HA Sustainable Infrastructure Capital, Inc. (NYSE:HASI) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET
Company Participants
Aaron Chew - Senior Vice President, Investor Relations
Jeff Lipson - President and CEO
Marc Pangburn - Chief Financial Officer
Susan Nickey - Chief Client Officer
Conference Call Participants
Jack Hurley - Mizuho Security
Noah Kaye - Oppenheimer & Company
Tyler Bisset - Goldman Sachs
Operator
Greetings. And welcome to HASI’s Third 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 third quarter conference call. Earlier this afternoon, HASI distributed a press release reporting our third 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 the Investor Relations page of our 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, such as the risk factors section of the company’s Form 10-K and other filings with the SEC. Actual results may differ materially from those listed. Today’s discussion also includes some non-GAAP financial measures. A reconciliation of GAAP and 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; and Marc Pangburn, our CFO; as well as Susan Nickey, our Chief Client Officer, who 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
Thank you, Aaron. And thanks to everyone joining us today for our third quarter 2024 conference call. I’m going to begin on Slide 3. The third quarter of 2024 was another solid quarter for HASI on the key elements that drive our long-term value creation. We’ve closed $1.2 billion of new investments year-to-date as of 9/30, and including an active start to the fourth quarter, new investments are at $1.7 billion year-to-date as of today.
Our managed assets have grown 14% in the last 12 months and now exceed $13 billion. New asset yields have been approximately 10.5% year-to-date, which have increased our overall portfolio yield to 8.1%. And adjusted earnings per share of $0.52 in the quarter has driven our EPS through the first three quarters of 2024 to $1.83, representing 8% growth over the first three quarters of 2023.