HA Sustainable Infrastructure Capital reports record adjusted ROE of 15.7% and reaffirms 2028 earnings guidance of $3.50-$3.60 per share.
HA Sustainable Infrastructure Capital (HASI) posted first-quarter adjusted earnings per share of $0.77, up from the prior year, as adjusted recurring net investment income surged 29% to $101 million. Managed assets rose 13% to $16.4 billion, while adjusted return on equity reached a record 15.7%.
The company reaffirmed its 2028 guidance, targeting adjusted EPS of $3.50 to $3.60 and an adjusted ROE of 17%. CEO Jeff Lipson cited volatility in energy and credit markets but emphasized the resilience of renewable energy projects, which offer cost certainty and minimal operating expenses.
Lipson highlighted HASI’s model as providing low-risk, diversified exposure to U.S. energy transition infrastructure, supported by stable project cash flows despite macroeconomic challenges.