NYSE$HASI
Hannon Armstrong Sustainable Infrastructure Capital Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported increased investment volume and yields, and affirmed guidance.
Hannon Armstrong announced second quarter 2023 results, reporting a GAAP diluted EPS of $0.14 and Distributable EPS of $0.53. The company closed $426 million of investments and affirmed its distributable earnings per share growth guidance of 10% to 13% from 2021 to 2024.
- Largest first half volume of $815m and investment yields >8.5% highlight continued execution of business objectives.
- Portfolio yield increases to 7.7%.
- Investment pipeline of >$5b and diversification of asset classes provide strong visibility on portfolio growth
- Intention to discontinue electing REIT status in 2024 to better capture growing investment opportunities.
Headline financials
Revenue & EPS history
Hannon Armstrong · Revenue · Quarterly
$74.3M
Revenue by segment
Hannon Armstrong · $43.9M total across 2 segments · Q4 2021
- Interest and Rental Income$30.5M—69.6%
- Gain on Sale of Assets$13.3M—30.4%
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%.
Tailwinds
- Expected yield on existing portfolio
- Expected yield on incremental portfolio investments, inclusive of the Company’s existing pipeline
- Volume and profitability of 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
- General interest rate and market environment
- Regulatory environment
- Dynamics of the markets in which we operate
- Judgement of the Company’s management team
- Distributions are subject to approval by the Company’s Board of Directors on a quarterly basis
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 2023
+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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro