Earnings Releases·Nov 5, 2026, 4:11 PM ET

HA Sustainable Infrastructure Capital, Inc. — Third Quarter 2026 Earnings Summary

GAAP net income surged 76% year-over-year to $146.5 million ($1.04 EPS) in Q3 2026, driven by a $213.9 million gain from equity method investments, while Adjusted EPS rose 2.5% to $0.82 and Adjusted Recurring Net Investment Income increased 15% to $121.3 million.
The company reaffirmed 2026 Adjusted EPS guidance of $3.55–$3.65 and a 2028 Adjusted ROE target of at least 17.0%, alongside a strategic commitment to reduce the payout ratio to below 50% by 2028 and 40% by 2030.
Managed Assets grew 27% year-over-year to $19.0 billion, supported by a $6.5 billion investment pipeline and new transactions totaling $1.1 billion in Q3, including an expanded partnership with Invenergy for 2.7 GW of renewable projects.
Financial results were partially offset by a $21.4 million economic loss on consolidated assets due to remediation costs and a $35 million unrealized gain on a solar asset servicing platform, while interest expense rose to $96.4 million amid higher borrowing costs.
The Board declared a $0.425 quarterly dividend payable in January 2027; the company maintains $2.0 billion in total liquidity with 87% of its $6.5 billion debt portfolio fixed or hedged.