Altus Power

Altus Power, Inc. operates as a clean electrification company. Its offers solar generation, energy storage and EV-charging services. The company was founded on September 4, 2013 and is headquartered in Greenwich, CT.

Earnings data Q4 2021

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Altus Power reports record revenue, eyes growth in Community Solar

Altus Power's strong financial performance in 2022 and optimistic 2023 guidance reflect its focus on growth and profitability.
While facing debt challenges, the company's strategic approach to capital utilization and market positioning presents opportunities for expansion.
The emphasis on Community Solar initiatives and customer relationships aligns with Altus Power's commitment to sustainable growth and community impact.

Altus Power reports robust Q1 earnings, eyes growth in Community Solar

Altus Power's strong financial performance, focus on Community Solar projects, and strategic partnerships position it well for growth and profitability.
While facing challenges related to adder alignment and supply chain management, the company is optimistic about upcoming opportunities in the domestic module market.
By emphasizing project completion targets and growth strategies, Altus Power demonstrates a proactive approach to driving success in the renewable energy sector.

Altus Power excels in Q2, poised for renewable energy growth

Altus Power's strong financial performance, strategic growth initiatives, and market leadership position it well for continued success in the renewable energy sector. The company's focus on expanding its solar portfolio, leveraging acquisitions, and navigating market challenges demonstrates resilience and adaptability.
While facing potential challenges in a competitive landscape and operational complexities, Altus Power has opportunities to capitalize on market trends, innovation, and sustainable energy solutions. By staying agile and proactive, the company can further solidify its position as a key player in the renewable energy industry.

Altus Power reports robust Q3 earnings, eyes growth opportunities

Altus Power's Q3 performance was strong, meeting financial targets and showcasing resilience despite weather impacts, with plans for significant growth ahead.
Strategic acquisitions, like the 121-megawatt portfolio, and the introduction of Altus IQ, offer competitive advantages and opportunities for monetization and market expansion.
While challenges like weather sensitivity persist, Altus Power's diversified portfolio and growth initiatives position them well to capitalize on opportunities in Community Solar and software services.

Altus Power projects strong 2024 growth amidst challenges and opportunities

Altus Power projects 2024 revenue of $200-222 million and adjusted EBITDA of $115-135 million. They are expanding workforce, investing in technical operations, and diversifying the portfolio across 25 states to mitigate variability factors.

Altus Power excels in Q3 2024, reaffirms guidance amidst market inquiries

Altus Power's Q3 2024 earnings call highlights robust financial performance, market leadership in solar, and strategic initiatives to drive long-term growth. Analyst inquiries focus on project completion, revenue guidance factors, and potential impacts of external factors on the business.

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Altus Power, Inc. is a clean electrification company, which engages in the development, ownership, construction, and operation of roof, ground, and carport-based photovoltaic solar energy generation and storage systems. The company was founded on September 4, 2013 and is headquartered in Greenwich, CT.

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner, and operator of commercial-scale solar facilities, today announced completion of the development and construction of a 1.5 megawatt (MW) car canopy solar array in Mount Laurel, New Jersey. Altus Power will provide clean energy to a non-profit corporation that provides programs and services to individuals with mental and physical disabilities. The completio.

Altus Power, Inc. Announces Completion of New Asset in Mount Laurel, New Jersey

Altus Power, Inc. (NYSE:AMPS ) Q1 2023 Earnings Conference Call May 15, 2023 8:30 AM ET Company Participants Chris Shelton - Head of Investor Relations Gregg Felton - Co-Founder & Co-Chief Executive Officer, Altus Power Dustin Weber - Chief Financial Officer Lars Norell - Co-Founder & Co-Chief Executive Officer, Altus Conference Call Participants James West - Evercore ISI Andrew Percoco - Morgan Stanley Justin Clare - ROTH MKM Christopher Souther - B. Riley Jon Windham - UBS Operator Good morning, and welcome to Altus Power First Quarter 2023 Conference Call.

Altus Power, Inc. (AMPS) Q1 2023 Earnings Call Transcript

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), the premier independent commercial-scale clean electrification company, today announced its financial results for the first quarter of 2023. “We are seeing an increased construction cadence as our engineering and construction teams overcome elongated permitting and interconnection timelines; we're pleased to welcome these new assets and the customers they serve into our portfolio," commented Lars.

Altus Power, Inc. Announces First Quarter 2023 Financial Results

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner, and operator of commercial-scale solar facilities, today announced that it has entered Maine as its twenty-fifth market in the United States with the completion of development and construction of a 1.4 megawatt (MW) ground-mounted solar array located in the state. Altus Power is looking forward to serving additional customers with discounted clean electric.

Altus Power, Inc. Announces Expansion into Maine with Completion of Newly Constructed Asset

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner, and operator of commercial-scale solar facilities, today announced that it has increased its presence in the State of Maryland with the completion of development and construction of a 2.5 megawatt (MW) ground-mounted solar array located in Garrett County. Altus Power has served enterprises, high schools and colleges in the State of Maryland with clean elec.

Altus Power, Inc. Evidences its Growing Footprint in Maryland with the Completion of a 2.5 Megawatt Solar Array

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) today announced that it will report financial results for the first quarter of 2023 before the opening of the New York Stock Exchange on Monday, May 15, 2023. The earnings release will be followed by a conference call for investors at 8:30 AM Eastern Time the same day. The call will feature prepared remarks from Gregg Felton, Co-Chief Executive Officer and Dustin Weber, Chief Financial Officer. The prepared remarks will be followe.

