Hannon Armstrong Sustainable Infrastructure Capital Inc (HASI) has reported an 127.17 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $7.20 million, or $0.14 a share in the quarter, compared with $3.17 million, or $0.07 a share for the same period last year. Revenue during the quarter grew 16.19 percent to $23.80 million from $20.48 million in the previous year period.
Total expenses were $6.91 million for the quarter, up 10.91 percent or $0.68 million from year-ago period. Operating margin for the quarter expanded 138 basis points over the previous year period to 70.95 percent.
Operating income for the quarter was $16.89 million, compared with $14.25 million in the previous year period.
“Another strong quarter of putting capital to work in long-duration, high credit quality assets has taken our balance sheet over the $2 billion mark, creating long term recurring revenue streams,” said Hannon Armstrong president & chief executive officer, Jeffrey Eckel. “Looking forward, we see a strong, diversified pipeline in each of our efficiency, wind and solar markets, as well as sustainable infrastructure.”
Investments stood at $413.46 million as on Mar. 31, 2017, up 1,025.58 percent or $376.73 million from year-ago.
Total assets jumped 38.34 percent or $566.22 million to $2,043.19 million on Mar. 31, 2017. On the other hand, total liabilities were at $1,406.39 million as on Mar. 31, 2017, up 33.52 percent or $353.08 million from year-ago.
Return on assets moved up 5 basis points to 1.03 percent in the quarter. At the same time, return on equity moved up 38 basis points to 1.13 percent in the quarter.
Debt moves up
Total debt was at $1,196.31 million as on Mar. 31, 2017, up 16.10 percent or $165.91 million from year-ago. Shareholders equity stood at $636.80 million as on Mar. 31, 2017, up 50.31 percent or $213.13 million from year-ago. As a result, debt to equity ratio went down 55 basis points to 1.88 percent in the quarter.
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