Altus Power Q4 2021 Earnings Report
Key Takeaways
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.
Generated revenues of $21.6 million for fourth quarter 2021, an increase of 92% over fourth quarter 2020.
Fourth quarter 2021 GAAP net income totaled $14.5 million, compared to a net loss of $3.3 million for the same period last year.
Adjusted EBITDA during the fourth quarter of 2021 was $12.9 million, compared to $5.6 million for the fourth quarter of 2020, a 129% increase.
Increased installed portfolio of solar generation assets to 362 megawatts across 18 states during 2021.
Altus Power
Altus Power
Forward Guidance
Altus Power is initiating a 2022 adjusted EBITDA guidance range of $57-63 million, nearly 50% growth over 2021 at the midpoint.