Ameresco, Inc. (NYSE:AMRC) Q2 2024 Earnings Conference Call August 5, 2024 4:30 PM ET Company Participants Leila Dillon - SVP, Marketing & Communications George Sakellaris - Chairman, President & CEO Nicole Bulgarino - EVP & General Manager, Federal & Utility Solutions Mike Bakas - EVP, Renewable Natural Gas Doran Hole - EVP & CFO Mark Chiplock - SVP & Chief Accounting Officer Conference Call Participants Noah Kaye - Oppenheimer & Co Stephen Gengaro - Stifel George Gianarikas - Canaccord Genuity Kashy Harri ...

Exhibit 99.1 Ameresco Reports Second Quarter 2024 Financial Results Strong Revenue Growth Led by 45% Increase in Project Revenue Total Project Backlog Increased 36% Y/Y to a Record $4.4 billion; Contracted Backlog up 51% Record 155 MWe Energy Assets Placed into Operation During the Quarter Adjusting 2024 Guidance Second Quarter 2024 Financial Highlights: • Revenues of $438.0 million • Net income attributable to common shareholders of $5.0 million • GAAP EPS of $0.09 • Non-GAAP EPS of $0.10 • Adjusted EBITDA ...

Ameresco, Inc. (NYSE:AMRC) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Leila Dillon – Senior Vice President, Marketing & Communications George Sakellaris – Chairman, President, and Chief Executive Officer Doran Hole – Executive Vice President and Chief Financial Officer Mark Chiplock – Senior Vice President and Chief Accounting Officer Conference Call Participants Noah Kaye – Oppenheimer & Co. Inc. Moses Sutton – BNP Eric Stine – Craig Hallum Joseph Osha – Guggenheim Leanne ...

Q1 2024 Supplemental Information May 7, 2024 ...

Ameresco (AMRC) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.09%. A quarter ago, it was expected that this energy services company would post earnings of $0.60 per share when it actually produced earnings of $0.69, delivering a surprise of 15%.Over the last four quarters, the company ...

