Altus Power, Inc. (AMPS) Q3 Earnings and Revenues Surpass Estimates

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$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]