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Sep 30, 2024
Altus Power Q3 2024 Earnings Report
Altus Power's financial results for Q3 2024 were announced, demonstrating growth in revenue and net income.
Key Takeaways
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.
Revenue increased by 30% to $58.7 million compared to Q3 2023.
GAAP net income increased to $8.6 million, compared to $6.8 million for the same period last year.
Adjusted EBITDA increased by 27% to $37.0 million compared to Q3 2023.
Nationwide portfolio surpassed 1 GW in operating assets as of September 30, 2024.
Forward Guidance
The Company reaffirmed its previously stated guidance range of $196-201 million of revenue and $111-115 million of adjusted EBITDA* for FY2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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