HA Sustainable Infrastructure Capital, Inc. (HASI) reported strong second quarter 2025 results, with net income increasing by $73.00 million, primarily driven by a $131.00 million increase in income from equity method investments. Net income per share for the quarter was $0.74, and adjusted earnings per share was $0.60.
For the first half of 2025, net income increased by $6.00 million, and adjusted recurring net investment income grew an impressive 19% year-over-year to $164 million. The company's portfolio, valued at approximately $7.20 billion as of June 30, 2025, maintained an unlevered yield of 8.30%, with 99% in Performance Category 1.
HASI reaffirmed its guidance for 8% to 10% compound annual adjusted EPS growth through 2027 and increased its quarterly dividend to $0.42 per share, targeting a payout ratio of 55% to 60% by 2027. The company maintained a strong liquidity position of $1.397 billion and a debt-to-equity ratio of 1.80 to 1.00, well within its target range.
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