HA Sustainable Infrastructure Capital, Inc. (HASI) Q3 2025 10-Q Quarterly Report
HA Sustainable Infrastructure Capital, Inc. (HASI) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 7, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
HA Sustainable Infrastructure Capital, Inc. Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $103.1M Q3 2025, up 26% YoY from $82.0M; gain on sale income +$17.2M, interest & rental income +$4.8M
- • Operating loss before equity method investments $(5.2)M Q3 2025 vs. $(2.9)M Q3 2024; total expenses $108.2M, +28% YoY
- • Equity method investments income $124.6M Q3 2025 vs. loss $(23.4)M Q3 2024; primary driver of net income $84.9M vs. $(19.2)M
- • Interest expense $71.5M Q3 2025, +20% YoY due to higher debt balance and rates; provision for losses $3.0M, +145% YoY
- • Adjusted Earnings $102.5M Q3 2025 vs. $62.6M Q3 2024; Adjusted Recurring Net Investment Income $105.1M vs. $74.1M YoY
- • Managed Assets increased to $15.0B vs. $13.7B Dec 2024; equity method investments $4.1B vs. $3.6B Dec 2024
- • Net cash from operations $(79.4)M Q3 2025 vs. $18.1M Q3 2024; driven by changes in receivables and equity investment activity
- • Management expects continued contribution from equity investments and stable portfolio yields; notes higher interest expenses and credit loss provisions as key challenges
Risk Factors
- • No new or updated risk factors disclosed this quarter from the most recent 10-K filing
HA Sustainable Infrastructure Capital, Inc. Q3 2025 Quarterly FinancialsXBRL
Revenue
$103M
▲ +25.7% YoY▲ +20.3% QoQ
Net Income
$83M
▲ +524.4% YoY▼ -15.4% QoQ
Net Margin
80.8%
▲ +10471bp YoY▼ -3411bp QoQ
ROE
3.1%
Total Assets
$8.2B
EPS (Diluted)
$0.61
▲ +569.2% YoY▼ -17.6% QoQ
Operating Cash Flow
-$122M
▼ -655.2% YoY▼ -253.1% QoQ
Source: XBRL data from HA Sustainable Infrastructure Capital, Inc. Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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