Altus Power Full Year 2023 Earnings: Misses Expectations
Altus Power (NYSE:AMPS) Full Year 2023 Results
Key Financial Results
Revenue: US$155.2m (up 53% from FY 2022).
Net loss: US$9.36m (down by 117% from US$55.0m profit in FY 2022).
US$0.059 loss per share (down from US$0.36 profit in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Altus Power Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) was also behind analyst expectations.
In the last 12 months, the only revenue segment was Utilities - Electric contributing US$155.2m. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$53.6m (40% of total expenses). Explore how AMPS's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 30% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in the US are expected to remain flat.
Performance of the American Renewable Energy industry.
The company's shares are down 31% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for Altus Power (1 is a bit concerning!) that you need to take into consideration.
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