EarningsQ1 2026 Earnings Report
MX:HASI1 Q1 2026 EPS Results
Actual EPS$14.18
Consensus EPS$12.69
Beat/MissBeat by +$1.49
One Year Ago EPS$11.79
MX:HASI1 Q1 2026 Revenue Results
Actual Revenue$2.29B
Expected Revenue$2.07B
Beat/MissBeat by +$220.68M
YoY Revenue Growth+28.15%
Earnings Announcement Details
QuarterQ1 2026
Date05/07/2026
TimeAfter Close
Conference CallThursday, May 7, 2026
MX:HASI1 Upcoming Earnings
HASI's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
MX:HASI1 Q1 2026 Earnings Call
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Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The earnings call conveyed a predominantly positive picture: strong growth in adjusted earnings, record quarterly ROE, sizable increases in recurring investment income and managed assets, high portfolio yields, a large pipeline, and active balance sheet optimization (longer maturities and available liquidity). Management acknowledged industry-wide risks—geopolitical volatility, tax-equity rule uncertainty, variability in gain-on-sale, and a small project technical issue—but characterized these as manageable and largely within underwriting expectations. The company further advanced strategic initiatives including a $400M JV investment (Neogenix) and continued expansion of fee-generating assets, while minimizing equity issuance in the quarter.Company Guidance
Record and Growing Profitability
Adjusted EPS of $0.77 in Q1 2026 (up from $0.64 YoY) and adjusted earnings of $102 million (management noted a 31% increase YoY). Adjusted ROE reached 15.7%, the highest quarterly level in company history (up from 12.8% YoY).
Recurring Investment Income Expansion
Adjusted recurring net investment income grew 29% year-over-year to $101 million, representing a larger and growing component of overall earnings.
Managed Assets and Fee-Generating Growth
Managed assets increased 13% YoY to $16.4 billion. Fee-generating assets rose 130% YoY to $1.1 billion, and CCH1 assets (50% equity held) are $2.3 billion.
Strong Portfolio Yields and New Asset Yields
Portfolio yield increased 90 basis points YoY to 9.2%. New asset yields on portfolio transactions remained above 10.5% for the eighth consecutive quarter.
Robust Investment Activity and Pipeline
Q1 total origination volume was $637 million, with $462 million to be held at CCH1/on the balance sheet. Management reiterated a 12-month pipeline greater than $6.5 billion and remains on pace for the previously stated $2–$3 billion funding expectation for 2026.
Strategic JV Investment with Ameresco (Neogenix)
Entered a joint venture (Neogenix) focused on biofuels/RNG with an initial HA Sustainable Infrastructure Capital, Inc. commitment of $400 million for a 30% equity stake. Initial operating project funding ~ $100 million with $300 million planned for future development; management expects long-term returns higher than typical investments.
Balance Sheet and Funding Optimization
Issued $1.0 billion of bonds (a $400M senior at 6% and $600M junior at 7.125%), used proceeds to retire $450M of 8% senior debt due 2027, extended weighted-average corporate term debt maturity from 7.9 to 12.8 years, and reported $2.3 billion of available liquidity. No ATM share issuances in the quarter and minimal equity issuance expected in 2026 under current funding plans.
Strong Credit Performance Metrics
Average annual realized loss rate remains very low at less than 10 basis points and portfolio diversification characterized by multi-project, uncorrelated cash flows.
MX:HASI1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed