Financial Performance - 1Q23 Distributable EPS reached $0.53 compared to $0.52 in 1Q22, while GAAP EPS was $0.26[45],[78],[132] - Distributable Net Investment Income (NII) grew to $47.1 million in 1Q23, an 11% increase from $42.5 million in 1Q22[35],[78] - The company affirmed its 2021–2024 guidance of 10%–13% CAGR for Distributable EPS and 5%–8% CAGR for dividends per share[49],[104] Portfolio and Investment Growth - The GAAP-based portfolio grew 25% to $4.7 billion in 1Q23 from $3.7 billion in 1Q22[78] - Managed assets increased 15% to $10.4 billion in 1Q23 from $9.0 billion in 1Q22[78] - The company closed $389 million in transactions during 1Q23, the highest first-quarter volume ever, with an average yield exceeding 8%[62],[73] - The investment pipeline is currently valued at over $5 billion, supported by more than 8 asset classes[4],[5],[56] Risk Management and Credit Quality - The portfolio maintains strong credit attributes with 99% of assets performing and cumulative credit losses of less than 20 basis points since 2012[17] - Approximately 87% of the company's debt is fixed-rate, mitigating interest rate risk[110] - The debt-to-equity ratio is 2.0x, remaining below the target limit of 2.5x[68]
Hannon Armstrong Sustainable Infrastructure Capital(HASI) - 2023 Q1 - Earnings Call Presentation