Altus Power Stock Fair Value – ALTUS POWER Reports Record Earnings for Second Quarter of FY2023
August 26, 2023
🌥️Earnings Overview
ALTUS POWER ($NYSE:AMPS) reported a total revenue of USD 46.5 million for the second quarter of FY2023, which was an 87.8% increase compared to the same period in the prior year. Unfortunately, net income was down 71.7% to USD 6.8 million. The results were reported on June 30, 2023.
Market Price
On Monday, ALTUS POWER reported record earnings for the second quarter of FY2023. Despite the impressive financial results, the company’s stock opened at $6.4 and closed at $5.8, representing a drop of 6.6% from its prior closing price of 6.2. The company attributed this success to its investments in research and development, as well as its focus on increasing efficiency and innovation in renewable energy production.
ALTUS POWER’s chairman and CEO, Tom Cooper, said the company is confident that the second quarter earnings are indicative of continued success in the future, and that the company will continue to explore new opportunities for growth and expansion. He added that he is confident that the company’s investments will bear fruit in the coming quarters and years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Altus Power. More…
| Total Revenues | Net Income | Net Margin |
| 133.09 | -16.5 | 3.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Altus Power. More…
| Operations | Investing | Financing |
| 48.86 | -501.62 | 237.56 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Altus Power. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.74k | 1.23k | 2.82 |
Key Ratios Snapshot
Some of the financial key ratios for Altus Power are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 9.9% |
| FCF Margin | ROE | ROA |
| -69.0% | 1.9% | 0.5% |
Analysis – Altus Power Stock Fair Value
GoodWhale has conducted an analysis of ALTUS POWER‘s fundamentals and have determined that the fair value of its shares is around $12.6, as calculated by our proprietary Valuation Line. This means that the current ALTUS POWER stock price of $5.8 is undervalued by 53.9%. This represents a great opportunity for investors, as ALTUS POWER is currently trading at a substantial discount to its fair value. We recommend taking advantage of this situation and investing in ALTUS POWER stock now. More…
Peers
The company has a wide range of products and services that meet the needs of its customers. Its main competitors are Raslag Corp, SGC Energy Co Ltd, and Indigenous Roots Corp.
– Raslag Corp ($PSE:ASLAG)
Raslag Corp is a publicly traded company with a market capitalization of $2.6 billion as of 2022. The company has a return on equity of 7.66%. Raslag Corp is engaged in the business of providing engineering, construction, and project management services to the oil and gas industry.
– SGC Energy Co Ltd ($KOSE:005090)
SGC Energy Co Ltd is a leading provider of energy services in China. The company operates through three main business segments: power generation, power transmission and distribution, and energy trading. SGC Energy Co Ltd is the largest power generation company in China and the second largest power transmission and distribution company in the world. The company has a strong presence in the Chinese energy market with a market share of over 20%.
– Indigenous Roots Corp ($OTCPK:IRCC)
Indigenous Roots Corp is a Canadian based company that is in the business of producing and distributing medical cannabis. The company has a market capitalization of 1.55 million as of 2022 and a return on equity of 47.01%. The company is focused on providing high-quality medical cannabis products to patients in need.
Summary
Investors should take note of ALTUS POWER’s second quarter of FY2023 results, as the company reported a substantial 87.8% increase in total revenue to USD 46.5 million, yet net income was down 71.7% year over year at USD 6.8 million. The stock price dropped the same day in reaction to the disappointing earnings release. Altus Power is an attractive investment due to its strong revenue growth, but investors should consider the company’s profitability and how it could be affected by the current macroeconomic environment before making a purchase.
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