--- title: "HA Sustainable Infrastructure Capital | 8-K: FY2026 Q2 Revenue: USD 120.79 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/295153317.md" datetime: "2026-08-06T22:42:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295153317.md) - [en](https://longbridge.com/en/news/295153317.md) - [zh-HK](https://longbridge.com/zh-HK/news/295153317.md) generator: "portal-rs" --- # HA Sustainable Infrastructure Capital | 8-K: FY2026 Q2 Revenue: USD 120.79 M 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. ### Related Stocks - [HASI.US](https://longbridge.com/en/quote/HASI.US.md) ## Related News & Research - [UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 1,530,079 Shares of HA Sustainable Infrastructure Capital, Inc. $HASI](https://longbridge.com/en/news/297887958.md) - [UBS downgrades HASI (HASI) to a Hold](https://longbridge.com/en/news/298015292.md) - [Analysts Offer Insights on Financial Companies: TransUnion (TRU) and Tradeweb Markets (TW)](https://longbridge.com/en/news/298102265.md) - [Corient Private Wealth LP Makes New $7.52 Million Investment in TransUnion $TRU](https://longbridge.com/en/news/297479814.md) - [HA Sustainable Infrastructure launches private offering of green senior unsecured notes; $16.4B managed assets](https://longbridge.com/en/news/289787149.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**