Revenue: As of FY2026 Q1, the actual value is USD 124.23 M.EPS: As of FY2026 Q1, the actual value is USD -0.57, missing the estimate of USD 0.445.EBIT: As of FY2026 Q1, the actual value is USD -8.675 M.HA Sustainable Infrastructure Capital, Inc. reported a total revenue of $124,226 thousand for the three months ended March 31, 2026, an increase of 28% from $96,941 thousand in the same period of 2025. This increase was primarily driven by a $16,212 thousand rise in interest and rental income, a $4,084 thousand increase in gain on sale of assets, a $2,732 thousand increase in management fees and retained interest income, and a $4,257 thousand increase in origination fee and other income .<h4>Operational Metrics</h4><ul><li>Net Income (Loss): The company reported a net loss of -$73,742 thousand for the three months ended March 31, 2026, a decrease of -227% compared to a net income of $58,185 thousand in the same period of 2025 .</li><li>Total Expenses: Total expenses increased by 45% to $149,487 thousand in Q1 2026, from $102,847 thousand in Q1 2025 .</li><li>Interest Expense: Interest expense rose by 53% to $99,275 thousand in Q1 2026, from $64,677 thousand in Q1 2025, partly due to $19 million in redemption fees and expensed capitalized debt issuance costs .</li><li>Provision for Loss on Receivables and Retained Interests in Securitization Trusts: This increased by 19% to $4,541 thousand in Q1 2026, from $3,812 thousand in Q1 2025, primarily due to an asset-specific reserve .</li><li>Compensation and Benefits: These expenses increased by 42% to $35,505 thousand in Q1 2026, from $24,980 thousand in Q1 2025, largely due to accelerated share-based compensation .</li><li>General and Administrative Expenses: These saw an 8% increase, reaching $10,166 thousand in Q1 2026, up from $9,378 thousand in Q1 2025 .</li><li>Income (Loss) from Equity Method Investments: This decreased significantly by -190% to -$79,258 thousand in Q1 2026, from $87,989 thousand in Q1 2025, mainly due to a -$97 million loss from a timing difference .</li><li>Income Tax (Expense) Benefit: The company reported an income tax benefit of $30,777 thousand in Q1 2026, compared to an expense of -$23,898 thousand in Q1 2025, a -229% change, primarily due to lower pre-tax book income .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by (Used in) Operating Activities: This was $15,614 thousand in Q1 2026, compared to -$37,121 thousand in Q1 2025 .</li><li>Net Cash Provided by (Used in) Investing Activities: This was -$184,136 thousand in Q1 2026, compared to -$323,665 thousand in Q1 2025 .</li><li>Net Cash Provided by (Used in) Financing Activities: This was $174,353 thousand in Q1 2026, compared to $294,275 thousand in Q1 2025 .</li><li>Adjusted Cash from Operations plus Other Portfolio Collections (Non-GAAP): This metric was $234,584 thousand for the three months ended March 31, 2026 .</li></ul><h4>Unique Metrics</h4><ul><li>Managed Assets: Total Managed Assets were $16.4 billion as of March 31, 2026, up from $16.1 billion as of December 31, 2025. The portfolio included approximately $3.8 billion of Behind-the-Meter (BTM) assets, $2.6 billion of Grid-Connected (GC) assets, and $1.2 billion of Fuels, Transport, and Nature (FTN) assets .</li><li>Portfolio Composition: As of March 31, 2026, 54% of the portfolio consisted of equity method investments, 38% of fixed-rate receivables and debt securities, 6% of floating-rate receivables, and 2% of real estate leased to renewable energy projects .</li><li>Portfolio Yield: Unlevered Portfolio Yield was 9.2% as of March 31, 2026, compared to 8.8% as of December 31, 2025 .</li><li>Average Annual Realized Loss on Managed Assets: This was 0.08% over the ten-year period ending March 31, 2026 .</li><li>Debt to Equity Ratio: The debt to equity ratio was 1.6 to 1 as of March 31, 2026, which is within the target operating range of 1.5 to 1 and 2.0 to 1 .</li><li>Fixed Rate Debt Percentage: The percentage of fixed rate debt, including the impact of interest rate derivatives, was approximately 100% as of March 31, 2026, within the targeted range of 75% to 100% .</li><li>Loan Funding Commitments (Receivables): Commercial loan funding commitments were $253 million as of March 31, 2026, down from $388 million as of December 31, 2025 .</li></ul><h4>Future Outlook and Strategy</h4>HA Sustainable Infrastructure Capital, Inc. is actively exploring additional markets beyond its traditional segments for potential investments. The company has a substantial pipeline of over $6.5 billion in new equity, debt, and real estate opportunities, with 34% related to BTM, 47% to GC, and 14% to FTN assets. The company expects its identified liquidity sources to sufficiently cover short-term and long-term needs, including funding future investments, debt service, operating costs, and stockholder distributions .

HA Sustainable Infrastructure Capital | 10-Q: FY2026 Q1 Revenue: USD 124.23 M