Hannon Armstrong Q3 2024 Earnings Report
Key Takeaways
HA Sustainable Infrastructure Capital (HASI) reported a GAAP EPS of $(0.17) and Adjusted EPS of $0.52 for Q3 2024. Managed assets grew 14% year-over-year to $13.1 billion, and the portfolio increased 15% to $6.3 billion. The company reaffirmed its adjusted EPS growth guidance for 2024-2026 and declared a quarterly dividend of $0.415 per share.
Closed transactions with multiple new clients, including Lightsource bp and Vision RNG.
Managed assets increased 14% year-over-year to $13.1 billion, and the portfolio grew 15% year-over-year to $6.3 billion.
GAAP EPS was $(0.17), and Adjusted EPS was $0.52.
Confirmed adjusted EPS growth guidance from 2024 to 2026 and declared a quarterly dividend of $0.415 per share.
Hannon Armstrong
Hannon Armstrong
Forward Guidance
The company confirms its guidance for adjusted earnings per share and dividend payout ratio, expecting annual adjusted EPS to grow at a compounded annual rate of 8% to 10% from 2024 to 2026, with distributions of annual dividends per share at a payout ratio of between 60% and 70% of annual adjusted earnings per share.
Positive Outlook
- Expect annual adjusted earnings per share to grow at a compounded annual rate of 8% to 10% from 2024 to 2026.
- Distributions of annual dividends per share from 2024 to 2026 at a payout ratio of between 60% and 70% of annual adjusted earnings per share.
- Guidance reflects judgments and estimates of yield on the existing portfolio.
- Guidance reflects judgments and estimates of yield on incremental portfolio investments, inclusive of the existing pipeline.
- Guidance reflects judgments and estimates of the volume and profitability of transactions.
Challenges Ahead
- Guidance is subject to the amount, timing, and costs of debt and equity capital to fund new investments.
- Guidance is subject to changes in costs and expenses reflective of forecasted operations.
- Guidance is subject to the general interest rate and market environment.
- Distributions are subject to approval by the Board of Directors on a quarterly basis.
- The Company has not provided GAAP guidance.