Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET
Company Participants
Neha Gaddam - Senior Director of Investor Relations, Corporate Finance
Jeff Lipson - President, Chief Executive Officer
Marc Pangburn - Chief Financial Officer
Susan Nickey - Chief Client Officer
Conference Call Participants
Noah Kaye - Oppenheimer
Chris Souther - B. Riley
Ben Kallo - Baird
Operator
Greetings and welcome to HASI’s Second Quarter Earnings Conference Call and Webcast. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Neha Gaddam, Senior Director of Investor Relations and Corporate Finance.
Neha Gaddam
Thank you, operator. Good afternoon, everyone and welcome. Earlier this afternoon HASI distributed a press release detailing our second quarter 2023 results, a copy of which is available on our website. This conference call is being webcast live on our Investor Relations' page of the website, where a replay will be available later today.
Some of the comments made in this call are forward-looking statements, which are subject to risks and uncertainties described in the risk factors section of the company's Form 10-K and other filings with the SEC. Actual results may differ materially from those stated. Today's discussions also included some non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is available on our posted earnings release and slide presentation.
Joining me on today's call are Jeff Lipson, the company's President and CEO; Marc Pangburn, CFO; and Susan Nickey, our Chief Client Officer. Now I’d like to turn the call over to Jeff, who will began on Slide 3. Jeff?
Jeff Lipson
Thank you, Neha and good afternoon, everyone. July 2023 is likely to be recognized as the hottest month in history today and 2023 is turning to be the hottest year on record. Unfortunately, climate risk continue to escalate, but these trends also highlight the enormous amount of projects and capital that will be required to mitigate these risks.
In this context, HASI continues to actively engage with our clients, providing capital, industry expertise and efficacy to address these growing challenges. Our business remains uniquely positioned to invest in the increasing number of projects being developed with a climate-positive focus.
As evidence of these trends and our growing opportunity set, I am pleased to announce that our investment volume for the first half of the year is the highest ever at $815 million, including $426 million for the second quarter. This is compared with our highest investment yields ever over the same period with a weighted average yield at 8.5% for balance sheet investments. This combination of larger volumes and higher yields provides significant momentum for the business and for future earnings growth.