Filing Flows › HA Sustainable Infrastructure Capital (HASI) › Q2 2025
HA Sustainable Infrastructure Capital (HASI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
HA Sustainable Infrastructure Capital (HASI) reported revenue of $85.7M for the second quarter 2025 (Q2 2025), -9% from a year earlier and -12% from the quarter before. Operating margin was 161.0%, net earnings $98.4M (114.9% of revenue).
HA Sustainable Infrastructure Capital, Q2 2025: revenue $85.7M (-9% year over year), operating margin 161.0%, net earnings $98.4M, operating cash flow $79.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $85.7M | -12% | -9% |
| Operating profit | $138M | +68% | +270% |
| Net earnings | $98.4M | +74% | +271% |
| Operating cash flow | $79.6M | — | — |
What changed
Revenue was $85.7M in Q2 2025, down 9% year over year and down 12% from the previous quarter.
Operating profit was $138.0M, a 161.0% margin (up 121.5 points year over year). Net earnings were $98.4M, up 271% year over year. The effective tax rate was 27.7%.
Operating cash flow was $79.6M, 80% of net earnings. Non-cash charges added back $251K of depreciation and amortization and $8.4M of share-based compensation. Working capital and other items used $28.9M.
Questions
What was HA Sustainable Infrastructure Capital's revenue in the second quarter 2025?
HA Sustainable Infrastructure Capital (HASI) reported revenue of $85.7M for the second quarter 2025 (Q2 2025), -9% from a year earlier and -12% from the quarter before.
Was HA Sustainable Infrastructure Capital profitable in the second quarter 2025?
Operating profit was $138M (161.0% of revenue) and net earnings $98.4M.
Source: HA Sustainable Infrastructure Capital 10-Q on SEC EDGAR.