Altus Power, Inc. (AMPS) Reports Q1 Loss, Tops Revenue Estimates

Core Insights - Altus Power, Inc. reported a quarterly loss of $0.08 per share, matching the Zacks Consensus Estimate, compared to a loss of $0.05 per share a year ago [1] - The company generated revenues of $40.66 million for the quarter ended March 2024, exceeding the Zacks Consensus Estimate by 3.90% and up from $29.38 million year-over-year [1] - Altus Power's stock has declined approximately 34.4% year-to-date, contrasting with the S&P 500's gain of 8.8% [2] Financial Performance - The company has not surpassed consensus EPS estimates over the last four quarters, with a previous expectation of a loss of $0.02 per share turning into an actual loss of $0.04, resulting in a -100% surprise [1] - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $57.01 million, while the estimate for the current fiscal year is -$0.11 on revenues of $213.46 million [4] Market Outlook - The earnings outlook for Altus Power is unfavorable, leading to a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [3] - The Alternative Energy - Other industry, to which Altus Power belongs, is currently in the top 35% of over 250 Zacks industries, suggesting a favorable industry backdrop [4]