Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET

Corporate Participants

Aaron Chew - Senior Vice President of Investor Relations
Jeff Lipson - President and Chief Executive Officer
Marc Pangburn - Chief Financial Officer
Susan Nickey - Chief Client Officer

Conference Call Participants

Noah Kaye - Oppenheimer & Company
Ben Kallo - Baird
Maheep Mandloi - Mizuho
Jeff Osborne - TD Cowen
Ryan Pfingst - B. Riley Securities
Mark Strouse - JPMorgan

Operator

Greetings, and welcome to HASI's Second Quarter 2024 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, Aaron Chew, Senior Vice President of Investor Relations.

Aaron Chew

Thank you, operator, and good afternoon to everyone joining us today for HASI's second quarter conference call.

Earlier this afternoon, HASI distributed a press release reporting our second quarter 2024 results, a copy of which is available on our website along with the slide presentation we will be referring to today. 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.

And today's discussions also include some non-GAAP financial measures, a reconciliation of GAAP to non-GAAP financial measures is available in our earnings release and presentation. Joining me on today's call are Jeff Lipson, the company's President and CEO, Marc Pangburn, the CFO, and Susan Nickey, our Chief Client Officer. Susan will be available for the Q&A portion of our presentation.

Now I'd like to turn the call over to our President and CEO, Jeff Lipson. Jeff?

Jeff Lipson

Thanks, Aaron, and welcome to the team. Thanks, everyone, for joining us today for our second quarter 2024 conference call. I'm going to begin on page three.

The second quarter of 2024 was a terrific quarter for HASI as we achieved two longstanding goals of closing on a co-investment vehicle and procuring a second investment grade rating. We also were able to continue to invest at higher returns and increase our adjusted earnings 19% year-over-year to $0.63. Considering these results and other positive catalysts that I will discuss shortly, we are affirming our guidance for adjusted EPS growth of 8% to 10% from 2024 to 2026 and for a dividend payout ratio of between 60% and 70% in the same period. And a reminder that our long-term goals are 10% annual growth in EPS and a 50% payout ratio by 2030.