Hannon Armstrong Q4 2022 Earnings Report
Key Takeaways
Hannon Armstrong reported fourth quarter and full year 2022 results. The company's Distributable EPS grew at 11% CAGR since its first full year of going public. The company affirms guidance that Distributable Earnings Per Share is expected to grow at a compound annual rate of 10% to 13% from 2021 to 2024.
Delivered $0.47 GAAP EPS on a fully diluted basis in 2022, compared with $1.51 in 2021
Delivered $2.08 Distributable EPS on a fully diluted basis in 2022, compared to $1.88 Distributable EPS in 2021, representing 11% year-on-year growth
Grew Portfolio 19% in 2022 to $4.3 billion and managed assets 11% to $9.8 billion compared to the end of 2021
Reported GAAP-based Net Investment Income of $45 million in 2022, compared to $11 million in 2021
Hannon Armstrong
Hannon Armstrong
Forward Guidance
The Company expects that annual distributable earnings per share will grow at a compounded annual rate of 10% to 13% from 2021 to 2024, relative to the 2020 baseline of $1.55 per share, which is equivalent to a 2024 midpoint of $2.40 per share. The Company also expects growth of annual dividends per share to be at a compounded annual rate of 5% to 8%.