Core Insights - Ameresco, Inc. is celebrating the completion of a renewable natural gas (RNG) facility at the Lee County Landfill in Dixon, IL, marking a significant milestone in their collaboration with Republic Services and U.S. Energy [1] Company Overview - Ameresco, Inc. is a leading energy solutions provider focused on assisting customers in navigating the energy transition [1] - The completed RNG facility is the 15th renewable energy facility developed in partnership with Republic Services [1]

Group 1 - As of September 19, 2025, two stocks in the industrials sector are showing signs of being overbought, which may concern momentum-focused investors [1][2] - The Relative Strength Index (RSI) is a key momentum indicator, with values above 70 indicating that a stock may be overbought [2] - GrafTech International Ltd (EAF) has an RSI value of 70.1, with a recent stock price increase of 5.4% to close at $12.70 [5] - Ameresco Inc (AMRC) has an RSI value of 79.5, with a stock price increase of 7.7% to close at $31.27 [5] Group 2 - GrafTech announced a 1-for-10 reverse stock split and has seen a stock gain of approximately 32% over the past five days, with a 52-week high of $25.30 [5] - Ameresco's stock has gained around 39% over the past month, reaching a 52-week high of $39.68, with third quarter 2025 financial results set to be announced on November 3 [5]

Group 1 - Ameresco secured a contract with Kimberly-Clark to act as the engineering service provider for the U.K.'s first Green Hydrogen Program in the consumer goods sector [4] - The announcement led to a pre-market stock increase of 3.1% for Ameresco [4]

Group 1 - Ameresco, Inc. has secured a contract with Kimberly-Clark UK to act as the Engineering Service Provider for the UK's first Green Hydrogen Program in the consumer goods sector [1] - Kimberly-Clark is recognized for its leading household brands such as Andrex® and Kleenex® [1] - This initiative marks Kimberly-Clark as the first major consumer goods company in the UK to commit to a Green Hydrogen Program [1]

Core Viewpoint - Ameresco, Inc. is set to release its third quarter 2025 financial results on November 3, 2025, after market close, indicating the company's ongoing commitment to transparency and investor communication [1] Financial Results Announcement - The earnings press release will be accessible in the "Investor Relations" section of the company's website, demonstrating the company's focus on providing timely information to stakeholders [1] - An earnings conference call is scheduled for 4:30 p.m. EDT on the same day, allowing investors and analysts to engage directly with company management regarding the financial results [1]

Core Insights - Ameresco, Inc. has successfully completed two integrated design-build projects with Ave Maria University in Florida, marking a significant advancement in the modernization of the University's building infrastructure [1] - The projects aim to upgrade the building automation system, enhancing operational control and safety while supporting future energy needs [1] Company Overview - Ameresco, Inc. is recognized as a leading energy solutions provider focused on assisting customers in navigating the energy transition [1] Project Details - The completion of the projects signifies a commitment to improving the infrastructure and operational efficiency of educational institutions [1]

FRAMINGHAM, Mass. & LEMOORE, Calif.--(BUSINESS WIRE)--In a significant move to advance America's leadership in artificial intelligence and energy dominance, Ameresco, Inc. (NYSE: AMRC), a leading energy solutions provider, today announced plans—alongside the U.S. Navy and CyrusOne—to develop a 100 MW AI-optimized data center and critical energy infrastructure at Naval Air Station (NAS) Lemoore. The state- of-the-art facility will be co-located with dedicated onsite energy generation infrastructu. ...

Group 1 - The industrials sector has been delivering attractive returns in 2025, but Ameresco (NYSE: AMRC) is down -3% year-to-date [1] - The article highlights the author's investment approach, which combines stable, high-conviction holdings with tactical allocation to dynamic assets based on economic cycles and sector momentum [1] - The author expresses a particular interest in the gaming sector, leveraging both professional experience and personal passion [1]

