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Hannon Armstrong meets 4Q profit forecasts

ANNAPOLIS, Md. (AP) _ Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) on Thursday reported fourth-quarter earnings of $4.4 million.

On a per-share basis, the Annapolis, Maryland-based company said it had net income of 9 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 29 cents per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 29 cents per share.

The provider of financing for sustainable infrastructure projects posted revenue of $7.6 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $9.7 million.

For the year, the company reported profit of $14.7 million, or 32 cents per share. Revenue was reported as $36 million.

Hannon Armstrong shares have risen almost 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.73, a climb of 16 percent 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


Keywords: Hannon Armstrong, Earnings Report