HASI earnings analysis
What we found in HASI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
HASI reported a strong Q1 2026, achieving revenue of $82.7 million, exceeding estimates by 131%. EPS came in at $0.77, surpassing expectations by 28.3%, and the company affirmed its long-term adjusted EPS guidance despite previous geopolitical challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Grew Significantly
- Total revenue increased to $82.7 million, up 131% from the estimated $35.8 million.
- EPS Beat Estimates
- Diluted EPS reached $0.77, exceeding estimates of $0.60 by 28.3%.
- Diversified Asset Portfolio
- Managed assets rose to $16.4 billion, showcasing continued investment in sustainable infrastructure.
- Increased Management Fees
- Management fees and retained interest income rose 39%, indicating strong portfolio performance.
- Strong Operating Cash Flow
- Operating cash flow for the quarter was $15.6 million, improving from a net cash used of $37.1 million in the same period last year.
- Cash Available for Reinvestment
- Cash available for reinvestment surged to $938.9 million, up from $(11.7) million YoY.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Interest Expense
- Interest expense surged 53% YoY to $99.3 million, driven by higher debt balances and redemption fees.
- Loss from Equity Method Investments
- Loss from equity method investments dropped significantly to $(79.3) million from a gain of $88 million, impacting net income.
- Credit Risk Exposure
- Potential defaults on receivables and investments amid ongoing economic uncertainty could impact future earnings.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.77
- Segment
- Behind-the-Meter
- Segment
- Grid-Connected
- Segment
- Fuels, Transport, and Nature
What they said about what is next.
Affirms adjusted EPS guidance for 2028 to be in range of $3.50 to $3.60.
The filing reads better than the one before it.
What came before.
- 10-K · February 13, 2026
- HASI positions itself as a specialist investor in sustainable infrastructure with scale and repeatable origination: Managed Assets were approximately $16.1 billion and the on‑balance sheet Portfolio totaled about $7.6…
- 10-Q · August 8, 2025
- HASI reported a strong Q2 2025 performance, with revenue of $85.7 million, significantly higher than the prior year's $94.5 million during the same period. The company achieved a diluted EPS of $0.74, a substantial…
- 10-Q · May 8, 2025
- HA Sustainable Infrastructure Capital reported total revenue of $96,941,000 for Q1 2025, down from $105,816,000 in Q1 2024, while diluted EPS fell to $0.44 from $0.98. Operating performance weakened: income before…
- 10-K · February 14, 2025
- HASI (HA Sustainable Infrastructure Capital, Inc.) presents growth in scale and deal flow while repositioning its tax status. Managed assets reached approximately $13.7 billion as of December 31, 2024, with a retained…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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