Welcome to our dedicated page for Altus Power news (Ticker: AMPS), a resource for investors and traders seeking the latest updates and insights on Altus Power stock.
Altus Power (historically NYSE: AMPS) appears frequently in news coverage as a commercial-scale provider of clean electric power focused on solar electric power generation. Company announcements highlight new rooftop and ground-mounted solar projects, acquisitions of operating and development-stage solar portfolios, and corporate transactions affecting its capital structure and listing status.
News items describe Altus Power originating, developing, owning and operating locally sited solar generation, energy storage and charging infrastructure across the United States. Examples include rooftop solar projects at a large sports facility in Colorado and a distribution center in California, as well as acquisitions of portfolios serving public sector clients and Community Solar subscribers in states such as Kansas, New York and Maryland. These stories often emphasize discounted power relative to utility rates and reductions in carbon emissions over the life of the projects.
Altus Power’s news flow also covers its Community Solar activities, including acquisitions of development-stage community solar projects expected to participate in state programs and serve thousands of subscribers, with specific allocations for low-to-moderate income households. The company’s communications describe Community Solar as providing clean energy savings to homeowners, renters, multifamily residents and small businesses without requiring them to install their own solar panels.
Another major theme in Altus Power’s news is corporate and capital markets activity. The company announced a definitive agreement to be acquired by TPG through its TPG Rise Climate Transition Infrastructure strategy and later reported the completion of this all-cash transaction, after which Altus Power became a privately held company and its Class A common stock ceased trading on the New York Stock Exchange. Financial results releases have included discussions of operating revenues, adjusted EBITDA and portfolio growth in megawatts of operating assets.
Investors and observers using the AMPS news page can review this historical record of project announcements, portfolio acquisitions, Community Solar expansions, financial results and the TPG acquisition to understand how Altus Power developed its commercial-scale solar platform and transitioned from a public to a private company.
Altus Power, Inc. (NYSE: AMPS) has completed a 2.5 MW ground-mounted solar array in Garrett County, Maryland, enhancing its clean energy capacity. This project is expected to generate about 3,500,000 kWhs annually, equating to a reduction of approximately 2,480 metric tons of carbon dioxide emissions. With over 50 MWs of additional solar projects in various stages of development, Altus Power aims to expand its footprint in Maryland, having been active in providing discounted clean electricity since 2011. The Co-CEO, Lars Norell, emphasized the company's commitment to clean energy and overcoming industry challenges.
CBRE Group, Inc. reported Q1 2023 results with GAAP EPS declining 68% to $0.37 and core EPS down 34% to $0.92. Revenue reached $7.411 billion, a slight increase of 1.1% year-over-year. However, net revenue fell 4.5% to $4.181 billion. The company faced a significant drop in property sales, leading to a 70.2% decrease in net income at $117 million. The Global Workplace Solutions segment saw an 11.1% revenue increase, while the Advisory Services segment reported a 17.5% revenue decline. Despite these challenges, CBRE maintains its full-year guidance, expecting core EPS to decline by low-to-mid double digits in 2023 before surpassing previous peaks in 2024. The company highlights resilience in certain business areas and cost management efforts.
Altus Power, Inc. (NYSE: AMPS) will report its financial results for Q1 2023 on May 15, 2023, prior to the opening of the New York Stock Exchange. The earnings release will be followed by a conference call at 8:30 AM ET featuring remarks from Co-CEOs Gregg Felton and Lars Norell, along with CFO Dustin Weber. Investors can access the call via a live webcast on Altus Power’s investor relations webpage. A replay of the call will be available within three hours and will remain accessible for 30 days via phone and for a year through the webcast.
Altus Power caters to a variety of sectors, providing clean electrification through solar energy and storage solutions nationwide. For further information, visit www.altuspower.com.
Altus Power, a leader in commercial-scale solar facilities, announced its inclusion in the iShares Global Clean Energy ETF (NYSE: ICLN), effective immediately. This recognition underscores Altus Power's commitment to clean energy, enhancing its visibility among investors focused on sustainability. The company's leadership believes this inclusion will generate long-term profitable growth while aligning with environmentally-conscious investments.
However, the company cautions that future performance is subject to various risks, including potential acquisition delays and integration challenges. Stakeholders are encouraged to review the 'Risk Factors' in Altus Power's Form 10-K for a comprehensive understanding of the risks involved.
FAQ
What is the current stock price of Altus Power (AMPS)?
What is the market cap of Altus Power (AMPS)?