Altus Power, Inc. Announces Date for Release of First Quarter 2023 Financial Results and Conference Call

iShares Global Clean Energy ETF

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner, and operator of commercial-scale solar facilities, announced it has been added to the iShares Global Clean Energy ETF (NYSE: ICLN), effective today. The iShares Global Clean Energy ETF seeks to track the investment results of an index composed of global equities in the clean energy sector. “We're pleased our business of serving customers with clean electri.

Altus Power, Inc. Announces Inclusion in the iShares Global Clean Energy ETF

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that, together with one of its construction partners, it has completed development and construction of a four-megawatt ground-mounted solar system located on Hartford Avenue in Providence County, Rhode Island.

Altus Power, Inc. Completes Development and Construction of a Four-Megawatt Solar Project in Rhode Island

Altus Power, Inc. (AMPS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Altus Power, Inc. (AMPS) Surges 5.7%: Is This an Indication of Further Gains?

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), the premier independent commercial-scale clean electrification company, today announced that the Company will participate in the J.P. Morgan Alternative Energy Spotlight Series on Monday, April 17, 2023 at 2:00pm ET. The event is open to the clients of J.P. Morgan Equity Research and interested investors should inquire through their J.P. Morgan salesperson.

Altus Power, Inc. to Present on J.P. Morgan Alternative Energy Spotlight Series

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Altus Power, Inc. (NYSE:AMPS ) Q4 2022 Earnings Conference Call March 30, 2023 8:30 AM ET Company Participants Chris Shelton - Head of Investor Relations Lars Norell - Co-Founder and Co-Chief Executive Officer, Altus Dustin Weber - Chief Financial Officer Gregg Felton - Co-Founder and Co-Chief Executive Officer, Altus Power Conference Call Participants Justin Clare - ROTH MKM Mark Strouse - JPMorgan Christopher Souther - B. Riley Operator Good morning, and welcome to the Altus Power Fourth Quarter and Year End 2022 Conference Call.

Altus Power, Inc. (AMPS) Q4 2022 Earnings Conference Call Transcript

Altus Power reported strong revenue and net income growth in Q4 2022. The company expects year-over-year adjusted EBITDA growth in 2023.

Why Shares of Altus Power Are Charging Higher Today

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), the premier independent commercial-scale clean electrification company, today announced its financial results for fourth quarter and full year 2022. “2022 was another year of significant growth and the team's accomplishments further demonstrated our ability to execute on our plans," commented Lars Norell, Co-CEO of Altus Power.

Altus Power, Inc. Announces Fourth Quarter and Full Year 2022 Financial Results

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STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today updated stakeholders that it has no exposure to Silicon Valley Bank, Signature Bank or First Republic Bank or their affiliates.

Altus Power, Inc. Confirms No Exposure to Silicon Valley Bank, Signature Bank or First Republic Bank

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) today announced that it will report financial results for the full year of 2022 before the opening of the New York Stock Exchange on Thursday, March 30, 2023. The earnings release will be followed by a conference call for investors at 8:30 AM Eastern Time the same day. The call will feature prepared remarks from Lars Norell, Co-Chief Executive Officer and Dustin Weber, Chief Financial Officer.

Altus Power, Inc. Announces Date for Release of Full Year 2022 Financial Results and Conference Call

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that it closed on the acquisition of approximately 220 megawatts (MW) of solar assets, including 207 MW of operating assets and 13 MW of assets under construction. These assets were purchased from True Green Capital Fund III, L.P.

Altus Power, Inc. Announces Closing of 220 MW Portfolio With Funding by Blackstone

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STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power”) (NYSE: AMPS) today announced, in partnership with Blackstone (NYSE: BX) and CBRE (NYSE: CBRE), Altus Power has advanced its Community Solar Partnership Program for large enterprises by offering each company's employees the opportunity to subscribe to the benefits of clean electricity from solar arrays owned and operated by Altus Power.

Altus Power Introduces Community Solar Partnership Program to CBRE and Blackstone Employees across The Northeast

STAMFORD, Conn.--( BUSINESS WIRE )--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced the appointment of Sophia Lee as its Chief Sustainability Officer, in addition to her current role as the Company's Chief Legal Officer.

Altus Power, Inc. Announces the Appointment of Sophia Lee as Chief Sustainability Officer

STAMFORD, Conn.--( BUSINESS WIRE )--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that Diane Brink has joined its Board of Directors. Ms. Brink will additionally chair the Compensation Committee and serve as a member of the Audit Committee.

Altus Power, Inc. Announces Appointment of Diane Brink to Board of Directors

Altus Power has a track record of delivering high-quality, cost-effective solar solutions to its customers. Less volatile than the market and may be a relatively safe investment in my opinion.

Altus Power Shows Renewed Vigor

STAMFORD, Conn.--( BUSINESS WIRE )--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, announced that on December 23, 2022, it refinanced and upsized the term loan facility assumed with the recently executed D.E. Shaw Renewable Investments (DESRI) portfolio. The principal amount of the facility was upsized to $141.3 million consisting of a term loan facility for approximately $125.7 million and letters of credit for approximately $15.6 million. The financing agreement includes an interest rate swap which provides for an effective fixed rate of 4.885% for a term of five years.

Altus Power, Inc. Announces New Financing Agreement To Optimize Recent Acquisition from D.E. Shaw Renewable Investments

STAMFORD, Conn.--( BUSINESS WIRE )--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), a premier independent developer, owner and operator of commercial-scale solar facilities, today announced that it entered a definitive agreement to acquire approximately 220 megawatts (MW) of newly developed and in construction solar assets for approximately $293 million from funds managed by True Green Capital Management LLC (“TGC”). Altus Power and TGC currently expect the transaction will close during first quarter of 2023 upon satisfaction of certain closing conditions. The Company intends to fund the transaction with its long-term funding facility led by Blackstone Structured Finance and cash on hand.

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