Financial Data and Key Metrics Changes - The company reported total revenue of $441 million for Q4 2023, representing a 33% increase year-over-year [13] - Adjusted EBITDA grew 33% to $54.9 million in the quarter, with non-GAAP EPS nearly doubling from the previous year [15] - Gross margin for the quarter was 17%, which dipped due to project mix impacts [15] Business Line Data and Key Metrics Changes - Each of the four business lines experienced double-digit revenue growth, with the projects business showing particularly strong performance [13] - Energy asset revenue grew by 12%, driven by an increase in operating assets and higher RIN prices [14] - The O&M business and other lines of business grew by 13% and 12%, respectively [15] Market Data and Key Metrics Changes - The total project backlog reached a record $3.9 billion at the end of 2023, up approximately 50% from 2022 [9] - New awards for the year totaled $2.2 billion, with proposal activity at record levels [9] - The European revenue accounted for over 10% of total revenue, with growth exceeding 150% year-over-year [14] Company Strategy and Development Direction - The company aims for a 20% growth in its energy asset portfolio and plans to place approximately 200 megawatts of energy assets into service during 2024 [21] - The focus for 2024 is on executing the project backlog and generating cash flow [23] - The company is adapting to industry challenges by optimizing operational structures and focusing on larger opportunities in core markets [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in 2024, citing strong demand for energy efficiency and renewable solutions, supported by favorable macro factors [8] - The company is focused on timely conversion and execution of its project backlog, which is expected to yield results [11] - Management noted that the IRA legislation continues to support demand for their services, regardless of the political landscape [12] Other Important Information - The company anticipates a CapEx of $350 million to $400 million for 2024, primarily funded through energy asset debt and tax equity [22] - The corporate debt at year-end was $280 million, with a leverage ratio of 3.3 times, below the bank covenant level [19] Q&A Session Summary Question: Can you talk about the energy asset portfolio planning for 2024? - The company plans to retain the entire 200 megawatts on the balance sheet, with CapEx figures also retained [26] Question: Can you discuss the 2024 EBITDA guidance? - The guidance reflects a more conservative approach and includes a $40 million revenue pull into Q4 [34] Question: What is the normal quarterly cadence of your business? - Q1 is typically the lowest quarter, with a steady ramp-up expected through Q3 and Q4 [36] Question: Can you talk about the growth in Europe? - The company expects significant organic growth in Europe, particularly with new technologies [40] Question: What is the plan for debt raise? - The process is underway, with strong interest from lenders [47] Question: Can you clarify the expected timing around the SoCal projects? - The company is working on substantial completion checklists, with cash flow expected 60 days after completion [54] Question: What gives you confidence in meeting Q1 expectations? - Over 75% of total revenue is already contracted, providing visibility for Q1 [62] Question: How do you see the economics of energy efficiency currently? - The economic rationale for energy efficiency investments is stronger than ever due to rising energy prices [96]

Ameresco (AMRC) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15%. A quarter ago, it was expected that this energy services company would post earnings of $0.47 per share when it actually produced earnings of $0.40, delivering a surprise of -14.89%.Over the last four quarters, the c ...

Q4 2023 Supplemental Information February 28, 2024 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounti ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Ameresco Reports Fourth Quarter and Full Year 2023 Financial Results Awarded Project Backlog Conversion Drives Significant Q4 Revenue and Profit Growth Record Total Project Backlog of nearly $4B, with $520M in New Awards in Q4 717 MWe of Assets in Development, with 63 MWe Placed into Operation in the Quarter Guiding to 38% Adj. EBITDA Growth at the Midpoint for 2024 Full Year and Fourth Quarter 2023 Financial Highlights: • Revenues of $1,374.6 million and $441.4 million • ...

Ameresco (AMRC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 28 ...

FRAMINGHAM, Mass. & KAHULUI, Hawaii--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its award from Hawaiian Electric Company for the proposed 'Ūkiu Energy 40-megawatt (MW) renewable energy site in Maui. This innovative facility will add critical grid reliability to the island and move Hawaii closer to its clean energy goals, including the state's commitment to achieving 100% renewable electricity and carbo ...

Core Insights - Ameresco, Inc. has achieved commercial operation at its landfill gas to renewable natural gas (RNG) plant at Republic Services' Brickyard Landfill in Danville, Illinois, with a gross nameplate capacity of over 500,000 Dekatherms per year [1] - The Brickyard facility is expected to produce RNG that can reduce over 27,000 tons of carbon dioxide emissions annually, equivalent to the carbon sequestered by planting nearly 326,000 acres of forests [2] - The project aligns with Republic Services' sustainability goal to beneficially reuse 50% more biogas by 2030 and represents Ameresco's 12th renewable energy project with Republic [3] Company Overview - Ameresco, founded in 2000, is a leading cleantech integrator and renewable energy asset developer, focusing on energy efficiency and sustainability solutions [5] - Republic Services is a leader in the environmental services industry, providing a comprehensive range of products and services aimed at advancing circularity and supporting decarbonization [6]

FRAMINGHAM, Mass. & KAUAI, Hawaii--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of the installation of new energy efficiency and maintenance advancements at OUTRIGGER Kauai Beach Resort & Spa as part of a 15-year Energy as a Service (EaaS) agreement. The partnership allowed the oceanfront resort to update and replace its energy-related equipment without up-front capital. The $15.5 milli ...

FRAMINGHAM, Mass. & WARREN, Mich.--(BUSINESS WIRE)--Ameresco, Inc. (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy announces they have been awarded an Energy Savings Performance Contract (ESPC) from Warren Woods Public Schools in Warren, Michigan. The collaboration aims to improve the district's facilities by promoting sustainability, energy efficiency and financial resilience. Under the ESPC, Ameresco will implement a variety of cutting-edge technologi ...