Texas solar operators surge after exceeding Q3 expectations

Spruce Power and FTC Solar soared during the session on Tuesday

Rowan Dunne

Published

3 hours ago

A pair of American solar operators saw considerable gains during market hours on Tuesday after surpassing expectations with their Q3 results.

Spruce Power Holding Corp (NYSE: SPRU) observed a 55 per cent spike and closed at approximately US$4.80 after trading as high as US$5.60 per share at the intraday peak.

The Houston-based company owns and operates distributed solar energy assets across the United States. It provides subscription-based electricity sales to residential areas and businesses.

Meanwhile, FTC Solar Inc (NASDAQ: FTCI) (FRA: 6YK0) saw gains in excess of 33 per cent and closed at US$9.90. Stock hit US$11.09 at the intraday high. Trading volume skyrocketed to over 5 million shares during the session.

FTC specializes in solar tracker systems, software and engineering solutions for utility-scale solar power operations. Its solar trackers can dramatically increase energy output at solar installations by optimizing solar panel orientation with the sun. The company’s operations span multiple continents.

Their surge this week was primarily attributable to robust revenue growth and profitability during the 3-month period ended Sept. 30.

Spruce Power reported 44 per cent year-over-year revenue growth at US$30.7 million. Furthermore, operating EBITDA shot up by 48 per cent in comparison to Q3 of 2024 at US$26.2 million. The home solar specialist also boosted its cash balance sequentially by US$8.3 million to US$98.8 million during the period. Spruce Power managed to cut its net loss by US$52.7 million year-over-year to only -US$0.05 per share.

Acquisitions, supply deals and strategy pay off

These financial successes were largely driven by Spruce’s acquisition of a residential solar portfolio from NJR Clean Energy Ventures in late 2024. Improved solar renewable energy credits sales and an aggressive cost management strategy implemented by the company were other factors.

“I’m encouraged by the strong level of interest we’ve received and the range of options available to us,” said Spruce CEO Chris Hayes on Nov. 11.

FTC’s Q3 highlights included a 157 per cent year-over-year revenue spike at US$26 million and achieving its first positive gross margin since late 2023. Revenue beat Wall Street expectations by US$6 million or 23 per cent.

Securing US$37 million in financing and winning a 1 gigawatt supply agreement with Levona Renewables for trackers in Texas projects next year are others.

Global solar spending exceeded US$500 billion in 2024. Domestic solar output this year is projected to rise by 34 per cent year-over-year, according to the United States Energy Information Administration.

Solar is the new nuclear. Solar stocks continue to impress with relative strength. Two new earnings breakouts in the space today: $SPRU and $FTCI @MarketSurge #IBDpartner https://t.co/KnrcvqvH3M pic.twitter.com/WGUFDE72Qg

— ivanhoff.com (@ivanhoff2) November 12, 2025