Hannon Armstrong Sustainable Infrastructure Capital (HASI) stock soared 6.87% in after-hours trading on Thursday, following the release of its fourth-quarter 2024 earnings report. The company reported better-than-expected adjusted earnings per share (EPS) of $0.62, surpassing the consensus estimate of $0.59, although revenue of $101.3 million came in below expectations of $89.3 million.
The strong earnings performance and robust outlook seem to have fueled investor confidence, leading to the significant after-hours rally. In its report, Hannon Armstrong expressed confidence in its strategy, stating, "Our Q4 and FY 2024 results continued to demonstrate the consistency and resilience of our business model." The company also extended its 8%-10% EPS growth outlook to 2027, indicating its positive long-term prospects.
Despite the mixed results, with revenue missing estimates, the market appears to have focused on the company's earnings beat and optimistic forward guidance. Hannon Armstrong's resilience and commitment to sustainable infrastructure projects likely contributed to the positive sentiment surrounding the stock.
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