HA Sustainable Infrastructure Capital Raises Long-Term Earnings Guidance
The company reported adjusted recurring net investment income of $107 million for the second quarter.
HA Sustainable Infrastructure Capital (HASI) reported a year-over-year increase in adjusted earnings per share for the second quarter ended June 30, 2026. The sustainable infrastructure investment firm saw adjusted EPS rise to $0.75, up from $0.60 in the same period last year.
The result followed a slight sequential decline from the $0.77 adjusted EPS reported in the first quarter of 2026. Adjusted return on equity for the quarter was 15.2%, down from a record 15.7% in the prior quarter.
Growth in the company's asset base continued as managed assets grew 20% year-over-year to $17.6 billion, compared to $14.6 billion as of June 30, 2025. This followed a sequential increase from $16.4 billion as of March 31, 2026. Equity method investments rose 17% year-over-year to $4.8 billion.
Adjusted recurring net investment income rose 26% year-over-year to $107 million, compared to $85 million in the second quarter of 2025. This figure also increased sequentially from $101 million in the first quarter.
Portfolio yield increased to 9.2% from 8.2% a year earlier. The company underwrote new portfolio investment yields at more than 11% during the quarter, an increase from the more than 10.5% recorded in the first quarter.
Rising costs impacted the balance sheet as the weighted average interest cost increased to 6.2% from 5.8% in the prior-year period. This increase was due to the issuance of higher-rate junior subordinated notes.
HA Sustainable Infrastructure Capital raised its 2028 adjusted EPS guidance to a range of $3.55 to $3.65, up from a previous range of $3.50 to $3.60.
In July 2026, the company increased its revolver capacity by $425 million, bringing the total to $2.25 billion.