PART I - FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) Ameresco's unaudited Q1 2024 condensed consolidated financial statements report a **$6.2 million net loss**, a significant shift from prior-year net income Key Financial Statement Summary (Q1 2024 vs Q1 2023) | Financial Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | **Revenues** | $298,406 | $271,042 | | **Gross Profit** | $46,993 | $49,948 | | **Operating Income** | $7,993 | $9,097 | | **Net (Loss) Income** | $(6,178) | $1,557 | | **Net (Loss) Income Attributable to Common Shareholders** | $(2,937) | $1,102 | | **Diluted (Loss) Earnings Per Share** | $(0.06) | $0.02 | | **Cash from Operating Activities** | $20,817 | $58,772 | Condensed Consolidated Balance Sheet Highlights | Balance Sheet Item | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | $1,126,472 | $1,128,471 | | **Total Assets** | $3,803,266 | $3,713,776 | | **Total Current Liabilities** | $1,162,280 | $901,471 | | **Total Liabilities** | $2,829,195 | $2,741,014 | | **Total Stockholders' Equity** | $930,163 | $925,886 | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, segment reorganization, Europe's revenue growth, **$2.7 billion contracted backlog**, acquisitions, debt, and an **$89 million SCE project contingency** - The company reorganized its internal structure on January 1, 2024, combining U.S. Regions and Canada into 'North America Regions' and reclassifying prior period amounts[39](index=39&type=chunk)[133](index=133&type=chunk) - A significant contingency exists with Southern California Edison (SCE) for a BESS project, with potential liquidated damages up to **$89 million** due to delays, which Ameresco contests[96](index=96&type=chunk)[158](index=158&type=chunk) Disaggregated Revenue by Segment (Three Months Ended March 31) | Segment | 2024 Revenue (in thousands) | 2023 Revenue (in thousands) | % Change | | :--- | :--- | :--- | :--- | | North America Regions | $138,285 | $140,542 | (1.6)% | | U.S. Federal | $60,890 | $59,556 | 2.2% | | Europe | $44,122 | $19,096 | 131.1% | | Alternative Fuels | $32,859 | $28,339 | 15.9% | | All Other | $22,250 | $23,509 | (5.4)% | | **Total** | **$298,406** | **$271,042** | **10.1%** | - Contracted backlog reached **$2.7 billion** as of March 31, 2024, with approximately **32%** expected to be recognized as revenue in the next twelve months[49](index=49&type=chunk) - In Q1 2024, the company completed the second phase of the Bright Canyon Energy Corporation (BCE) acquisition for **$48.0 million**, financed with cash and a seller's note[65](index=65&type=chunk)[89](index=89&type=chunk)[178](index=178&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 results, noting a **10.1% revenue increase** to **$298.4 million** but a **$6.2 million net loss** due to project mix and supply chain issues, with backlog growing to **$4.0 billion** Q1 2024 vs Q1 2023 Performance Summary | Metric (in thousands) | Q1 2024 | Q1 2023 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenues | $298,406 | $271,042 | $27,364 | 10.1% | | Gross Profit | $46,993 | $49,948 | $(2,955) | (5.9)% | | Operating Income | $7,993 | $9,097 | $(1,104) | (12.1)% | | Net (Loss) Income | $(6,178) | $1,557 | $(7,735) | (496.8)% | - Key business trends include the Inflation Reduction Act (IRA)'s impact, creating both favorable climate and project delays, alongside persistent supply chain disruptions and inflation negatively impacting Q1 2024 results[150](index=150&type=chunk)[151](index=151&type=chunk)[152](index=152&type=chunk) Backlog and Asset Development Growth (as of March 31) | Metric (in millions) | 2024 | 2023 | | :--- | :--- | :--- | | Total Project Backlog | $4,020.1 | $2,971.4 | | O&M Backlog | $1,199.0 | $1,214.8 | | Assets in Development | $2,600.0 | $1,400.0 | - The company plans to invest an additional **$235 million to $285 million** in capital expenditures during 2024, primarily for new renewable energy plants, funded mostly with project finance debt[188](index=188&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As of March 31, 2024, no significant changes in market risk exposures have occurred since the 2023 Annual Report on Form 10-K disclosures - No significant changes in market risk exposures have occurred since the 2023 Form 10-K disclosures[194](index=194&type=chunk) [Item 4. Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting during the quarter - Management concluded the company's disclosure controls and procedures were effective as of the report period end[195](index=195&type=chunk) - No material changes in internal control over financial reporting occurred during the most recent fiscal quarter[196](index=196&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, not expecting material adverse effects, with a significant SCE project contingency detailed in Note 10 - The company is subject to ordinary course lawsuits, not expecting material adverse effects, with a material SCE project contingency detailed in Note 10[96](index=96&type=chunk)[198](index=198&type=chunk) [Item 1A. Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the comprehensive risk factors discussed in the 2023 Form 10-K, emphasizing potential material adverse effects on business and financial results - The company's business is subject to numerous risks detailed in the 'Risk Factors' section of the 2023 Form 10-K[199](index=199&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Ameresco did not repurchase Class A common stock in Q1 2024, with approximately **$5.9 million** remaining available under the repurchase program - No shares were repurchased in Q1 2024, with approximately **$5.9 million** remaining authorized under the stock repurchase program as of March 31, 2024[200](index=200&type=chunk) [Item 5. Other Information](index=43&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q1 2024 - No directors or officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement during Q1 2024[201](index=201&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section indexes exhibits filed with Form 10-Q, including credit agreement amendments, CEO/CFO certifications, and Inline XBRL financial data - Exhibits include Amendment No. 5 to the Fifth Amended and Restated Credit Agreement, CEO/CFO certifications (Sections 302 and 906), and Inline XBRL data[203](index=203&type=chunk)[204](index=204&type=chunk)

Exhibit 99.1 Ameresco Reports First Quarter 2024 Financial Results Solid Execution with Growth Across All Business Lines 45% Y/Y Growth in Contracted Backlog Over 750 MWe Ameresco Owned Energy Assets in Development Reaffirms 2024 Guidance First Quarter 2024 Financial Highlights: • Revenues of $298.4 million • Net loss attributable to common shareholders of $2.9 million • GAAP EPS of ($0.06) • Non-GAAP EPS of ($0.10) • Adjusted EBITDA of $30.8 million FRAMINGHAM, MA – May 7, 2024 – Ameresco, Inc. (NYSE:AMRC) ...

FRAMINGHAM, Mass. & EDMONTON, Alberta--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, announced a contract to design, engineer and implement energy upgrades across 124 buildings covering 4.6 million square feet at Canadian Forces Base in Edmonton, Canada. The energy conservation measures include the installation of LED lighting, boiler plant and heating system upgrades, converting fuel sources from natural gas to elect ...

TARRYTOWN, N.Y.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its strategic partnership with the Public Schools of Tarrytowns. Following a thorough Request for Proposals (RFP) process, Energia, the engineering firm acting as the Owner’s Representative during project development and implementation, chose Ameresco as the winner to lead the Comprehensive Energy Audit. The key goals of the program include li ...

Cleantech energy integration specialist Ameresco (AMRC 2.90%) provided its investors with a pleasant jolt of energy after market close on Wednesday. It published a set of quarterly figures in which the headline numbers beat analyst estimates for both revenue and profitability. The market rewarded the company with a nearly 3% bump in its share price Thursday, a figure that was higher than the S&P 500 index's 0.5% rise.Growth and estimate beats in the fourth quarterNot only did Ameresco's fourth-quarter resul ...