Ameresco Inc Stock Price, News & Analysis

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.

Ameresco (NYSE:AMRC) announced delays in battery deliveries for its energy storage projects due to COVID-19 lockdowns in China and new transportation safety policies. These delays may impact the timeline for completing projects with Southern California Edison by August 1, 2022. However, Ameresco believes these circumstances qualify as force majeure under their contract, allowing for extensions without penalties. They have secured essential equipment and are preparing construction sites. The company does not anticipate material impact on 2022 results and reaffirms its annual earnings guidance.

Ameresco (NYSE: AMRC) has partnered with Hickam Communities (LLESY) for a $102 million energy conservation project at Hickam Air Force Base in Hawaii. The initiative aims to modernize over 2,500 military housing units, targeting a 30% reduction in energy consumption over 25 years. This project is expected to yield $13 million in annual cost savings to cover improvement and operational costs. Construction is set for completion in early 2025, enhancing energy efficiency and comfort for military families while aligning with sustainability goals.