Ameresco Inc Stock Price, News & Analysis

Ameresco Inc. (NYSE:AMRC) and Powin LLC have signed a long-term purchasing agreement for the supply of 2,500 MWh of Powin's Stack750 battery energy storage systems. This agreement aims to support Ameresco's project installations through mid-2025, catering to a diverse clientele, including municipal utilities and federal projects. Powin's modular design reduces deployment time and capital costs, enhancing Ameresco's BESS solutions amidst growing demand for energy storage technologies.

HSGS-Ameresco, LLC has secured a $7.9 million contract to design and construct a 1.5 MW solar PV system at the Tooele Army Depot in Utah. This initiative aims to reduce the depot's annual electrical costs. The project marks the first contract for the newly formed joint venture between Hannah Solar Government Services and Ameresco. Construction will commence in summer 2022 and is expected to conclude by fall 2023. Both companies have a history of delivering renewable energy solutions for federal agencies.

Ameresco, Inc. (NYSE:AMRC) will attend key investor conferences to discuss its clean technology initiatives. On May 11, 2022, Doran Hole, Executive Vice President and CFO, will participate in a fireside chat at Citi’s 2022 Global Energy, Utilities and Climate Technology Conference at 1:45 AM ET. A day later, on May 26, 2022, he will present at the B. Riley Securities 22nd Annual Investor Conference at 1:00 PM PT. Ameresco specializes in energy efficiency and renewable energy solutions across North America and Europe.

Ameresco, Inc. (NYSE: AMRC) has completed a comprehensive solar installation at Brophy College Preparatory in Phoenix, Arizona. The project includes 911.25 kW DC of solar power, offsetting approximately 48% of the school's annual electricity usage. This initiative aligns with Brophy's sustainability goals and supports educational programs for students. By utilizing a solar services agreement, Ameresco enhances Brophy's energy efficiency while making significant cost savings over time. The project reflects Ameresco's commitment to sustainability and advancing clean energy initiatives.

Ameresco, Inc. (NYSE: AMRC) has secured a contract from the U.S. Army to install a 6 MW battery energy storage system (BESS) at Fort Detrick, Maryland. This project will enhance the existing 18.6 MW solar facility and is expected to yield annual utility cost savings of $125,000. The BESS will provide demand response and frequency regulation services, contributing to the Army's energy efficiency and resilience goals. Completion is anticipated by early 2023, strengthening Ameresco's long-standing partnership with Fort Detrick since 2015.

Ameresco (NYSE:AMRC) reported record Q1 2022 revenue of $474 million, an 88% increase compared to last year. Net income rose 56% to $17.4 million, with GAAP EPS at $0.32. The company secured over $400 million in new project awards, growing its total project backlog to $3.1 billion. Ameresco reaffirmed its FY 2022 guidance for revenues between $1.83 billion and $1.87 billion and gross margins of 15.5% to 16.5%. Notable projects include a significant contract with the City of Bristol and ongoing work on Southern California Edison BESS projects.

Ameresco, Inc. (NYSE: AMRC) announced the completion of a solar panel project for GSK Consumer Healthcare’s Oak Hill site, aimed at generating over 70% of the site’s annual electricity usage. The project consists of more than 17,000 solar modules and has an estimated capacity of 6.9 MW DC, reducing GSK's carbon footprint by 60%. This marks GSK's 12th solar investment and aligns with its objective to achieve 100% renewable electricity by 2025. The project construction was completed in April 2022, enhancing both companies' sustainability commitments.

Ameresco, Inc. (NYSE:AMRC) has announced it will release its first quarter 2022 financial results on May 2, 2022, after market close. The earnings press release will be accessible on its Investor Relations webpage. Following the release, the company will host a conference call at 4:30 p.m. ET, with access via phone and a live webcast on their website. Ameresco, founded in 2000, specializes in energy efficiency and renewable energy solutions across North America and Europe, employing over 1,000 professionals.