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) This section presents Ameresco's unaudited condensed consolidated financial statements for the periods ended June 30, 2025, along with detailed notes on accounting policies [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of June 30, 2025, shows total assets increased to **$4.30 billion**, total liabilities to **$3.22 billion**, and total stockholders' equity grew to **$1.07 billion** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $1,280,430 | $1,301,134 | | **Energy assets, net** | $2,041,247 | $1,915,311 | | **Total assets** | **$4,295,280** | **$4,158,508** | | **Total current liabilities** | $822,075 | $889,008 | | **Long-term debt and financing lease liabilities, net** | $1,661,839 | $1,483,900 | | **Total liabilities** | $3,224,409 | $3,113,359 | | **Total stockholders' equity** | $1,070,871 | $1,045,149 | [Condensed Consolidated Statements of Income (Loss)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20%28Loss%29) Ameresco reported significant increases in Q2 2025 net income to **$15.5 million** and six-month net income to **$9.9 million**, with diluted EPS at **$0.24** Financial Performance Summary (in thousands, except per share amounts) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $472,284 | $437,982 | $825,113 | $736,388 | | **Gross Profit** | $73,358 | $65,169 | $125,277 | $112,162 | | **Operating Income** | $27,774 | $20,953 | $41,466 | $28,946 | | **Net Income (Loss)** | $15,518 | $5,194 | $9,912 | $(984) | | **Diluted EPS** | $0.24 | $0.09 | $0.14 | $0.04 | [Condensed Consolidated Statements of Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For H1 2025, net cash used in operating activities was **$55.2 million**, with a net decrease in cash, cash equivalents, and restricted cash of **$6.4 million** Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Category | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash from operating activities** | $(55,177) | $74,131 | | **Net cash from investing activities** | $(176,033) | $(233,212) | | **Net cash from financing activities** | $221,935 | $238,435 | | **Net (decrease) increase in cash** | $(6,361) | $79,424 | - Capital investments in energy assets were a primary use of cash in investing activities, totaling **$208.1 million** for the first six months of 2025[29](index=29&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=15&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed disclosures on accounting policies, revenue recognition, acquisitions, debt, leases, contingencies, and segment information - Total contracted backlog stood at **$3.76 billion** as of June 30, 2025, with approximately **35%** expected to be recognized as revenue in the next twelve months[61](index=61&type=chunk) - On January 24, 2025, the company acquired ASA Controls, Inc., an energy services company, for **$3.97 million** in cash[66](index=66&type=chunk) - The company is exposed to a potential loss related to a **$26.7 million** deposit paid to Powin LLC, a battery supplier that filed for Chapter 11 bankruptcy[106](index=106&type=chunk)[44](index=44&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 and H1 2025 financial results, highlighting revenue growth, key business trends, regulatory impacts, supply chain challenges, segment performance, backlog, and liquidity [Key Factors and Trends](index=36&type=section&id=Key%20Factors%20and%20Trends) Company performance is influenced by federal policies, ongoing supply chain disruptions, inflation, and the unresolved dispute with Southern California Edison (SCE) over potential liquidated damages - The newly enacted One Big Beautiful Bill Act (OBBB) on July 4, 2025, introduces new timing requirements for solar ITC eligibility and phases down ITCs for energy storage, potentially impacting project economics[150](index=150&type=chunk)[151](index=151&type=chunk) - The company continues to face supply chain disruptions, inflation, and component shortages, which negatively impacted results during the first six months of 2025[154](index=154&type=chunk)[155](index=155&type=chunk) - A dispute with SCE over potential liquidated damages up to a maximum of **$89 million** remains unresolved, although two of the three projects have reached substantial completion[102](index=102&type=chunk)[161](index=161&type=chunk)[162](index=162&type=chunk) [Backlog and Awarded Projects](index=38&type=section&id=Backlog%20and%20Awarded%20Projects) The company's total project backlog increased to **$5.1 billion** as of June 30, 2025, with the 12-month project backlog growing to **$1.2 billion** Backlog Summary (in thousands) | Backlog Category | As of June 30, 2025 | As of June 30, 2024 | | :--- | :--- | :--- | | **Total project backlog** | $5,103,906 | $4,413,043 | | *Fully-contracted backlog* | *$2,415,369* | *$1,650,562* | | *Awarded, not yet signed* | *$2,688,537* | *$2,762,481* | | **12-month project backlog** | $1,219,471 | $817,369 | | **O&M Backlog (fully-contracted)** | $1,346,352 | $1,185,890 | [Results of Operations](index=40&type=section&id=Results%20of%20Operations) Q2 2025 revenues increased **7.8%** to **$472.3 million**, with operating income up **32.6%**, while H1 2025 revenues grew **12.0%** to **$825.1 million**, and operating income rose **43.3%** Q2 Year-Over-Year Financial Results (in thousands) | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | **Revenues** | $472,284 | $437,982 | 7.8% | | **Gross Profit** | $73,358 | $65,169 | 12.6% | | **Operating Income** | $27,774 | $20,953 | 32.6% | | **Net Income** | $15,518 | $5,194 | 198.8% | Six Months Year-Over-Year Financial Results (in thousands) | Metric | H1 2025 | H1 2024 | % Change | | :--- | :--- | :--- | :--- | | **Revenues** | $825,113 | $736,388 | 12.0% | | **Gross Profit** | $125,277 | $112,162 | 11.7% | | **Operating Income** | $41,466 | $28,946 | 43.3% | | **Net Income (Loss)** | $9,912 | $(984) | 1,107.3% | [Business Segment Analysis](index=41&type=section&id=Business%20Segment%20Analysis) In H1 2025, Europe segment revenue more than doubled, North America Regions grew **12.4%**, while U.S. Federal revenue declined **42.5%**, and Renewable Fuels reported a loss before taxes Revenues by Segment - Six Months Ended June 30 (in thousands) | Segment | 2025 | 2024 | % Change | | :--- | :--- | :--- | :--- | | **North America Regions** | $389,445 | $346,416 | 12.4% | | **U.S. Federal** | $84,891 | $147,627 | (42.5)% | | **Renewable Fuels** | $80,994 | $78,711 | 2.9% | | **Europe** | $238,541 | $117,181 | 103.6% | | **All Other** | $31,242 | $46,453 | (32.7)% | Income (Loss) Before Taxes by Segment - Six Months Ended June 30 (in thousands) | Segment | 2025 | 2024 | | :--- | :--- | :--- | | **North America Regions** | $29,245 | $14,436 | | **U.S. Federal** | $8,579 | $16,741 | | **Renewable Fuels** | $(2,837) | $6,022 | | **Europe** | $10,417 | $1,241 | | **All Other** | $3,537 | $5,351 | [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains liquidity through cash flow and debt facilities, refinancing its credit facility in January 2025, and plans significant capital expenditures for new renewable energy plants - On January 23, 2025, the company refinanced its corporate credit facility, resulting in a new **$225 million** revolver and a **$100 million** term loan, both maturing in December 2028[184](index=184&type=chunk)[188](index=188&type=chunk) - The company plans to invest an additional **$150 million to $200 million** in capital expenditures during the remainder of 2025, mainly for constructing new renewable energy plants[204](index=204&type=chunk) - Cash used in operations was **$55.2 million** for H1 2025, a significant shift from **$74.1 million** in cash provided by operations in H1 2024, primarily due to changes in working capital accounts like accounts payable and deferred revenue[201](index=201&type=chunk)[202](index=202&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As of June 30, 2025, the company reports no significant changes in market risk exposures compared to its 2024 Annual Report on Form 10-K - There were no significant changes in market risk exposures from those described in the 2024 Form 10-K[211](index=211&type=chunk) [Item 4. Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of the end of the quarter[212](index=212&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[213](index=213&type=chunk) [PART II - OTHER INFORMATION](index=47&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings but does not expect any pending cases to have a material adverse effect on its business or financial condition - The company states that it does not expect any currently pending legal proceedings to have a material adverse effect on its business or financial condition[214](index=214&type=chunk) [Item 1A. Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the detailed risk factors in the 2024 Form 10-K, indicating no material changes or additions to those previously disclosed risks - The report directs investors to the risk factors previously disclosed in the 2024 Form 10-K for a comprehensive understanding of the risks the business faces[216](index=216&type=chunk)[217](index=217&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Ameresco did not repurchase common stock in Q2 2025, with approximately **$5.7 million** remaining available under its authorized stock repurchase program - No shares were repurchased in Q2 2025. Approximately **$5.7 million** remains authorized for purchase under the existing stock repurchase program[218](index=218&type=chunk) [Item 5. Other Information](index=47&type=section&id=Item%205.%20Other%20Information) This section discloses that CFO Mark A. Chiplock adopted a Rule 10b5-1 trading plan on June 5, 2025, for the potential sale of up to **58,998** shares of Class A common stock - On June 5, 2025, CFO Mark A. Chiplock adopted a Rule 10b5-1 trading plan for the sale of up to **58,998** shares, effective until May 1, 2026, or earlier completion[220](index=220&type=chunk) [Item 6. Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including Sarbanes-Oxley certifications and financial statements formatted in Inline XBRL - The exhibits filed with the report include Sarbanes-Oxley certifications (302 and 906) and financial data in Inline XBRL format[221](index=221&type=chunk)

