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HA Sustainable Infrastructure Capital, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenue of $81,965,000, a decrease from $89,851,000 in the same quarter the previous year. This decrease is attributed to a reduction in gain on sale of assets and rental income.
Interest income for the quarter increased to $64,068,000 from $54,295,000 in the previous year, driven by higher average receivable balances.
Total expenses increased to $84,848,000 from $76,091,000, primarily due to higher interest expenses associated with larger average outstanding debt balances.
The company reported a net loss of $19,176,000 for the quarter, compared to a net income of $21,647,000 in the previous year, largely due to a decrease in income from equity method investments.
Income from equity method investments was a loss of $23,405,000, compared to income of $2,759,000 in the previous year, primarily due to mark-to-market losses related to power purchase agreements.
HA Sustainable Infrastructure Capital, Inc. had a working capital of $6,672,524,000 as of September 30, 2024. The company continues to focus on managing its credit risk and interest rate exposure.
The filing details various financial agreements, including an increase in the capacity of the unsecured revolving credit facility to $1.25 billion and the extension of its maturity to April 2028.
HA Sustainable Infrastructure Capital, Inc. does not anticipate cash dividend payments to common stockholders in the near future.
The company identified no material weaknesses in its internal controls over financial reporting.
HA Sustainable Infrastructure Capital, Inc. continues to focus on its strategic partnership with KKR (KKR+0.12%), committing $1 billion to climate solutions projects.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the HA Sustainable Infrastructure Capital Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.