AMRC
Ameresco, Inc.29.60
-0.05-0.17%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Data centers pipeline overflows; Europe accelerates
Q&A largely reaffirmed scripted momentum into 2026 but unpacked data center pipeline strength—more requests than Ameresco can handle—while emphasizing derisking via engineering and permitting before backlog adds. Europe details emerged: SUNEL JV's Romania wins fuel solar and BESS growth, with opportunistic acquisitions eyed. Weather hit Q1 RNG assets irrecoverably, yet guidance holds; tariffs get contract protections. Margins rise from project discipline and larger infra mix. Data centers demand speed to power. Investors track backlog conversion and Europe ramp.
Key Stats
Market Cap
1.56BP/E (TTM)
24.87Basic EPS (TTM)
1.19Dividend Yield
0%Recent Filings
8-K
Leadership shakeup, term loan upsized
Ameresco boosted its term loan by $45 million to $140 million on March 30, 2026, via Amendment No. 2, using most proceeds to clear the revolver balance while keeping the $225 million facility intact through 2028. Effective April 1, leadership shifted: Nicole Bulgarino and Lou Maltezos named co-presidents, Peter Christakis COO; CEO Sakellaris steps back from president role. Internal veterans sharpen operations. Guarantees and collateral unchanged.
10-K
FY2025 results
Ameresco posted FY2025 revenues of $1.93B, up 9.2% y/y, driven by Europe projects surging 111% to $529M while U.S. Federal dipped 21% on project timing. Gross margins expanded to 15.7% from better mix, fueling operating income growth to $123M (up 13%). Q4 momentum showed in Europe acceleration, but asset impairments hit $3.7M from equipment failures. Energy assets grew to 2.08B carrying value with $838MWe capacity; debt stood at $1.94B including $1.2B project-specific. No annual guidance disclosed. Government contract provisions risk quarterly momentum.
8-K
Q4 revenue up 9%, backlog $5B
Ameresco posted Q4 revenue of $581M, up 9% year-over-year, with full-year 2025 at $1.93B and adjusted EBITDA $237M. Project backlog hit $5B while total revenue visibility topped $10B, fueled by 121 MWe assets placed in service. Guides 2026 revenue $2.0-2.2B, adjusted EBITDA $270-295M. Backlog powers growth.
10-Q
Q3 FY2025 results
Ameresco posted Q3 revenues of $526M, up 5% y/y, with gross profit climbing 9.3% to $84M on a favorable project mix while gross margin expanded to 16.0%. Operating income rose 20.5% y/y to $42M, driving diluted EPS of $0.35 (up from $0.33), reconciled to 53M shares. Europe surged 174% y/y on joint venture projects in Greece and Romania, offsetting U.S. Federal softness; energy assets grew steadily. Cash fell to $95M amid heavy capex, but $27M revolver availability persists post-Jan 2025 refinancing; total debt hit $1.9B with project financings. Acquired ASA Controls in Jan 2025 for $4.6M cash, adding $1.6M goodwill. Supply chain disruptions pose ongoing risks.
8-K
Q3 revenues up 5%, EBITDA 13%
Ameresco posted Q3 revenues of $526M, up 5% year-over-year, with adjusted EBITDA surging 13% to $70.4M on operating leverage. Total project backlog hit $5.1B, bolstering visibility. Backlog exceeds $5 billion. Company reaffirmed 2025 guidance amid robust energy infrastructure demand, though prolonged government shutdown poses revenue timing risk.
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