Ameresco Inc Stock Price, News & Analysis

Ameresco (NYSE: AMRC) has signed a definitive agreement to acquire ENERQOS Energy Solutions, a Milan-based company specializing in renewable energy and energy efficiency. This strategic acquisition allows Ameresco to enhance its clean energy project portfolio in Italy, expanding its footprint across Europe. ENERQOS, with over 15 years of experience, offers a variety of energy-saving and carbon reduction projects in diverse markets, including healthcare and retail. The acquisition, expected to close in March 2023, positions Ameresco for high-growth opportunities in the European clean energy sector.

Ameresco reported strong financial results for 2022, achieving record revenues of $1.824 billion, up 50% year-over-year, and net income of $94.9 million, up 35%. The fourth quarter saw revenues decline 20% to $331.7 million due to project scheduling changes, but adjusted EBITDA for the year increased 34% to $204.5 million. The company is guiding for a 2023 adjusted EBITDA growth of 5% and reaffirms a $300 million target for 2024. Expansion in Europe continues with new contracts and acquisitions. Despite delays impacting the fourth-quarter results, Ameresco maintains a strong outlook buoyed by favorable market conditions and legislative support.

Ameresco (NYSE: AMRC) has announced that its Chicago Smart Lighting Program (CSLP) has received the Inspiring Efficiency Impact Award from the Midwest Energy Efficiency Alliance. Completed in 2022, CSLP is the largest city-led wireless smart streetlight program in the U.S., aimed at transforming Chicago's street lighting system. The project will save the city approximately $100 million over the next decade by replacing around 280,000 outdated lights with energy-efficient LEDs. This initiative is a significant step toward enhancing public safety and reducing energy consumption while demonstrating effective public-private collaboration.

Ameresco, a leader in renewable energy, has partnered with the City of Alton, Illinois, to develop a 5 MW AC solar array on a closed municipal landfill. This project is expected to generate approximately $1 million in revenue over its lifetime and produce around 10,000 MWh of electricity in the first year, reducing carbon emissions by over 7,000 tons. Spanning 30 years, it aims for a total output of 278,000 MWh and a reduction of 197,000 metric tons of CO2. Construction begins in spring 2023, with completion anticipated by year's end, contributing to Alton’s clean energy goals and local job creation.

Ameresco, Inc. (NYSE:AMRC) will release its fourth quarter and full year 2022 financial results on February 27, 2023, after market close. The earnings press release will be accessible in the Investor Relations section of their website. Following the release, the Company will host a conference call at 4:30 p.m. ET to discuss the financial results and provide supplemental information. Participants can register for the call in advance, with a live webcast also available. Founded in 2000, Ameresco specializes in energy efficiency and renewable energy solutions, serving clients across North America and Europe.

Ameresco (NYSE: AMRC) has been recognized as a finalist in the 2022 S&P Global Platts Global Energy Awards for two categories: Infrastructure Project of the Year and Corporate Impact, Sustained Commitment. The company was acknowledged for its installation of the largest floating solar array in the Southeast at Fort Bragg, part of a $36 million project aimed at enhancing energy resilience. Additionally, Ameresco’s community involvement includes over $172,000 in donations and 2,040 volunteer hours by employees through 2021. Winners will be announced on December 8 in New York City.

Ameresco (NYSE: AMRC) has appointed Lenka Patten as the new Senior Vice President and Chief Human Resources Officer. Patten brings over 20 years of experience in integrated human resource strategies, previously serving at Reebok International and other top firms. In her role, she will align HR processes with Ameresco's strategic goals, focusing on talent acquisition, professional development, and employee engagement. CEO George Sakellaris expressed confidence in Patten’s ability to enhance their workforce as the company continues its clean energy transition.

Ameresco, Inc. (NYSE:AMRC), a clean technology integrator, announced its participation in two key investor events. On November 10, 2022, Doran Hole, the CFO, will present at Baird's Global Industrial Conference in Chicago at 8:30 am CT, followed by investor meetings. On November 15, 2022, Ameresco will host a tour of the largest wastewater treatment biogas-to-RNG facility in Phoenix, starting at 10 a.m. MT, with a lunch and Q&A session to follow. These events highlight Ameresco's commitment to energy efficiency and renewable energy.