Company Overview - Altus Power, Inc. (AMPS) is part of the Oils-Energy sector, which includes 247 companies and is currently ranked 7 in the Zacks Sector Rank [2] - The company has a Zacks Rank of 2 (Buy), indicating a favorable earnings outlook [3] Performance Metrics - Altus Power, Inc. has returned approximately 21.4% year-to-date, significantly outperforming the average return of 4.5% for Oils-Energy companies [4] - The Zacks Consensus Estimate for AMPS' full-year earnings has increased by 2.1% over the past quarter, reflecting improved analyst sentiment [4] Industry Comparison - Altus Power, Inc. belongs to the Alternative Energy - Other industry, which consists of 47 companies and is currently ranked 82 in the Zacks Industry Rank [6] - The Alternative Energy - Other industry has gained about 2.7% year-to-date, indicating that AMPS is performing better than its industry peers [6] Competitor Analysis - Magnolia Oil & Gas Corp (MGY), another stock in the Oils-Energy sector, has a year-to-date return of 8.3% and also holds a Zacks Rank of 2 (Buy) [5] - The Oil and Gas - Exploration and Production - United States industry, to which Magnolia belongs, has declined by 17.4% year-to-date, highlighting the relative strength of AMPS [7]

Core Viewpoint - Altus Power, Inc. reported a quarterly loss of $0.32 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.04, marking an earnings surprise of -700% [1] Financial Performance - The company posted revenues of $44.47 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 4.48%, but showing an increase from $34.19 million year-over-year [2] - Over the last four quarters, Altus Power has surpassed consensus EPS estimates two times [2] Stock Performance - Altus Power shares have increased approximately 21.6% since the beginning of the year, contrasting with a -4.1% decline in the S&P 500 [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at -$0.07 for the coming quarter and -$0.10 for the current fiscal year [4][7] - The estimate revisions trend for Altus Power is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Alternative Energy - Other industry, to which Altus Power belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-39798 Altus Power, Inc. (Exact name of registrant as specified in its charter) Indicate by check mark if the registrant is a well-known s ...

Financial Performance - Fourth quarter 2024 operating revenues totaled $44.5 million, a 30% increase from $34.2 million in the same period of 2023[4] - Full year 2024 operating revenues reached $196.3 million, representing a 26% increase compared to $155.2 million in 2023[9] - Fourth quarter 2024 GAAP net loss was $56.5 million, compared to a net loss of $40.0 million in the same period last year[5] - Full year 2024 GAAP net loss totaled $10.7 million, an improvement from a net loss of $26.0 million in 2023[7] - Adjusted EBITDA for the fourth quarter of 2024 was $23.8 million, a 37% increase from $17.3 million in the fourth quarter of 2023[6] - Full year 2024 adjusted EBITDA amounted to $111.6 million, a 20% increase compared to $93.1 million in 2023[8] - Operating revenues for Q4 2024 were $44,465,000, a 30% increase from $34,192,000 in Q4 2023[35] - Net loss attributable to Altus Power, Inc. for Q4 2024 was $61,469,000, compared to a net loss of $27,127,000 in Q4 2023[35] - Adjusted EBITDA for the year ended December 31, 2024, was $111,621 thousand, an increase from $93,073 thousand in 2023[43] - Operating revenues for the year ended December 31, 2024, reached $196,265 thousand, up from $155,162 thousand in 2023[43] Cash and Assets - The company ended 2024 with a cash balance of $123 million[9] - Cash and cash equivalents decreased to $104,902,000 as of December 31, 2024, down from $160,817,000 as of December 31, 2023[37] - Total assets increased to $2,348,963,000 as of December 31, 2024, compared to $2,090,349,000 as of December 31, 2023[37] - Long-term debt, net of unamortized debt issuance costs, was $1,192,379,000 as of December 31, 2024, compared to $1,163,307,000 in 2023[37] - Net cash provided by operating activities for the year ended December 31, 2024, was $40,348,000, down from $79,357,000 in 2023[40] - Capital expenditures for the year ended December 31, 2024, were $93,705,000, compared to $117,791,000 in 2023[40] Operational Highlights - The company surpassed 1 GW in operating assets and completed approximately 56 MW of new-build assets while adding around 96 MW of assets in operation[9] - Altus Power is focused on expanding its solar generation and energy storage capabilities across the nation[32] Mergers and Acquisitions - Altus Power signed a merger agreement with TPG for $5.00 per share, valuing the company at approximately $2.2 billion, including outstanding debt[10] - Due to the pending transaction with TPG, Altus Power will not provide a financial outlook for 2025[11] Expenses and Liabilities - Total operating expenses for Q4 2024 were $45,537,000, compared to $39,550,000 in Q4 2023, reflecting a 15% increase[35] - Interest expense, net for the year ended December 31, 2024, was $69,206 thousand, compared to $47,486 thousand in 2023[43] - Depreciation, amortization, and accretion expense for the year ended December 31, 2024, totaled $68,917 thousand, an increase from $53,627 thousand in 2023[43] - Stock-based compensation expense for the year ended December 31, 2024, was $9,213 thousand, down from $14,984 thousand in 2023[43] - Acquisition and entity formation costs for the year ended December 31, 2024, were $3,665 thousand, compared to $4,508 thousand in 2023[43] - Change in fair value of Alignment Shares liability resulted in a loss of $(41,023) thousand for the year ended December 31, 2024[43] - Loss on disposal of property, plant, and equipment for the year ended December 31, 2024, was $443 thousand, down from $649 thousand in 2023[43] Other Financial Metrics - Adjusted EBITDA margin for the three months ended December 31, 2024, was 53%, compared to 51% in the same period of 2023[43] - Net loss for the three months ended December 31, 2024, was $(56,480) thousand, compared to $(39,964) thousand for the same period in 2023[43] - The company reported a significant increase in accounts receivable, netting $21,808,000 as of December 31, 2024, compared to $17,100,000 in 2023[37]

