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Mar 31, 2022
Altus Power Q1 2022 Earnings Report
Announced first quarter 2022 financial results.
Key Takeaways
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.
Operating revenues increased by 54% to $19.2 million compared to Q1 2021.
GAAP net income was $60.1 million, driven by a $64.8 million non-cash gain.
Adjusted EBITDA increased by 38% to $8.8 million compared to Q1 2021.
Reaffirmed full-year 2022 adjusted EBITDA guidance of $57-63 million.
Altus Power
Altus Power
Forward Guidance
Altus Power reaffirms its 2022 adjusted EBITDA guidance range of $57-63 million, as well as guidance for 2022 adjusted EBITDA margin in the mid-50% range.