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HASI Announces Second Quarter 2026 Results and Raises Guidance on 24% Y/Y Adjusted EPS Growth YTD and Adjusted ROE Above 15%

HASI
  • HA Sustainable Infrastructure Capital reported GAAP EPS of $0.92 & Adjusted EPS of $0.75 for Q2 2026, compared to $0.74 & $0.60 respectively in Q2 2025.
  • GAAP Net Investment Income was $9.9 million in Q2 2026, while Adjusted Recurring Net Investment Income rose 26% year-over-year to $107 million.
  • GAAP-based Return on Equity was 20.3% in Q2 2026, with Adjusted ROE increasing to 15.2% for the same period.
  • Managed Assets grew 20% year-over-year to $17.6 billion as of June 30, 2026.
  • The company closed over $1.4 billion in balance sheet & CCH1 transactions year-to-date, with new portfolio investment yields exceeding 11%.
  • No new shares were issued via the ATM program year-to-date, with expectations for minimal issuances in 2026 due to a projected $2-3 billion in new investments.
  • HASI issued $1 billion in unsecured notes at an effective cost of ~5.6% & increased its revolver capacity by $425 million to $2.25 billion.
  • Guidance for 2028 Adjusted EPS was raised to a range of $3.55-$3.65, up from $3.50-$3.60, while maintaining an Adjusted ROE target of at least 17.0%.
  • Total debt outstanding was $5.9 billion at June 30, 2026, with a debt-to-equity ratio of 1.7x, and 95% of debt was fixed-rate or hedged.
  • The company announced a quarterly cash dividend of $0.425 per share, payable on October 16, 2026, to stockholders of record as of October 2, 2026.
  • Managed assets are projected to avoid approximately 10.4 million metric tons of carbon emissions annually.
  • The weighted average yield on the GAAP-based portfolio was 9.2% for the three months ended June 30, 2026, up from 8.2% in the prior year period.