Overview

* Spruce Power Holding ( SPRU ) Q2 revenue rises 48% yr/yr to $33.2 mln

* Operating EBITDA surges 71% to $24.6 mln, driven by acquisitions and cost cuts

* Net loss improves to $3.0 mln from $8.6 mln yr/yr

Outlook

* Spruce Power ( SPRU ) expects minimal impact from H.R. 1 tax reconciliation bill passed in July

* Company sees rising utility rates supporting solar development

* Company highlights significant market potential despite policy changes

Result Drivers

* ACQUISITION IMPACT - Revenue growth driven by acquisition of NJR Clean Energy Ventures' residential solar portfolio

* SRECS REVENUE - Improved solar renewable energy credits revenue contributed to increased revenue

* O&M EFFICIENCIES - Decline in operations and maintenance expenses due to efficiencies and completion of meter upgrades

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $33.24

Revenue mln

Q2 Net -$2.87

Income mln

Q2 $8.90

Income mln

From

Operatio

ns

Q2 Net -$2.85

Income mln

continui

ng

operatio

ns

Q2 $24.34

Operatin mln

g

Expenses

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)