Hannon Armstrong: 3Q Earnings Snapshot
ANNAPOLIS, Md. (AP) _ Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) on Wednesday reported third-quarter profit of $9.1 million.
On a per-share basis, the Annapolis, Maryland-based company said it had profit of 13 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 38 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The provider of financing for sustainable infrastructure projects posted revenue of $38.8 million in the period. Its adjusted revenue was $22.3 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $17.4 million.
Hannon Armstrong shares have risen 56% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.80, a rise of 47% in the last 12 months.