I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 120.79 M.
EPS: As of FY2026 Q2, the actual value is USD 0.92, beating the estimate of USD 0.6147.
EBIT: As of FY2026 Q2, the actual value is USD 97.31 M.
Financial Overview
Operational Metrics
- GAAP Net Income (Loss): For the three months ended June 30, GAAP net income was $128,625 thousand in 2026, compared to $98,445 thousand in 2025. For the six months ended June 30, it was $56,659 thousand in 2026, compared to $155,057 thousand in 2025. GAAP net income to controlling stockholders was $129 million in Q2 2026, up from $98 million in Q2 2025.
- Adjusted Earnings: For the three months ended June 30, Adjusted Earnings were $98,716 thousand in 2026, compared to $74,988 thousand in 2025. For the six months ended June 30, Adjusted Earnings were $200,463 thousand in 2026, compared to $153,056 thousand in 2025. Adjusted Earnings in Q2 2026 were $99 million, an increase of $24 million compared to Q2 2025.
- GAAP-based Net Investment Income (Loss): For the three months ended June 30, it was $9,851 thousand in 2026, compared to - $3,317 thousand in 2025. For the six months ended June 30, it was $2,996 thousand in 2026, compared to $5,481 thousand in 2025. GAAP-based net investment income was $10 million in Q2 2026.
- Adjusted Recurring Net Investment Income: For the three months ended June 30, it was $107,024 thousand in 2026, compared to $85,324 thousand in 2025, representing a 26% year-over-year increase. For the six months ended June 30, it was $208,207 thousand in 2026, compared to $163,559 thousand in 2025.
- Total Revenue: Total revenue was $120,790 thousand for Q2 2026, up from $85,685 thousand in Q2 2025. For the six months ended June 30, total revenue was $245,016 thousand in 2026, compared to $182,626 thousand in 2025.
- Total Expenses: Total expenses were $110,946 thousand for Q2 2026, compared to $105,412 thousand in Q2 2025. For the six months ended June 30, total expenses were $260,433 thousand in 2026, compared to $208,258 thousand in 2025.
- Income from Equity Method Investments: Income from equity method investments was $178,912 thousand in Q2 2026, compared to $157,680 thousand in Q2 2025. For the six months ended June 30, it was $99,654 thousand in 2026, compared to $245,667 thousand in 2025.
- Income Tax Expense (Benefit): Income tax expense was - $56,973 thousand in Q2 2026, compared to - $38,158 thousand in Q2 2025. For the six months ended June 30, it was - $26,196 thousand in 2026, compared to - $62,055 thousand in 2025.
- Net Income Attributable to Controlling Stockholders: Net income attributable to controlling stockholders was $128,625 thousand in Q2 2026, compared to $98,445 thousand in Q2 2025. For the six months ended June 30, it was $56,659 thousand in 2026, compared to $155,057 thousand in 2025.
Segment Revenue
- Interest and Rental Income: For the three months ended June 30, interest and rental income was $84,470 thousand in 2026, compared to $67,441 thousand in 2025. For the six months ended June 30, it was $167,159 thousand in 2026, compared to $133,918 thousand in 2025.
- Gain on Sale of Assets: Gain on sale of assets was $15,831 thousand in Q2 2026, compared to $7,829 thousand in Q2 2025. For the six months ended June 30, it was $38,583 thousand in 2026, compared to $26,497 thousand in 2025.
- Management Fees and Retained Interest Income: For the three months ended June 30, management fees and retained interest income was $12,850 thousand in 2026, compared to $8,988 thousand in 2025. For the six months ended June 30, it was $22,581 thousand in 2026, compared to $15,987 thousand in 2025.
- Origination Fee and Other Income: Origination fee and other income was $7,639 thousand in Q2 2026, compared to $1,427 thousand in Q2 2025. For the six months ended June 30, it was $16,693 thousand in 2026, compared to $6,224 thousand in 2025.
Operating Costs
- Interest Expense: Interest expense was $87,469 thousand in Q2 2026, an increase of $8 million compared to $79,746 thousand in Q2 2025. For the six months ended June 30, it was $186,744 thousand in 2026, compared to $144,424 thousand in 2025.
