UPDATE: JPMorgan Upgrades Altus Power (AMPS) to Overweight Citing Recent Pullback

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Go back to UPDATE: JPMorgan Upgrades Altus Power (AMPS) to Overweight Citing Recent Pullback

Altus Power, Inc. Announces Third Quarter 2022 Financial Results

November 14, 2022 7:00 AM EST

Third Quarter 2022 Financial Highlights

Revenues of $30.4 million during third quarter 2022, an increase of 51% over third quarter 2021 GAAP net loss of $96.6 million, as compared to third quarter 2021 net loss of $1.3 million driven by a $102.0 million non-cash loss from fair value remeasurement of both warrants and alignment shares Adjusted EBITDA* of $19.4 million, an increase of 66% over third quarter 2021 Adjusted EBITDA margin* of 64% Ending unrestricted cash balance of $290.9 million

Recent Business Highlights

Increased portfolio by approximately 100 MW since second quarter including 88 MW acquired from D.E. Shaw Renewable... More