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Mar 31
Hannon Armstrong Q1 2025 Earnings Report
Hannon Armstrong reported its first quarter 2025 results.
Key Takeaways
Hannon Armstrong (HASI) reported a solid first quarter in 2025, with managed assets increasing 12% year-over-year to $14.5 billion and recurring income up 14% year-over-year to $79 million. The company closed a record $700 million in transactions during the quarter and reaffirmed its Adjusted EPS growth guidance of 8-10% through 2027.
Closed over $700 million in transactions during the quarter, setting a new Q1 record.
Managed assets grew 12% year-over-year to $14.5 billion.
Recurring income (Adjusted Net Investment Income and Securitization Asset Income) increased 14% year-over-year to $79 million.
Reaffirmed guidance for Adjusted EPS growth of 8-10% through 2027 and declared a quarterly dividend of $0.42 per share.
Hannon Armstrong
Hannon Armstrong
Hannon Armstrong Revenue by Segment
Revenue by Segment
Interest income Revenue
CapyFin.comRental income Revenue
CapyFin.comGain on sale of assets Revenue
CapyFin.comSecuritization asset income Revenue
CapyFin.comOther income Revenue
CapyFin.com Forward Guidance
The company reaffirmed its guidance for Adjusted Earnings per Share and dividend payout ratio, expecting Adjusted EPS to grow at a compound annual rate of 8% to 10% through 2027, reaching a midpoint of $3.15 per share in 2027. Annual dividends per share of common stock are expected to decline to between 55% and 60% of annual Adjusted Earnings per Share by 2027.
Positive Outlook
- Continued strong yield on existing portfolio.
- Strong yield on incremental portfolio investments, including existing pipeline.
- Expected volume and profitability of transactions.
- Visibility provided by existing portfolio and pipeline.
- Strong tailwinds to U.S. electricity demand.
Challenges Ahead
- Potential changes in costs and expenses reflective of forecasted operations.
- Uncertainty regarding the amount, timing, and costs of debt and equity capital to fund new investments.
- General interest rate fluctuations.
- Market environment changes.
- Distributions are subject to quarterly Board of Directors approval.