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Dec 31, 2024
Altus Power Q4 2024 Earnings Report
Altus Power reported strong revenue growth but a higher net loss in Q4 2024.
Key Takeaways
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.
Revenue increased 30% year-over-year to $44.5 million in Q4 2024.
Net loss widened to $56.5 million, primarily due to tax expenses and non-cash losses.
Adjusted EBITDA grew 37% to $23.8 million, driven by asset expansion.
Altus Power is set to be acquired by TPG for $5.00 per share, with closing expected in Q2 2025.
Forward Guidance
Altus Power expects continued revenue growth under TPG ownership, with plans to accelerate deployment and innovation in clean energy.
Positive Outlook
- Projected revenue growth under TPG ownership with increased capital support.
- Continued expansion of solar energy facilities to meet rising demand.
- Focus on long-term power purchase agreements for revenue stability.
- Operational efficiencies expected to enhance profitability.
- Integration of acquired assets to improve scale and cost efficiencies.
Challenges Ahead
- Increased tax expenses could impact net income in the near term.
- Regulatory approvals required for the TPG acquisition may delay closing.
- Higher general and administrative expenses may pressure margins.
- Potential challenges in integrating newly acquired assets efficiently.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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