Core Viewpoint - Kaskela Law LLC is investigating the fairness of the buyout of Altus Power, Inc. by TPG at a price of $5.00 per share, focusing on whether shareholders are receiving adequate consideration for their shares [1][3]. Summary by Sections Buyout Announcement - On February 5, 2025, Altus Power announced its agreement to be acquired by TPG for $5.00 per share in cash, resulting in shareholders being cashed out and the company's shares ceasing to be publicly traded [2]. Investigation Details - The investigation aims to assess if Altus Power's shareholders are receiving sufficient compensation and whether the company's officers or directors violated fiduciary duties or securities laws in agreeing to the buyout price [3]. - Analysts had set price targets for Altus Power's shares above $5.00, with at least one analyst recently targeting $7.00 per share [3]. Shareholder Communication - Altus Power shareholders are encouraged to contact Kaskela Law LLC for information regarding their legal rights and options related to the investigation [4].

Core Viewpoint - The Schall Law Firm is investigating potential breaches of fiduciary duty by the directors and management of Altus Power, Inc. in light of its recent acquisition announcement [1][2]. Group 1: Investigation Details - The investigation aims to determine if the Altus Power board has breached its fiduciary duties to shareholders [2]. - Altus Power announced an agreement to be acquired by TPG for $5.00 per share of its Class A common stock, valuing the company at approximately $2.2 billion, including outstanding debt [2]. Group 2: Shareholder Rights - Shareholders are encouraged to participate in the investigation and can contact the Schall Law Firm for discussions regarding their rights [3].

Core Viewpoint - Kaskela Law LLC is investigating the fairness of the proposed buyout of Altus Power, Inc. by TPG at a price of $5.00 per share, focusing on whether shareholders are receiving adequate consideration for their shares and if there were any breaches of fiduciary duties by the company's officers or directors [1][3]. Group 1: Buyout Details - On February 5, 2025, Altus Power announced an agreement to be acquired by TPG for $5.00 per share in cash, resulting in shareholders being cashed out and the company's shares ceasing to be publicly traded [2]. - The buyout price of $5.00 per share is under scrutiny as several analysts had price targets above this amount, with at least one analyst setting a target of $7.00 per share [3]. Group 2: Legal Investigation - The investigation by Kaskela Law LLC aims to assess the sufficiency of the buyout consideration and to determine if there were any violations of securities laws or fiduciary duties by Altus Power's management [3]. - Shareholders of Altus Power are encouraged to reach out to Kaskela Law LLC for information regarding their legal rights and options related to the investigation [4].

Financial Data and Key Metrics Changes - The company reported its third quarter 2024 earnings, with specific financial performance metrics discussed during the call [3][4]. Business Line Data and Key Metrics Changes - Detailed performance across various business lines was not provided in the available content [3]. Market Data and Key Metrics Changes - Specific market data and key metrics were not disclosed in the provided content [3]. Company Strategy and Development Direction and Industry Competition - The company emphasized its focus on future operations and financial performance, indicating a strategic outlook that may involve expansion and adaptation to market conditions [4][5]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged the presence of risks and uncertainties that could impact future results, highlighting the importance of monitoring these factors [4][5]. Other Important Information - The company issued a press release and presentation related to the earnings call, which are accessible on its website [3]. Q&A Session All Questions and Answers Question: Inquiry about future operations and financial performance - Management discussed forward-looking statements regarding future operations, emphasizing the potential for variability in actual results due to various risks [4].

Investor Presentation November 2024 Cautionary Statements And Risk Factors That May Affect Future Results The following presentation for Altus Power, Inc. ("Altus Power" or the "Company") has been prepared by Altus Power's management. You should read the presentation together with our consolidated financial statements and related notes appearing in our 2023 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 14, 2024 (the "2023 Annual Report on Form 10-K"). Any refere ...

Core Insights - Altus Power, Inc. reported quarterly earnings of $0.11 per share, exceeding the Zacks Consensus Estimate of $0.03 per share, representing an earnings surprise of 266.67% [1] - The company posted revenues of $58.68 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.75%, and showing a year-over-year increase from $45.08 million [2] - Altus Power shares have declined approximately 49.9% year-to-date, contrasting with the S&P 500's gain of 25.8% [3] Earnings Performance - Over the last four quarters, Altus Power has exceeded consensus EPS estimates two times [2] - The company had a previous quarter earnings surprise of 433.33%, with actual earnings of $0.16 per share against an expected $0.03 [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.03 on revenues of $46.76 million, while for the current fiscal year, it is $0.28 on revenues of $198.72 million [7] - The estimate revisions trend for Altus Power is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Alternative Energy - Other industry, to which Altus Power belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Altus Power's stock performance [5]