Financial Performance - GAAP EPS reached $1.10 for FY20[6], while Distributable EPS grew by 11% year-over-year to $1.55, exceeding previous guidance[7] - The company's portfolio grew by 38% year-over-year, reaching $2.9 billion[7] - Transaction volume for FY20 was $1.9 billion, a 48% increase year-over-year[7] - Distributable Net Investment Income increased to $88 million, a 7% year-over-year growth[6] Guidance and Growth - The company anticipates annual Distributable Earnings per Share to grow at a compound annual rate of 7% to 10% from 2021 to 2023, with a 2023 midpoint of $1.98 per share[7] - Annual dividends per share are expected to grow at a compound annual rate of 3% to 5% from 2021 to 2023, targeting a 2023 midpoint of $1.53 per share[9, 52] - The company's managed assets grew to $7.2 billion[6] Portfolio and Investments - The company's pipeline has grown to over $3 billion[12] - A $663 million preferred equity investment was made with Clearway Energy, Inc for 2.0 GW of grid-connected wind, solar, and solar + storage projects[14] - A $93 million preferred equity investment was made with ENGIE for 70 MW of community and C&I solar + 8 MW collocated storage projects[19] - The portfolio yield remained stable at 7.6%[6, 23] Capital Structure and ESG - The company raised over $1.2 billion in debt and equity in 2020, including $775 million in unsecured green bonds[37] - The company maintains a conservative leverage profile with a debt-to-equity ratio of 1.8x[6, 37] - The company invested $1.9 billion in climate solutions[39]
Hannon Armstrong Sustainable Infrastructure Capital(HASI) - 2020 Q4 - Earnings Call Presentation