Ameresco Stock Earnings Reports

Ameresco reported a solid start to 2026 with 14% revenue growth and 20% growth in awarded backlog. Key operational highlights: project revenue rose 16% driven by federal and geographic strength, O&M revenue increased 22%, and energy asset revenue grew 7% despite weather-related RNG disruptions. Backlog expanded to $5.3 billion and long-term O&M backlog exceeded $1.5 billion. Management announced a transformational joint venture (Neogenix Fuels) with HASI: a $400 million commitment ($300M invested in the JV; $100M paid to Ameresco) that creates a 70/30 Ameresco/HASI JV to accelerate biogas/biofuels growth and monetize an implied $1.8 billion enterprise value. Leadership changes include Mike Backus to lead Neogenix Fuels and Nicole Bulgarino and Lou Maltezos named co-presidents of Ameresco’s core business lines. Financials: adjusted EBITDA $40.5M, GAAP net loss $18.3M, unrestricted cash $104M, corporate debt $417M and leverage at 3.2x (below covenant). Guidance: revenues unchanged (Neogenix consolidated); 2026 CapEx expected $300–$350M; expect to place 100–120 MW in service; Q2 adjusted EBITDA $58–$62M and non-GAAP EPS $0.18–$0.23 assuming JV close in Q2. Management emphasized capital flexibility from the transaction to deleverage, invest in growth, pursue strategic M&A, and scale energy infrastructure and building-efficiency opportunities (including data center and federal work).