Spruce Power Maintains Its Guidance For 2024 Operating EBITDA In The Range Of $68M-$86M And 2024 Adjusted Free Cash Flow In The Range Of $0-$5M, With Current Expectations Trending To The Lower End Of The Ranges
Portfolio Pulse from Benzinga Newsdesk
Spruce Power maintains its 2024 guidance for Operating EBITDA in the range of $68M-$86M and Adjusted Free Cash Flow in the range of $0-$5M, with expectations trending to the lower end. The company faced higher operating expenses due to unforeseen CEO transition costs, increased legal expenses from a proxy contest, and non-routine operations and maintenance expenditures.
August 14, 2024 | 8:07 pm
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Spruce Power maintains its 2024 guidance for Operating EBITDA and Adjusted Free Cash Flow, but expects to hit the lower end of the ranges due to higher operating expenses from CEO transition costs, legal expenses, and non-routine maintenance.
Spruce Power's guidance indicates that while they are maintaining their targets, the expectation to hit the lower end due to higher than expected operating expenses could negatively impact investor sentiment in the short term.
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