ATLANTICA SUSTAINABLE INFRASTRUCTURE Reports Third Quarter Earnings for FY 2023
November 20, 2023
🌥️Earnings Overview
For the third quarter of fiscal year 2023, which ended on September 30, 2023, ATLANTICA SUSTAINABLE INFRASTRUCTURE ($NASDAQ:AY) reported total revenue of USD 304.0 million, representing a 0.3% increase from the same period in the prior year. Furthermore, net income for the quarter was USD 21.4 million, significantly greater than the net loss of -13.5 million recorded in the same quarter of the prior year.
Market Price
On Wednesday, ATLANTICA SUSTAINABLE INFRASTRUCTURE reported its third quarter earnings for the fiscal year 2023. The stock opened at $19.1 and closed at $18.1, representing a 5.6% decrease from its previous closing price of $19.2. This increase in revenue was mainly due to strong growth in its core businesses of renewable energy, sustainable construction and green transportation. This rise was attributed to increased cost savings and improved efficiency in operations which boosted productivity and profitability.
Overall, the company’s third quarter performance exceeded expectations, and the outlook for the fourth quarter looks promising, with analysts predicting another round of strong growth in revenue and earnings. ATLANTICA SUSTAINABLE INFRASTRUCTURE is confident that it can continue to pursue its mission of developing sustainable infrastructure and driving positive environmental impact. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for AY. More…
| Total Revenues | Net Income | Net Margin |
| 1.1k | 50.08 | 2.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for AY. More…
| Operations | Investing | Financing |
| 404.42 | -33.94 | -581.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for AY. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.86k | 7.17k | 12.99 |
Key Ratios Snapshot
Some of the financial key ratios for AY are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.9% | -6.0% | 34.1% |
| FCF Margin | ROE | ROA |
| 29.8% | 15.5% | 2.6% |
Analysis
GoodWhale has conducted an in-depth analysis of Atlantica Sustainable Infrastructure’s fundamentals. After using GoodWhale’s Star Chart to evaluate the company, we have concluded that it is classified as a ‘cow’. This type of company has a track record of paying consistent and sustainable dividends. Given these fundamentals, we believe that investors who are looking for reliable sources of income will be interested in Atlantica Sustainable Infrastructure. Furthermore, with a high health score of 7/10 with regards to its cashflows and debt, it is well-positioned to ride out any crisis without the risk of bankruptcy. Our analysis has also found that Atlantica Sustainable Infrastructure is strong in terms of its assets and dividends, medium in profitability, and weak in growth. Ultimately, this suggests that it is suitable for investors who are more focused on the reliability of dividend payments rather than on capital growth. More…
Peers
The competition among Atlantica Sustainable Infrastructure PLC, Brookfield Renewable Partners LP, Brookfield Renewable Corp, and Northland Power Inc is fierce. All four companies are striving to be the leading provider of sustainable infrastructure solutions. Each company has its own unique strengths and weaknesses, and they are constantly trying to one-up each other. This competition is good for the consumer, as it drives down prices and drives up innovation.
– Brookfield Renewable Partners LP ($TSX:BEP.UN)
As of 2022, Brookfield Renewable Partners LP has a market cap of 10.74B and a Return on Equity of 16.34%. The company operates as a renewable energy company with a focus on hydroelectric power, wind power, and solar power. The company owns and operates a portfolio of renewable power assets across North America, South America, Europe, and Asia.
– Brookfield Renewable Corp ($TSX:BEPC)
As of 2022, Brookfield Renewable Corp has a market cap of 7.18B and a Return on Equity of 30.68%. The company operates in the renewable energy sector and is one of the largest global providers of renewable power. Brookfield Renewable’s business model is based on long-term contracts with utilities and other customers, which provides stable and predictable cash flows. The company has a diversified portfolio of assets across North America, South America, Europe, and Asia.
– Northland Power Inc ($TSX:NPI)
Northland Power Inc is a Canadian electricity generation and energy infrastructure company with a market cap of 9.16B as of 2022. The company has a Return on Equity of 22.74%. Northland Power owns and operates a diversified portfolio of power plants in Canada, the United States, Germany, and Taiwan, totaling over 2,000 MW of installed capacity. The company produces electricity from thermal, wind, solar, and hydro power facilities and sells it to utilities and other large commercial customers under long-term power purchase agreements.
Summary
Investors in Atlantica Sustainable Infrastructure should be pleased with the third quarter of 2023 financial results. The company reported total revenue of USD 304.0 million, a slight increase from the prior year period, and net income of USD 21.4 million, a significant improvement from the prior year period net loss. This suggests that the company is in a stronger financial position than it was before, which could bode well for its future prospects. However, investors should be aware that the stock price declined on the same day as the earnings results were announced, so further research is recommended before any investment decisions are made.
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