Business Wire·May 7, 2026, 4:05 PM ET

HASI Announces First Quarter 2026 Results With 20% Y/Y Growth in Adjusted EPS and Record Adjusted ROE of 15.7%

HASI

HA Sustainable Infrastructure Capital, Inc. (HASI) reported first quarter 2026 results with GAAP EPS of $(0.57) and Adjusted EPS of $0.77.
Adjusted Recurring Net Investment Income reached $101 million in Q1 2026, representing a 29% increase year-over-year from $78 million in Q1 2025.
Adjusted Return on Equity (ROE) increased to 15.7% in Q1 2026, compared to 12.8% in the prior year period.
Managed Assets grew 13% year-over-year to $16.4 billion as of March 31, 2026, with a portfolio yield of 9.2%.
The company closed over $600 million in transactions during Q1 2026, with new asset yields on portfolio investments exceeding 10.5%.
HASI issued $1 billion in unsecured notes at a weighted average coupon of approximately 6.68% and redeemed its 8.00% senior unsecured notes due 2027.
The company affirmed guidance for 2028 Adjusted EPS between $3.50 and $3.60, Adjusted ROE of at least 17%, a payout ratio below 50% by 2028, and below 40% by 2030.
GAAP net loss attributable to controlling stockholders was $(72) million in Q1 2026, primarily driven by a $79 million loss from equity method investments due to tax equity timing differences.
Total debt outstanding stood at $5.4 billion as of March 31, 2026, with a debt-to-equity ratio of 1.6x.
The Board of Directors approved a quarterly cash dividend of $0.425 per share, payable on July 10, 2026.
Managed assets are estimated to avoid 10.2 million metric tons of carbon emissions annually, while transactions closed in Q1 2026 will avoid an additional 259,000 metric tons annually.