Altus Power, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results
Altus Power, Inc. Class A (AMPS)
Company Research
Source: Business Wire
Full Year 2023 Financial HighlightsFull year 2023 revenues of $155.2 million, a 53% increase compared to full year 2022GAAP net loss of $26.0 million for full year 2023, compared to net income of $52.2 million for full year 2022Adjusted EBITDA* of $93.1 million for full year 2023, a 59% increase compared to full year 2022Net cash provided by operating activities of $79.4 million, a 125% increase over 2022Adjusted EBITDA margin* of 60% for full year 2023, compared to 58% for full year 2022Business HighlightsAdded ~150 enterprise customers, bringing total to over 450Increased portfolio size by 91% to 896 MW during 2023Completed ~74 MW of new-build assets and added ~352 MW of assets in operationLargest owner of commercial scale solar assets in the US1Expanded presence with offices on the West Coast, resulting from our first platform acquisitionApproaching 1 gigawatt portfolio with closing of 84 MW acquisition from Vitol in January 2024Year ending cash balance of $219 million underpins fi
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AMPS
News
- Altus Power, Inc. (NYSE: AMPS) had its price target lowered by analysts at Roth Mkm from $7.00 to $5.00. They now have a "buy" rating on the stock.MarketBeat
- Altus Power, Inc. (NYSE: AMPS) had its price target lowered by analysts at B. Riley from $7.00 to $6.00. They now have a "buy" rating on the stock.MarketBeat
- Altus Power, Inc. (NYSE: AMPS) had its price target lowered by analysts at Evercore ISI from $9.00 to $7.00. They now have an "outperform" rating on the stock.MarketBeat
- Altus Power, Inc. (NYSE: AMPS) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating.MarketBeat
- Altus Power, Inc. (NYSE:AMPS) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
AMPS
Earnings
- 5/9/24 - Beat
AMPS
Sec Filings
- 5/14/24 - Form 8-K
- 5/13/24 - Form DEFA14A
- 5/10/24 - Form 8-K/A
- AMPS's page on the SEC website