Atlantica Sustainable Infrastructure reports Q4 EPS 2c, consensus (23c)

Reports Q4 revenue $241.3M, consensus $245.84M. The company said, “Production in the renewable energy portfolio increased by 2.6% during 2023 compared with 2022 mainly due to the increase in production in our solar assets in Spain, where solar radiation was higher, and to the contribution from the recently consolidated assets and those that have entered into operation recently. Production also increased in our U.S. solar assets mainly due to higher availability of the storage system at Solana. On the other hand, production in our wind assets in the U.S. decreased due to lower wind resource during 2023. Production also decreased in Kaxu mostly due to the unscheduled outage that started in September 2023. Part of the damage and the business interruption is covered by our insurance property policy, after a 60-day deductible. Our efficient natural gas and heat assets, our water assets and our transmission lines, for which revenue is based on availability, continued at very high levels during 2023.”