Atlantica Sustainable Infrastructure Clocks Mixed Q4 Results, Sets Optimistic FY24 EBITDA And Cash Goals
Portfolio Pulse from Lekha Gupta
Atlantica Sustainable Infrastructure plc (NASDAQ:AY) reported mixed Q4 FY23 results with revenue of $241.3 million missing consensus estimates and a decline in operating profit. However, adjusted EBITDA slightly increased, and EPS beat consensus estimates. The company announced a dividend and provided an optimistic FY24 outlook for adjusted EBITDA and CAFD, despite a decrease in operating cash flow and CAFD from the previous year. Shares fell by 1.17% to $17.75.
March 01, 2024 | 5:24 pm
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Atlantica Sustainable Infrastructure reported mixed Q4 FY23 results, announced a dividend, and provided an optimistic FY24 outlook. Shares dropped by 1.17%.
The mixed Q4 results, with a revenue miss and a decline in operating profit, likely contributed to the short-term negative sentiment among investors, leading to a 1.17% drop in share price. However, the beat on EPS estimates and the optimistic FY24 outlook could provide some support to the stock in the short term. The announcement of a dividend is also positive but may not fully offset the negative impact of the earnings miss and profit decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100