Ameresco Inc Stock Price, News & Analysis

Ameresco (NYSE:AMRC) has announced a partnership with the City of Seabrook, Texas, to install over 4,100 water meters as part of a smart metering infrastructure improvement project. This initiative aims to replace aging equipment, enhance meter accuracy, and is expected to save the city more than $50,000 annually. The upgrades will not only reduce operational costs but also improve customer service and IT infrastructure support. Construction is scheduled for completion by the end of 2021, with a new customer portal launching in spring 2022.

Ameresco, (NYSE: AMRC) has been awarded a prime contract by Naval Facilities Command Mid-Atlantic for a construction contract vehicle valued at $950 million over 5 years. This will support projects in the Hampton Roads region of Virginia, enhancing infrastructure for Navy facilities. Previously, Ameresco executed over $200 million in energy projects for NAVFAC MIDLANT. The contract indicates an expansion of Ameresco’s services into design-build construction, reinforcing its partnership with the Navy.

Ameresco has partnered with Tarleton State University to launch an energy and water conservation project. This initiative aims for a 21-23% reduction in electricity and a nearly 33% decrease in water consumption annually. Funded through generated utility savings, improvements will include LED lighting, water fixture upgrades, and HVAC system replacements. Project construction began in June 2021 and is scheduled for completion by June 2022. Ameresco has previously collaborated on nine other projects within the Texas A&M University System.

Ameresco, Inc. (NYSE: AMRC) has announced a joint venture with Hannah Solar Government Services (HSGS), a Service-Disabled Veteran-Owned Small Business. The partnership is part of the SBA Mentor Protégé Program, aimed at helping small businesses secure government contracts. This venture will leverage HSGS's previous collaborations with Ameresco on projects for the Department of Veterans Affairs and other federal agencies. The aim is to enhance cleantech solutions to support energy efficiency across government sectors.

Ameresco (NYSE: AMRC) has partnered with the City of Bellmead, Texas, to enhance the city's smart metering infrastructure. The project will involve replacing 3,797 water meters and implementing an advanced metering infrastructure (AMI) system, aimed at improving billing accuracy and operational efficiency. This initiative is expected to boost water and sewer billing revenues while providing residents with access to their utility consumption data via a web portal. Completion of the project is anticipated in early 2022.

Ameresco, Inc. (NYSE:AMRC) announced that its Senior VP and CFO, Doran Hole, will participate in a fireside chat at the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021, at 1:00 PM ET. This event will include virtual investor meetings throughout the day. Interested parties can access the webcast at this link. Founded in 2000, Ameresco specializes in energy efficiency and renewable energy solutions, supporting clients in their pursuit of Net Zero.

Ameresco (NYSE:AMRC) reported robust financial results for Q2 2021, with total revenue rising 23% to $273.9 million, supported by growth across all business lines. Operating income surged 66% to $21.4 million, while net income reached $13.7 million with a GAAP EPS of $0.26. The company expanded its Energy Assets portfolio by 33 MWe, reflecting a shift towards high-margin recurring revenue streams. With a stable project backlog of $2.2 billion and positive outlook for future growth, Ameresco reaffirmed its 2021 revenue guidance of $1.11-$1.16 billion and Non-GAAP EPS growth of 20%.

Ameresco, Inc. (NYSE: AMRC) has successfully completed a £1.1 million solar PV project for the U.K. Ministry of Justice, providing energy savings of 427,602 kWh annually, equivalent to a carbon reduction of 106.2 tonnes. The project, which began construction in December 2020, involved the installation of rooftop solar at seven courts and three prisons, ensuring no disruption to operations during the pandemic backlog. Ameresco will provide 12 months of operations and maintenance support, aligning with the Ministry's sustainability goals to decarbonize federal buildings.