- Provision (Benefit) for Loss on Receivables and Retained Interests in Securitization Trusts: This was - $11,006 thousand in Q2 2026, compared to $1,038 thousand in Q2 2025. For the six months ended June 30, it was - $6,465 thousand in 2026, compared to $4,850 thousand in 2025.
- Compensation and Benefits: Compensation and benefits were $26,513 thousand in Q2 2026, compared to $18,131 thousand in Q2 2025. For the six months ended June 30, it was $62,018 thousand in 2026, compared to $43,110 thousand in 2025.
- General and Administrative: General and administrative expenses were $7,970 thousand in Q2 2026, compared to $6,497 thousand in Q2 2025. For the six months ended June 30, it was $18,136 thousand in 2026, compared to $15,874 thousand in 2025.
Cash Flow
- Net Cash Provided by (Used in) Operating Activities: For the six months ended June 30, net cash provided by operating activities was $83,663 thousand in 2026, compared to $42,450 thousand in 2025.
- Net Cash Provided by (Used in) Investing Activities: For the six months ended June 30, net cash used in investing activities was - $543,348 thousand in 2026, compared to - $384,161 thousand in 2025.
- Net Cash Provided by (Used in) Financing Activities: For the six months ended June 30, net cash provided by financing activities was $595,296 thousand in 2026, compared to $295,361 thousand in 2025.
- Cash and Cash Equivalents: Cash and cash equivalents totaled $249,921 thousand as of June 30, 2026, compared to $110,218 thousand as of December 31, 2025.
- Total Liquidity: Total liquidity was $2.2 billion as of June 30, 2026, including approximately $1.9 billion of unused capacity under the revolving credit facility and commercial paper program.
- Adjusted Cash from Operations plus Other Portfolio Collections: For the six months ended June 30, this was $456,182 thousand in 2026, compared to $241,991 thousand in 2025.
- Cash Available for Reinvestment: For the six months ended June 30, this was $343,525 thousand in 2026, compared to $139,548 thousand in 2025.
Unique Metrics
- Managed Assets: Managed Assets grew 20% year-over-year to $17.6 billion as of June 30, 2026.
- GAAP-Based Portfolio: The GAAP-Based Portfolio was $8,201 million as of June 30, 2026, compared to $7,168 million as of June 30, 2025.
- Portfolio Yield: Portfolio Yield was 9.2% for the three months ended June 30, 2026, compared to 8.2% for the three months ended June 30, 2025.
- Adjusted Return on Equity (ROE): Adjusted ROE increased to 15.2% in Q2 2026, compared to 11.9% in Q2 2025. For the six months ended June 30, it was 15.3% in 2026, compared to 12.3% in 2025.
- Receivables, Net: Receivables, net of allowance, totaled $3,145,473 thousand as of June 30, 2026, compared to $3,280,046 thousand as of December 31, 2025.
- Equity Method Investments: Equity Method Investments were $4,782,318 thousand as of June 30, 2026, an increase of 17% from $4,115,909 thousand as of June 30, 2025.
- Total Debt Outstanding: Total debt outstanding was $5.9 billion at June 30, 2026, compared to $4.7 billion as of June 30, 2025.
- Debt-to-Equity Ratio: The debt-to-equity ratio was 1.7x as of June 30, 2026, within the target range of 1.5x to 2.0x.
- Carbon Emissions Avoided: An estimated 282,000 metric tons of carbon emissions will be avoided annually by transactions closed this quarter, equating to a CarbonCount® score of 0.23 metric tons per $1,000 invested. Total Managed Assets are avoiding approximately 10.4 million metric tons of carbon emissions annually.
Outlook / Guidance
HA Sustainable Infrastructure Capital, Inc. is raising its guidance for Adjusted EPS to a range of $3.55 to $3.65 for 2028, up from a prior range of $3.50 to $3.60. The company maintains its guidance for Adjusted ROE of more than 17% in 2028. Additionally, HA Sustainable Infrastructure Capital, Inc. expects annual dividends per share of common stock to decline to less than 50% of annual Adjusted Earnings per Share by 2028 and less than 40% by 2030.