Altus Power Inc - AMPS STOCK NEWS

Altus Power, Inc. (NYSE: AMPS) reported strong financial results for full year 2023, with revenues reaching $155.2 million, a 53% increase from 2022, and adjusted EBITDA of $93.1 million, a 59% increase from the previous year. The company added 150 enterprise customers, expanded its portfolio by 91% to 896 MW, and completed 74 MW of new-build assets. Altus Power also announced a strategic acquisition with Vitol, closing an 84 MW deal in January 2024. The company expects operating revenues of $200-222 million and adjusted EBITDA of $115-135 million for 2024, showing significant growth projections.

Altus Power (NYSE: AMPS) appoints Robert Bernard, CBRE's Chief Sustainability Officer, to its Board of Directors, replacing Bill Concannon. Bernard's experience aligns with Altus Power's vision to engage large enterprise clients. The partnership with CBRE continues to focus on decarbonizing commercial real estate buildings.

CBRE Group, Inc. (NYSE:CBRE) reported strong Q4 2023 results with GAAP EPS rising to $1.55 and Core EPS to $1.38. However, FY 2023 saw a decline in both GAAP and Core EPS. Revenue increased by 9.2% in Q4 and 3.6% for FY 2023. Net income surged by 487.9% in Q4 but declined for the full year. Cash flow from operations rose by 4.8% in Q4 but decreased significantly for the year. CBRE expects mid-teens percentage growth in core earnings-per-share for 2024.

Altus Power, Inc. (NYSE: AMPS) will report financial results for the full year of 2023 after the closing of the New York Stock Exchange on Thursday, March 14, 2024. The earnings release will be followed by a conference call for investors at 4:30 PM Eastern Time. The call will feature prepared remarks from Lars Norell, Co-Chief Executive Officer, and Dustin Weber, Chief Financial Officer. The prepared remarks will be followed by a question-and-answer session, including Gregg Felton, Co-Chief Executive Officer of Altus Power. The conference call may be accessed via live webcast on a listen-only basis on the Events & Presentations page of the investor section of Altus Power’s website. A replay of the webcast will be available approximately three hours after the call on the Investor section of Altus Power’s website and by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671. The passcode for the replay is 13744424. The telephone replay will remain available for approximately 30 days, and the webcast replay for a full year.

Altus Power (NYSE: AMPS) has announced the acquisition of approximately 84 MWs of commercial-scale solar arrays from Vitol for $118 million. The deal adds thousands of new long-term Community Solar, school district, and other enterprise customers across the Northeast. The clean electric power generated by the new assets will benefit nearly 2,000 Community Solar subscribers, serve 20 municipal, education, and enterprise clients, and result in the carbon avoidance of more than 69,000 metric tons of CO2 annually.

Altus Power (AMPS) co-CEOs and team members to present at industry conferences and investor meetings, highlighting company achievements and expansion plans

Altus Power, Inc. (NYSE: AMPS) announced the closing of a $100 million secured credit facility with Goldman Sachs and CPP Investments. The facility will support ongoing expansion plans with an 8.50% interest rate and a six-year term, prepayable without penalty after three years. Altus Power's CFO and Co-CEO expressed optimism about the company's expected growth and market positioning.

Altus Power, Inc. (NYSE: AMPS) expands its presence in the Southeast through the acquisition of Project Hyperion, LLC, adding 121 megawatts in solar assets primarily in North and South Carolina. The acquisition introduces new government and municipal entities into Altus' portfolio, aiming to reach sustainability goals through clean electric power. Altus Power plans to grow its portfolio to almost 900 MWs by the end of 2023.

Altus Power (NYSE: AMPS) acquires Unico Solar's core business, development platform, and pipeline, expanding its presence on the West Coast. The acquisition aims to supercharge project development for real estate owners and users on a national scale, adding significant local coverage to be closer to nationwide real estate partners and enterprise customers.