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Jun 30, 2021
Hannon Armstrong Q2 2021 Earnings Report
Reported strong growth in earnings, portfolio, and managed assets, driven by a robust programmatic investment platform and dual revenue model. Advocated for mandatory and standardized ESG disclosures to the SEC.
Key Takeaways
Hannon Armstrong announced second-quarter results, reporting GAAP EPS of $0.20 and Distributable EPS of $0.57. The company grew its portfolio by 43% year-over-year to $3.0 billion and managed assets by 29% year-over-year to $8.0 billion. They also declared a dividend of $0.35 per share.
GAAP EPS was $0.20, compared to $0.16 for the same period in 2020.
Distributable EPS was $0.57, compared to $0.40 for the same period in 2020.
Portfolio grew 43% year-over-year to $3.0 billion.
Managed assets grew 29% year-over-year to $8.0 billion.
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.com Forward Guidance
The Company expects that annual distributable earnings per share will grow at a compounded annual rate of 7% to 10% from 2021 to 2023, relative to the 2020 baseline of $1.55 per share, which is equivalent to a 2023 midpoint of $1.98 per share. The Company also expects that annual dividends per share will grow at a compound annual rate of 3% to 5% from 2021 to 2023, relative to the 2020 baseline of $1.36 per share, which is equivalent to a 2023 midpoint of $1.53 per share.
Positive Outlook
- Yield on its existing Portfolio
- Yield on incremental Portfolio investments, inclusive of the Company’s existing pipeline
- The volume and profitability of securitization transactions
- Amount, timing, and costs of debt and equity capital to fund new investments
- Changes in costs and expenses reflective of the Company’s forecasted operations
Challenges Ahead
- The ongoing impact of COVID-19 and the speed and efficacy of vaccine distribution on economic conditions
- The general interest rate and market environment
- Negative impacts from a continued spread of COVID-19, including on the U.S. or global economy or on our business, financial position or results of operations
- Market trends in our industry, energy markets, commodity prices including continued low natural gas prices, interest rates, the capital markets or the general economy
- Competition from other providers of capital
Revenue & Expenses
Visualization of income flow from segment revenue to net income