Altus Power Earnings Reports

Altus Power achieved a 30% year-over-year revenue increase in Q4 2024, reaching $44.5 million. However, net loss widened to $56.5 million due to tax expenses and a remeasurement loss on alignment shares. Adjusted EBITDA increased by 37% to $23.8 million, reflecting improved operational performance. The company announced a pending acquisition by TPG, which is expected to be completed in Q2 2025.

Altus Power reported a 30% increase in revenue to $58.7 million and a net income of $8.6 million for the third quarter of 2024. The company's adjusted EBITDA also increased by 27% to $37.0 million. They reaffirmed their revenue guidance of $196-201 million and adjusted EBITDA guidance of $111-115 million for FY2024.

Altus Power reported a strong second quarter in 2024, with a 13% increase in revenue to $52.5 million and a significant rise in GAAP net income to $33.1 million. The company's adjusted EBITDA also increased by 2% to $31.2 million.

Altus Power reported a strong first quarter in 2024, with a 38% increase in revenue to $40.7 million and a rise in GAAP net income to $4.1 million. The company also saw a 23% increase in adjusted EBITDA, reaching $19.7 million, driven by the expansion of solar energy facilities and strategic acquisitions.

Altus Power reported a GAAP net loss of $40.0 million for the fourth quarter of 2023, compared to a net income of $67.1 million in the same period last year. However, operating revenues increased by 28% to $34.2 million, driven by growth in megawatt hours generated. Adjusted EBITDA increased by 5% to $17.3 million.

Altus Power announced strong Q3 2023 financial results, with a 48% increase in revenue to $45.1 million and a significant increase in GAAP net income to $6.8 million. The company reaffirmed its 2023 adjusted EBITDA guidance and continues to expand its asset portfolio.

Altus Power reported a strong second quarter of 2023, marked by record revenue of $46.5 million and adjusted EBITDA of $30.6 million. The company's growth was fueled by increased construction output and strategic asset acquisitions, positioning it as the largest owner of commercial solar arrays in the country.

Altus Power announced its Q1 2023 financial results, reporting a 53% increase in revenue to $29.4 million and an 83% increase in adjusted EBITDA to $16.0 million compared to Q1 2022. However, GAAP net income decreased to $3.8 million from $60.1 million year-over-year, primarily due to changes in non-cash remeasurement of alignment shares. The company reaffirmed its 2023 adjusted EBITDA guidance in the range of $97-103 million.

Altus Power reported a strong quarter with a 51% increase in revenue compared to Q3 2021, reaching $30.4 million. However, the company experienced a GAAP net loss of $96.6 million, primarily due to a non-cash loss from the fair value remeasurement of warrants and alignment shares. Adjusted EBITDA increased by 66% to $19.4 million, with an adjusted EBITDA margin of 64%.

Altus Power reported a strong second quarter in 2022, marked by a 41% increase in revenue to $24.8 million compared to the same period last year. The company achieved a net income of $21.6 million, a significant turnaround from the previous year's net loss, primarily due to a non-cash gain from fair value remeasurement. Adjusted EBITDA also saw a 37% increase, reaching $13.9 million, and the company reaffirmed its full-year adjusted EBITDA guidance.

Altus Power reported a strong first quarter in 2022, with a 54% increase in operating revenues to $19.2 million and a GAAP net income of $60.1 million, driven by a $64.8 million non-cash gain. The adjusted EBITDA also increased by 38% to $8.8 million. The company reaffirmed its full-year 2022 adjusted EBITDA guidance of $57-63 million and announced a partnership with Trammell Crow for the installation of up to 300 MW of solar generation assets.

Altus Power reported a significant increase in revenue and net income for Q4 2021 compared to Q4 2020. Revenue increased by 92%, and net income was $14.5 million, compared to a net loss of $3.3 million in the same period last year.