Altus Power Swings To Profit In Q2; Reaffirms FY22 Outlook

(RTTNews) - Altus Power, Inc. (AMPS) announced Monday second-quarter net income attributable to Altus of $24.12 million or $0.16 per share, compared to a net loss of $1.19 million or $0.01 per share in the prior-year quarter.

Operating revenues for the quarter increased 41 percent to $24.76 million from $17.61 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.00 per share and revenues of $23.78 million for the second quarter. Analysts' estimates typically exclude special items.

The company also reaffirmed its full year 2022 adjusted EBITDA guidance in the range of $57 million to $63 million.