Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) Q3 2023 Earnings Conference Call November 2, 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
Mark Strouse - J.P. Morgan
Chris Souther - B. Riley Securities
Ben Kallo - Baird
Julien Dumoulin-Smith - Bank of America
Jon Windham - UBS
Jeff Osborne - Cowen & Company
Operator
Greetings and welcome to HASI’s Third 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, Investor Relations and Corporate Finance. Please go ahead.
Neha Gaddam
Thank you, operator. Good afternoon, everyone and welcome. Earlier this afternoon HASI distributed a press release detailing our third 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. Susan will be available for the QA portion of our presentation.
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, and thank you for joining the call. We had an outstanding quarter as measured by nearly every meaningful metric, and the business remains positioned for future success. Before we discuss the quarter, I'll address an item of recent market perception.
A sentiment has emerged recently which has been weighing heavily on stocks related to the energy transition. This perception assumes renewables and other clean energy sources are no longer economically viable due to the higher costs of capital, driven by the higher for longer outlook for interest rates and that this impact will cause a substantial slowdown in project development and deployment of clean energy. We believe this view is not accurate. In fact, the energy transition is in its early stages and continues to grow on a steady long-term trajectory.