Altus Power, Inc (AMPS) Tops Q1 EPS, Revenues Miss

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Go back to Altus Power, Inc (AMPS) Tops Q1 EPS, Revenues Miss

Altus Power, Inc. Announces First Quarter 2022 Financial Results

May 16, 2022 7:00 AM EDT

First Quarter Highlights

Operating revenues of $19.2 million for first quarter 2022, an increase of 54% over first quarter 2021 First quarter 2022 GAAP net income of $60.1 million, as compared to first quarter 2021 net income of $0.3 million driven by a $64.8 million non-cash gain from fair value remeasurement of both warrants and alignment shares First quarter 2022 adjusted EBITDA* of $8.8 million, an increase of 38% over first quarter 2021 Unrestricted cash balance of $318.2 million as of March 31, 2022 Reaffirmed full year 2022 adjusted EBITDA* guidance of $57-63 million Announced partnership with Trammell Crow for installation of up to... More