Altus Power Inc reports results for the quarter ended in June - Earnings Summary

Altus Power

09/08/2024 12:45

* Altus Power Inc  AMPS.N  reported quarterly adjusted
earnings of
24 cents​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of 4
cents.  The mean expectation of nine analysts for the quarter
was for earnings of 3 cents per share. Wall Street expected
results to range from -3 cents to 10 cents per share.
    * Revenue rose 12.8% to $52.46 million from a year ago;
analysts
expected $57.07 million. 
    * Altus Power Inc's reported EPS for the quarter was 23
cents​.
    * The company reported quarterly net income of $37.65
million.
    * Altus Power Inc shares had fallen by 9.9% this quarter and
lost 48.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 98.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electric
utilities
peer group is also "buy"

Wall Street's median 12-month price target for Altus Power Inc
is $6.25 
This summary was machine generated from LSEG data August 9 at
11:45 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       0.03           0.24           Beat
 Mar. 31 2024      -0.07          0.05           Beat
 Dec. 31 2023      -0.01          -0.17          Missed
 Sep. 30 2023      0.04           0.03           Missed