NYSE$HASI
Hannon Armstrong Sustainable Infrastructure Capital Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
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.
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.
Headline financials
Revenue & EPS history
Hannon Armstrong · Revenue · Quarterly
$58.9M
Revenue by segment
Hannon Armstrong · $49.4M total across 2 segments · Q2 2021
- Interest and Rental Income$25M—50.6%
- Gain on Sale of Assets$24.4M—49.4%
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.
Tailwinds
- 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
Headwinds
- 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
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+1.6%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+0.7%
Avg return
30 days after
67%
35 / 52 earnings
Positive
+23.1%
Q3 2023
Best reaction
-11.9%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | -4.6% | -9.2% | |
| Q4 2025 | +10.8% | +5.4% | -1.2% | |
| Q3 2025 | +12.4% | +18.8% | +17.1% | |
| Q1 2025 | +0.2% | +6.3% | -1.4% | |
| Q4 2024 | +0.3% | +3.6% | +4.1% | |
| Q3 2024 | -11.3% | -16.6% | -3.5% | |
| Q2 2024 | -5.0% | -8.0% | -1.2% | |
| Q1 2024 | +16.8% | +23.1% | +22.0% | |
| Q4 2023 | +7.2% | +6.0% | -0.1% | |
| Q3 2023 | +23.1% | +14.3% | +43.6% | |
| Q2 2023 | +2.0% | -9.1% | -3.8% | |
| Q1 2023 | +1.0% | -4.2% | -4.1% | |
| Q4 2022 | -5.2% | -11.1% | -33.8% | |
| Q3 2022 | +7.1% | +10.9% | +23.9% | |
| Q2 2022 | +5.9% | +15.3% | +0.3% | |
| Q1 2022 | +5.6% | -3.0% | -3.4% | |
| Q4 2021 | +6.3% | +3.6% | +10.4% | |
| Q3 2021 | -0.2% | -0.1% | -11.0% | |
| Q2 2021 | +0.6% | +4.1% | +4.3% | |
| Q1 2021 | -7.9% | -7.2% | -7.1% | |
| Q4 2020 | +3.2% | -5.1% | -13.1% | |
| Q3 2020 | +10.3% | +11.5% | +23.6% | |
| Q2 2020 | +3.7% | +2.3% | +9.5% | |
| Q1 2020 | +6.9% | +1.0% | +8.2% | |
| Q4 2019 | +3.5% | +0.8% | -53.9% | |
| Q3 2019 | +1.2% | +0.6% | -0.5% | |
| Q2 2019 | +0.2% | -1.2% | +0.7% | |
| Q1 2019 | +2.4% | +4.0% | -2.6% | |
| Q4 2018 | +1.8% | +5.9% | +6.7% | |
| Q3 2018 | +5.5% | +9.6% | +10.1% | |
| Q2 2018 | +0.4% | +1.9% | +11.2% | |
| Q1 2018 | -3.6% | -2.3% | -6.1% | |
| Q4 2017 | -11.9% | -10.9% | -10.3% | |
| Q3 2017 | -3.1% | -1.7% | -0.6% | |
| Q2 2017 | +1.8% | +4.3% | -0.3% | |
| Q1 2017 | -1.8% | -0.5% | -0.2% | |
| Q4 2016 | +3.2% | +3.1% | +1.0% | |
| Q3 2016 | -7.1% | -8.5% | -13.3% | |
| Q2 2016 | +2.3% | +2.7% | +11.3% | |
| Q1 2016 | +2.6% | — | — | |
| Q4 2015 | +1.2% | — | — | |
| Q3 2015 | -4.6% | — | — | |
| Q2 2015 | -6.5% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | +4.5% | — | — | |
| Q3 2014 | -1.2% | — | — | |
| Q2 2014 | +6.4% | — | — | |
| Q1 2014 | +1.6% | — | — | |
| Q4 2013 | -1.8% | — | — | |
| Q3 2013 | -5.6% | — | — | |
| Q2 2013 | +0.8% | — | — | |
| Q1 2013 | +0.9% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — |
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