AMPS - Why Shares of Altus Power Are Charging Higher Today
2023-03-30 11:40:57 ET
Shining brightly in investors' eyes, shares of Altus Power (NYSE: AMPS) are soaring today after the solar utility stock reported strong fourth-quarter 2022 earnings and provided 2023 guidance.
As of 10:54 a.m. ET, shares of Altus Power are up 8.2%, having retreated from their earlier climb of 24.3%.
From the top to the bottom of the income statement, investors are finding a lot to celebrate in Altus Power's most recent earnings report. In Q4 2022, Altus reported a 24% year-over-year increase in operating revenue, thanks, in large part, to the company's growing asset base, which expanded from locations in 18 states at the end of 2021 to 24 states at the end of 2022.
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Why Shares of Altus Power Are Charging Higher Today