Hannon Armstrong ( (HASI) ) has released its Q3 earnings. Here is a breakdown of the information Hannon Armstrong presented to its investors.
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Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) is a prominent investment firm specializing in climate solutions, focusing on deploying real assets that support the energy transition across various clean energy markets.
In its third quarter of 2024 report, HASI revealed a robust increase in managed assets, closing transactions amounting to $396 million in the quarter, and maintaining its strategic growth trajectory despite the challenges posed by fluctuating interest rates and public policy uncertainties.
The company reported a 14% year-over-year increase in managed assets to $13.1 billion and a 15% growth in its portfolio to $6.3 billion. New investments have yielded approximately 10.5% through the first three quarters. However, the company’s GAAP earnings per share turned negative at $(0.17) compared to $0.20 a year ago, while adjusted earnings per share dropped to $0.52 from $0.62. Despite a decline in total revenue by 9%, compensated by a rise in interest and securitization income, HASI’s strategic client partnerships and asset rotation initiatives have bolstered portfolio profitability.
Concluding on a forward-looking note, HASI’s management remains optimistic about continuing adjusted earnings growth and asset management amidst market volatility. The company has confirmed its guidance for adjusted EPS growth between 2024 and 2026 and declared a quarterly dividend of $0.415 per share, reflecting confidence in its resilient operational model.
