ANNAPOLIS, Md. (AP) _ Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) on Wednesday reported first-quarter net income of $13.6 million, after reporting a loss in the same period a year earlier.
The Annapolis, Maryland-based company said it had profit of 21 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 33 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The provider of financing for sustainable infrastructure projects posted revenue of $32.9 million in the period. Its adjusted revenue was $17.5 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $14.8 million.
Hannon Armstrong shares have climbed 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.47, a climb of 35% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HASI at https://www.zacks.com/ap/HASI