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Altus Power (AMPS)
NYSE:AMPS
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Earnings Data
Report Date
Mar 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.05Last Year’s EPS
-$0.17Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: 14.15%
|Next Earnings Date:Mar 20, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong revenue growth, successful strategic initiatives, and significant expansion in the Community Solar portfolio. However, challenges such as interconnection delays and increased operating expenses were noted.Company Guidance
During the Altus Power, Inc. third quarter 2024 earnings call, the company reaffirmed its confidence in achieving its 2024 guidance range of $196 million to $201 million in revenue and $111 million to $115 million in adjusted EBITDA. The company reported a significant 30% increase in revenue year-over-year, reaching $58.7 million due to growth in its portfolio and increased electricity sales. Adjusted EBITDA rose 27% to $37 million, driven by portfolio expansion despite higher operating expenses. Altus Power generated 333 million kilowatt hours of clean electricity during the quarter, and the net income was $8.6 million. The company also highlighted a 500% increase in its Community Solar customer base over the past two years, with approximately 30,000 customers across nine states. Altus Power's strategic focus on optimizing existing assets and a targeted market-specific approach to client engagement was noted as contributing to the company's momentum and anticipated growth.Record Growth in Revenue and Kilowatt Hours
Altus Power generated 333 million kilowatt hours of clean electricity, resulting in $58.7 million of revenue, marking a 30% increase compared to the third quarter of 2023.
Significant Expansion in Community Solar Portfolio
Altus Power announced new Community Solar projects in Colorado and Maine, expanding to 9 states and close to 500% growth in customer base over two years.
Successful Tax Equity Transaction
Altus Power structured a new form of tax equity transaction, enhancing market efficiency and competitiveness in renewable energy project financing.
Strong Financial Performance
The company reported a GAAP net income of $8.6 million and an adjusted EBITDA of $37 million, a 27% increase compared to the third quarter of 2023.
1 Gigawatt Milestone
Altus Power surpassed 1 gigawatt of operating assets, enhancing operational efficiency and competitive edge in the commercial scale solar market.
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AMPS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AMPS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $3.11 | $3.95 | +27.01% |
| Aug 08, 2024 | $3.53 | $3.16 | -10.48% |
| May 09, 2024 | $4.55 | $4.44 | -2.42% |
| Mar 14, 2024 | $5.94 | $4.57 | -23.06% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Altus Power (AMPS) report earnings?
Altus Power (AMPS) is schdueled to report earning on Mar 20, 2025, TBA Not Confirmed.
What is Altus Power (AMPS) earnings time?
Altus Power (AMPS) earnings time is at Mar 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AMPS EPS forecast?
AMPS EPS forecast for the fiscal quarter 2024 (Q4) is -$0.05.
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