users will find updates on electricity sales performance, solar renewable energy credit (SREC) transactions, and system maintenance innovations. The curated collection enables monitoring of SPRU's market position within the competitive clean energy sector.

Bookmark this page for streamlined access to Spruce Power's latest corporate communications. Check regularly for updates on residential solar initiatives and renewable energy industry developments directly affecting SPRU's operations.

News

Spruce Power Holding Corporation Announces Leadership Changes

Rhea-AI Summary
Spruce Power Holding (SPRU) appoints Chris Hayes as President & CEO and welcomes Dr. Audrey Lee to the Board of Directors. Hayes to lead the company's growth initiatives leveraging technology and existing solar assets.
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-7.46%
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Spruce Power Reports Fourth Quarter and Full-Year 2023 Results

Rhea-AI Summary
Spruce Power Holding Corporation (SPRU) reported strong financial results for Q4 and full year 2023, highlighting significant growth in customer contracts and cash liquidity. The company added 25,000 customer contracts in 2023, reaching over 75,000 home solar assets. They launched 'Spruce Pro' brand for commercial solar market expansion. Total cash stood at $173 million at year end. Operating EBITDA for Q4 2023 was $9.9 million. The company expects 2024 Operating EBITDA between $68 - $86 million and Adjusted Free Cash Flow between $0 - $5 million. Despite revenue decline due to weather fluctuations, Spruce remains focused on growth and shareholder value maximization.
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1.57%
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Spruce Power to Release Fourth Quarter and Full-Year 2023 Results and Host Conference Call on March 14

Rhea-AI Summary
Spruce Power Holding Corporation (NYSE: SPRU) will report its fourth quarter and full-year 2023 financial results on March 14, 2024. The results will be available on the Investor Relations section of its website. A conference call and webcast will follow to discuss the results.
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4.35%
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News

Spruce Power Launches ‘Spruce Pro’ Brand, Expanding its Servicing Solutions into the Commercial Solar Market

Rhea-AI Summary
Spruce Power Holding Corporation (NYSE: SPRU) announced the launch of Spruce Pro, expanding into the commercial solar market. The new business line offers asset management and commodity trading tools to increase productivity and servicing quality for commercial solar customers. The expansion aligns with the company's commitment to clean energy solutions and underscores its dedication to serving a broader spectrum of photovoltaic asset owners.
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2.44%
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News

Spruce Power Announces Expansion of Operating Headquarters in Houston, Texas

Rhea-AI Summary
Spruce Power Holding Corporation (NYSE: SPRU) expands its Houston headquarters by over 10,000 square feet to support a growing portfolio of home solar assets and contracts. The company plans to expand the Houston team by 20 in 2024. Spruce is a leading owner and operator of distributed solar energy assets across the United States, committed to ensuring an industry-leading customer experience.
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3.17%
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Spruce Power Announces Record Revenue in Third Quarter 2023 Earnings Results

Rhea-AI Summary
SPRU: Spruce Power Holding Corporation Reports Record Third Quarter Revenue of $23.3 Million and Growth of Home Solar Assets by 49% Year-Over-Year. Company's Total Cash Reaches $193 Million with Pro-Forma Cash of $9.14 per Share. Positive Outlook for Business Cash Inflows of $120 to $130 Million Annually. Legal Proceedings Settled with SEC and Shareholder Class Action Lawsuits.
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11.25%
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Spruce Power to Release Third Quarter 2023 Results and Host Conference Call on November 9

Rhea-AI Summary
Spruce Power Holding Corporation to report Q3 2023 financial results
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0.21%
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News

Spruce Power Announces Reverse Stock Split

Rhea-AI Summary
Spruce Power Holding Corporation's stockholders have approved a 1-for-8 reverse stock split, expected to become effective on October 6, 2023. The common stock will begin trading on a split-adjusted basis on October 9, 2023. The reverse split aims to comply with NYSE's listing requirements and attract institutional investors. No fractional shares will be issued, and cash payments will be made instead.
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-2.84%
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Spruce Power Announces Resolution of SEC Inquiry of XL Fleet

Rhea-AI Summary
Spruce Power Holding Corporation settles SEC enforcement action related to 2020 merger of predecessor company, XL Fleet Corp, by paying $11 million civil penalty. Settlement funded from corporate cash of approximately $192 million. Allows Spruce to focus on growing its distributed energy business.
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9.68%
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Spruce Power Announces Relocation of Corporate Headquarters in Denver, Colorado

Rhea-AI Summary
Spruce Power Holding Corporation relocates its Denver headquarters to the Colorado Center, expanding its footprint in the renewable energy market and reaffirming its commitment to job creation in Colorado.
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Spruce Power Holding Corp

NYSE:SPRU

SPRU Rankings

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SPRU Stock Data

37.42M
17.75M
13.65%
21.5%
2.11%
Solar
Electric Services
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United States
DENVER