Core Insights - Ameresco reported revenue of $472.28 million for the quarter ended June 2025, reflecting a year-over-year increase of 7.8% and a surprise of +14.83% over the Zacks Consensus Estimate of $411.3 million [1] - The company's EPS for the quarter was $0.27, significantly higher than the $0.10 reported in the same quarter last year, resulting in an EPS surprise of +350% compared to the consensus estimate of $0.06 [1] Revenue Breakdown - Revenue from Projects was $358.1 million, exceeding the three-analyst average estimate of $294.85 million [4] - Revenue from Other Services was $23.3 million, slightly below the average estimate of $25.96 million [4] - Revenue from O&M was $28 million, surpassing the average estimate of $26.87 million [4] - Revenue from Energy Assets was $62.9 million, in line with the average estimate of $62.56 million [4] Adjusted EBITDA Performance - Adjusted EBITDA from Projects was $16.3 million, significantly higher than the average estimate of $11.18 million [4] - Adjusted EBITDA from Other Services was $2.62 million, above the average estimate of $2.02 million [4] - Adjusted EBITDA from O&M was $3.45 million, below the average estimate of $4.28 million [4] - Adjusted EBITDA from Energy Assets was $33.79 million, lower than the average estimate of $35.96 million [4] Stock Performance - Ameresco's shares have returned -5.6% over the past month, contrasting with the Zacks S&P 500 composite's +0.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]