Energy and renewable energy projects company Ameresco (NYSE: AMRC) will be reporting earnings this Monday after the bell. Here’s what investors should know.
Ameresco beat analysts’ revenue expectations last quarter, reporting revenues of $515.5 million, up 9.1% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but full-year EBITDA guidance missing analysts’ expectations.
Is Ameresco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ameresco’s revenue to grow 8.9% year on year, improving from the 5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ameresco has a history of exceeding Wall Street’s expectations.
Looking at Ameresco’s peers in the energy products and services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Quanta delivered year-on-year revenue growth of 57.4%, beating analysts’ expectations by 8.8%, and FTAI Infrastructure reported revenues up 55.8%, topping estimates by 12.3%. Quanta traded up 2.3% following the results while FTAI Infrastructure was also up 16.7%.
Read our full analysis of Quanta’s results here and FTAI Infrastructure’s results here.
Investors in the energy products and services segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. Ameresco’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $41.40 (compared to the current share price of $21.64).
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