Ameresco Inc Stock Price, News & Analysis

Ameresco, Inc. (NYSE:AMRC) has announced an amendment and restatement to its senior secured credit facility, increasing the total amount to $495 million. This includes a $262 million increase focused on supporting growth objectives, such as a design-build agreement with Southern California Edison for a 537 MW battery energy storage system. The financing, facilitated by Bank of America, enhances Ameresco's financial capacity for cleantech projects and potential acquisitions.

Ameresco (NYSE: AMRC) has partnered with HGACEnergy to manage its electricity procurement and advisory services in Texas. This collaboration aims to enhance energy solutions for local government entities, ensuring access to reliable, low-cost electricity. Ameresco will take over management of supply contracts and establish relationships with cooperative members, furthering its commitment to energy efficiency in the region. The partnership emphasizes mutual values of service and sustainability, reinforcing Ameresco's role as a leader in renewable energy.

Ameresco, a cleantech integrator, reported strong Q4 2021 results with revenues of $415.9 million, up 32% year-over-year. Net income increased 20% to $28.2 million, while GAAP EPS rose 13% to $0.53. For the full year, revenues reached $1.2 billion (up 18%) and net income grew 30% to $70.5 million. The company ended 2021 with a total project backlog of over $3 billion and is guiding for revenues in 2022 between $1.83 billion and $1.87 billion, indicating strong future growth prospects.

Ameresco, a cleantech leader, announced its participation in a Hydrogen Pilot Project selected by the Building the Clean Hydrogen Economy consortium, aimed at integrating clean hydrogen into heavy transportation between Los Angeles and Phoenix.

This initiative focuses on producing low-carbon hydrogen from renewable natural gas sources. Key consortium members include Bank of America, Walmart, and others. Ameresco's involvement highlights its commitment to advancing hydrogen as a scalable fuel, promoting environmental benefits, and fostering collaboration in clean energy innovations.

Guidehouse has launched the Building the Clean Hydrogen Economy consortium to advance the use of clean hydrogen in the U.S. energy sector. Since fall 2021, over 20 organizations, including Ameresco and AVANGRID, have collaborated on pilot projects aimed at decarbonizing heavy transport and integrating renewables. Key projects involve heavy-duty transport and green ammonia production. The consortium emphasizes scalable business models and partnerships, targeting clean hydrogen demand by 2025-2030.

Ameresco (NYSE: AMRC) recently completed a significant upgrade of approximately 280,000 street light fixtures in the City of Chicago. This initiative, part of the Chicago Smart Lighting Program, is projected to save the city over $100 million in electricity costs over the next ten years. As the primary contractor for the $160 million project, Ameresco replaced about 85% of the city's street lights with energy-efficient smart LEDs, significantly reducing energy consumption by 50-75%.

In addition to financial savings, the project aims to enhance public safety with better lighting.

Ameresco, Inc. (NYSE:AMRC) has announced its first investor day to be held on March 23, 2022, in New York City, starting at 2:30 p.m. ET. The event, initially scheduled for mid-January 2022, was postponed due to the COVID-19 Omicron variant surge. Attendees can expect interactive presentations from the leadership team, focusing on growth opportunities and the company's innovative energy solutions. Ameresco aims to clarify its integrated business model and long-term growth strategies centered around energy efficiency and sustainability.

Ameresco successfully completed an $18.6 million project replacing over 8,000 high-pressure sodium streetlights with energy-efficient LEDs in the Portland Metro area. This initiative, funded by an energy savings performance contract, is expected to reduce carbon emissions by 3,500 metric tons annually. The project, which began in May 2020 and concluded in December 2021, also upgraded lighting in 13 tunnels in ODOT Region 1. The LED lights boast a lifespan of 15-20 years, significantly outlasting traditional lighting.

Ameresco, Inc. (NYSE:AMRC) will release its fourth quarter and full year 2021 financial results on February 28, 2022, after market close. The earnings press release will be accessible via the Company's Investor Relations section on its website, followed by a conference call at 4:30 p.m. ET. Participants can join the call by dialing +1 (877) 359-9508 domestically or +1 (224) 357-2393 internationally, with a passcode of 7944909. A live webcast will also be available online.