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Sep 30, 2023
Altus Power Q3 2023 Earnings Report
Altus Power reported an increase in revenue and net income compared to the same quarter last year.
Key Takeaways
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.
Revenue increased by 48% to $45.1 million compared to Q3 2022.
GAAP net income was $6.8 million, a substantial increase from the net loss in Q3 2022.
Adjusted EBITDA increased by 50% to $29.1 million compared to Q3 2022.
The company reaffirmed its 2023 adjusted EBITDA guidance in the range of $97-103 million.
Altus Power
Altus Power
Forward Guidance
Altus Power reaffirmed 2023 adjusted EBITDA in the range of $97-103 million and adjusted EBITDA margin in the mid-to-high 50% range.