HA Sustainable Infrastructure Capital Inc reported a material Q4 2024 rebound in revenue and profitability, underscoring the company’s exposure to climate infrastructure capital deployments. Revenue for the quarter stood at $187.16 million, up 116.15% year-over-year and 219.60% quarter-over-quarter, supported by a strong gross margin of 67.11% and an EBITDA of $92.39 million. Net income reached $70.09 million with an implied net margin of 37.45%, and earnings per share (basic) of $0.59 with diluted $0.54. The quarterly improvement follows a weaker Q3 2024, where revenue was $58.56 million and the company reported negative EBITDA and operating income, highlighting significant quarterly volatility tied to asset maturities and capital deployment activity.
Despite the solid quarterly profitability, the company maintains a high leverage profile. Long-term debt sits at approximately $4.40 billion with total debt of $4.40 billion and net debt around $4.27 billion. Operating cash flow was negative for the quarter at approximately -$12.20 million, and free cash flow was also negative at -$12.20 million, reflecting ongoing cash flow dynamics driven by investing activities and financing arrangements. Financing activities contributed roughly $289.0 million, while investing activities consumed about $185.3 million, resulting in a net increase in cash of $91.5 million and ending cash of $150.16 million. The balance sheet shows strong liquidity from cash and equivalents of about $129.76 million but a substantial capital base backed by long-term debt, with total assets around $7.08 billion and stockholders’ equity near $2.34 billion.
The company’s current ratio and quick ratio are not reported as conventional numeric values in the data, and there are no available earnings-call transcripts to extract management quotes. Industry peers for 0J2Z.L were not identified in the provided dataset, limiting direct benchmarking. The absence of explicit forward guidance in the data requires reliance on trailing results and implied leverage dynamics to frame the investment thesis.