Hannon Armstrong (HASI) Q4 EPS Loss Tests Bullish Growth And Valuation Narratives

Hannon Armstrong (HASI) reported a Q4 basic EPS loss of US$0.43, contrasting with a trailing twelve-month basic EPS of US$1.50 and exhibiting choppy quarterly earnings performance. Despite strong long-term growth forecasts for revenue and earnings, the Q4 loss highlights potential unevenness in actual earnings due to project timing and financing costs. While HASI trades at a discount to its DCF fair value, its P/E ratio is higher than the industry average, and free cash flow does not comfortably cover its dividend, raising concerns for some investors.