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Atlantica Sustainable Infrastructure plc (NASDAQ:AY) shares are trading lower after it reported fourth-quarter FY23 results.
Revenue of $241.3 million, missing the consensus of $245.8 million. Operating profit declined to $50.5 million from $58.7 million a year ago.
Adjusted EBITDA increased to $167.6 million from $166.5 million the prior year. EPS of $0.02, beating the consensus loss of $(0.23).
Operating cash flow stood at $388.0 million in 2023 vs. $586.3 million in 2022. Cash Available for distribution (CAFD) for the quarter fell to $51.6 million from $58.9 million the prior year.
In 2023, the company had renewable energy of 2,171MW in operation and produced 5,458GWh and Efficient natural gas & heat of 398MW in operation and produced 2,549GWh.
Dividend: The Board of Directors approved a dividend per share of $0.445, payable on March 22, 2024, to shareholders of record as of March 12, 2024.
As of December 31, 2023, cash at Atlantica’s corporate level was $33.0 million, and net project debt stood at $3.9 billion.
FY24 Outlook: Atlantica expects adjusted EBITDA of $800 million-$850 million and CAFD of $220 million-$270 million.
Price Action: AY shares are trading lower by 1.17% at $17.75 on the last check Friday.
Posted In: AY
