Overview

* HASI Q2 2025 GAAP EPS rises to $0.74 from $0.23 in Q2 2024

* Adjusted EPS for Q2 2025 misses analyst expectations, per LSEG data

* Adjusted recurring net investment income up 25% yr/yr to $85 mln

Outlook

* Company reaffirms 8-10% compound annual growth in Adjusted EPS through 2027

* HASI expects dividends to decline to 55-60% of Adjusted EPS by 2027

* Company sees pipeline exceeding $6 bln supporting future growth

Result Drivers

* INVESTMENT INCOME - Adjusted recurring net investment income rose 25% yr/yr to $85 mln

* EQUITY INVESTMENTS - Income from equity method investments increased due to higher allocations related to tax credits in solar projects

* ASSET GROWTH - Managed assets grew 13% yr/yr to $14.6 bln, supported by new transactions and broadened focus into new asset classes

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $105 mln $92.10

Revenue mln (10

Analysts

)

Q2 Miss $0.60 $0.63

Adjusted (14

EPS Analysts

)

Q2 EPS $0.74

Q2 $75 mln

Distribu

table

Earnings

Q2 Net $98 mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the investment management & fund operators peer group is "buy"

* Wall Street's median 12-month price target for HA Sustainable Infrastructure Capital Inc ( HASI ) is $39.50, about 38.1% above its August 6 closing price of $24.44

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)