Hannon Armstrong: 2Q Earnings Snapshot
ANNAPOLIS, Md. (AP) _ Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) on Thursday reported second-quarter earnings of $12.7 million.
On a per-share basis, the Annapolis, Maryland-based company said it had profit of 19 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 30 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The provider of financing for sustainable infrastructure projects posted revenue of $31.3 million in the period. Its adjusted revenue was $16.4 million, which also missed Street forecasts. Four analysts surveyed by Zacks expected $16.5 million.
Hannon Armstrong shares have risen 43% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.28, an increase of 41% in the last 12 months.