ANNAPOLIS, Md. (AP) _ Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) on Tuesday reported first-quarter profit of $45.3 million.
The Annapolis, Maryland-based company said it had net income of 51 cents per share. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The provider of financing for sustainable infrastructure projects posted revenue of $58.5 million in the period. Its adjusted revenue was $31.2 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $29.4 million.