Hannon Armstrong Sustainable Infrastructure Capital, Inc (HASI) has reported 96.26 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $4.41 million, or $0.09 a share in the quarter, compared with $2.25 million, or $0.05 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $13.12 million, or $0.29 a share compared with $9.48 million or $0.25 a share, a year ago. Revenue during the quarter grew 22.64 percent to $19.86 million from $16.20 million in the previous year period.
Operating income for the quarter was $13.32 million, compared with $9.68 million in the previous year period.
“We invested over $1 billion in sustainable infrastructure projects in the U.S. in 2016, reducing energy costs and supporting U.S.-based jobs with each investment,” said Hannon Armstrong President & Chief executive officer, Jeffrey Eckel. “Looking forward, investment opportunities remain strong as we continue to see demand for energy efficiency, including C-PACE, and for renewables due to state renewable portfolio standards and corporate procurements.”
Investments stood at $230.32 million as on Dec. 31, 2016, up 24.69 percent or $45.60 million from year-ago.
Total assets grew 18.80 percent or $276.27 million to $1,745.89 million on Dec. 31, 2016. On the other hand, total liabilities were at $1,171.55 million as on Dec. 31, 2016, up 12.92 percent or $134.03 million from year-ago.
Return on assets moved up 30 basis points to 0.96 percent in the quarter. At the same time, return on equity moved up 25 basis points to 0.77 percent in the quarter.
Debt moves up
Total debt was at $975.44 million as on Dec. 31, 2016, up 7.06 percent or $64.30 million from year-ago. Shareholders equity stood at $574.34 million as on Dec. 31, 2016, up 32.92 percent or $142.23 million from year-ago. As a result, debt to equity ratio went down 41 basis points to 1.70 percent in the quarter.
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