HA Sustainable Infrastructure Capital (NYSE:HASI) Announces Earnings Results

Key Points

• HASI beat quarterly expectations: EPS was $0.75 versus the $0.73 consensus, while revenue reached $120.79 million, ahead of the $111.95 million estimate.
• Management raised its outlook: Fiscal 2026 EPS guidance was increased to $3.55–$3.65, supported by strong investment activity, including more than $1.7 billion closed year to date and a pipeline exceeding $6.5 billion.
• The company maintained its quarterly dividend at $0.425 per share, equal to an annualized $1.70 payout and an approximately 4.2% yield, though one renewable natural gas project faces construction problems and potential recovery risk.

HA Sustainable Infrastructure Capital (NYSE:HASI - Get Free Report) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.02, FiscalAI reports. HA Sustainable Infrastructure Capital had a return on equity of 13.65% and a net margin of 18.61%.The business had revenue of $120.79 million during the quarter, compared to analysts' expectations of $111.95 million. HA Sustainable Infrastructure Capital updated its FY 2026 guidance to 3.550-3.650 EPS.

Here are the key takeaways from HA Sustainable Infrastructure Capital's conference call:

• Second-quarter performance was strong: adjusted EPS rose 25% year over year to $0.75, adjusted recurring net investment income increased 27% to $208 million in the first half, and adjusted ROE exceeded 15% for the second consecutive quarter.
• HASI raised its 2028 adjusted EPS guidance to $3.55-$3.65 from $3.50-$3.60 while maintaining its target for adjusted ROE above 17%, citing stronger investment volumes, margins, capital efficiency, and greater outlook visibility.
• Investment activity remains robust, with more than $1.7 billion closed year to date and a pipeline above $6.5 billion; management reaffirmed its 2026 target of $2-$3 billion in balance-sheet or CCH1 transactions.
• The company reported ample funding capacity, including $2.2 billion of liquidity, a revolver expanded to $2.25 billion and extended to 2031, and lower debt costs supported by improved spreads and hedging. CCH1 is expected to reach capacity around year-end or early 2027, with CCH2 intended to provide a seamless successor.
• One renewable natural gas asset moved to category 2 after construction problems; HASI has taken control and plans to complete and sell the project, but acknowledged that full recovery of its investment is not guaranteed.

HA Sustainable Infrastructure Capital Price Performance

Shares of HA Sustainable Infrastructure Capital stock traded up $2.48 during trading on Friday, reaching $40.72. 1,853,042 shares of the stock traded hands, compared to its average volume of 829,837. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 76.83, a P/E/G ratio of 1.13 and a beta of 1.43. The business has a fifty day simple moving average of $38.53 and a two-hundred day simple moving average of $38.20. The company has a debt-to-equity ratio of 2.12, a current ratio of 12.10 and a quick ratio of 12.10. HA Sustainable Infrastructure Capital has a 52-week low of $24.42 and a 52-week high of $44.13.

HA Sustainable Infrastructure Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 2nd. HA Sustainable Infrastructure Capital's dividend payout ratio is 485.71%.

Trending Headlines about HA Sustainable Infrastructure Capital

Here are the key news stories impacting HA Sustainable Infrastructure Capital this week:

• Positive Sentiment: HASI reported second-quarter EPS of $0.75, exceeding the $0.73 analyst consensus and rising from $0.60 a year earlier. Revenue reached $120.79 million, above the $111.95 million estimate, with reported year-over-year growth of 41%. HASI Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its fiscal 2026 EPS outlook to $3.55-$3.65, substantially above the current analyst consensus of $2.71. The company also increased its 2028 adjusted EPS outlook, reinforcing expectations for continued growth. HASI Gains on Earnings Beat and Higher Outlook
• Positive Sentiment: JPMorgan raised its HASI price target from $50 to $51 and maintained an “overweight” rating, signaling confidence in the company’s earnings outlook and implying additional upside from recent trading levels. JPMorgan Price Target Report
• Positive Sentiment: The REIT declared a quarterly dividend of $0.425 per share, equivalent to an annualized payout of $1.70 and a reported yield of approximately 4.2%. The dividend may support investor interest, although the October 2 ex-dividend date is still ahead.
• Neutral Sentiment: Brokerages broadly rate HASI a “Moderate Buy,” providing additional support for the stock’s positive investor sentiment. HASI Receives Moderate Buy Rating

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of HA Sustainable Infrastructure Capital from $43.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Citigroup lifted their price target on shares of HA Sustainable Infrastructure Capital from $36.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Morgan Stanley upped their price target on shares of HA Sustainable Infrastructure Capital from $54.00 to $57.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. UBS Group increased their price objective on shares of HA Sustainable Infrastructure Capital from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of HA Sustainable Infrastructure Capital in a research report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.10.

Hedge Funds Weigh In On HA Sustainable Infrastructure Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in HA Sustainable Infrastructure Capital by 24.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,604,443 shares of the real estate investment trust's stock worth $207,578,000 after acquiring an additional 1,282,466 shares during the last quarter. State Street Corp raised its holdings in shares of HA Sustainable Infrastructure Capital by 2.0% during the 4th quarter. State Street Corp now owns 5,417,644 shares of the real estate investment trust's stock worth $172,499,000 after acquiring an additional 108,376 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of HA Sustainable Infrastructure Capital by 1,015.5% during the 2nd quarter. Alliancebernstein L.P. now owns 4,356,352 shares of the real estate investment trust's stock valued at $117,012,000 after acquiring an additional 3,965,832 shares during the last quarter. Amundi boosted its position in shares of HA Sustainable Infrastructure Capital by 10.7% during the 3rd quarter. Amundi now owns 2,663,456 shares of the real estate investment trust's stock valued at $81,771,000 after acquiring an additional 256,939 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of HA Sustainable Infrastructure Capital by 27.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,625,977 shares of the real estate investment trust's stock valued at $82,535,000 after purchasing an additional 565,279 shares in the last quarter. 96.14% of the stock is owned by institutional investors.

HA Sustainable Infrastructure Capital Company Profile

Hannon Armstrong Sustainable Infrastructure Capital, Inc NYSE: HASI is a publicly traded real estate investment trust specializing in financing and investing in climate change solutions. Founded in 1988 and headquartered in Annapolis, Maryland, the company provides debt and equity capital to sustainable infrastructure projects across North America. Its mission is to support energy efficiency, renewable energy generation and resilient infrastructure, helping public and private sector clients reduce carbon emissions and achieve long-term environmental goals.

Hannon Armstrong's core business activities include originating and structuring loans, acquiring debt and equity interests, and managing a diversified portfolio of projects in sectors such as solar energy, wind power, energy storage, green buildings, and sustainable agriculture.

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