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 ...

Ameresco representatives present check for one time donation to the Village of DePue as a part of the project for beneficial reuse of the landfill and community support of clean energy. (Photo: Business Wire)Ameresco representatives present check for one time donation to the Village of DePue as a part of the project for beneficial reuse of the landfill and community support of clean energy. (Photo: Business Wire)FRAMINGHAM, Mass. & DEPUE, Ill.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading cleant ...

Core Insights - Ameresco, Inc. has received a Silver Award for Energy, Cleantech, and Environment Company of the Year in the 2024 Globee® Awards for American Business, highlighting its leadership in the cleantech sector [1] - The award recognizes Ameresco's commitment to supporting customers in the clean energy transition and its success in delivering energy-efficient and renewable solutions [2] Company Achievements - Ameresco's renewable energy assets and customer projects achieved a carbon offset equivalent to approximately 14.7 million metric tons of CO2 in 2022, demonstrating significant environmental impact [2] - The company offers a comprehensive portfolio of sustainable solutions that reduce energy consumption and operating costs, upgrade facilities with no upfront cost, and enhance occupant comfort [2] Company Overview - Founded in 2000, Ameresco, Inc. is a leading cleantech integrator and renewable energy asset developer, with a focus on helping customers achieve net-zero decarbonization and energy resiliency [4] - The company operates with over 1,300 employees across North America and Europe, providing local expertise and successfully completing projects for various sectors, including government, healthcare, and education [4]

Ameresco, Inc. (NYSE:AMRC) Q3 2023 Results Conference Call November 6, 2023 4:30 PM ET Company Participants Leila Dillon - SVP, Marketing & Communications George Sakellaris - Chairman, President & CEO Doran Hole - EVP, CFO Mark Chiplock - SVP, CAO Joshua Baribeau - SVP, Finance and Corporate Treasury Conference Call Participants Christopher Souther - B. Riley Eric Stine - Craig-Hallum George Gianarikas - Canaccord Genuity Greg Wasikowski - Webber Research & Advisory Joseph Osha - Guggenheim Julien Dumoulin ...

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) For the nine months ended September 30, 2023, Ameresco reported decreased revenue and net income due to project timing, while assets and liabilities increased, driven by energy asset growth and financing [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2023, total assets increased to $3.46 billion and total liabilities to $2.51 billion, primarily driven by growth in energy assets and long-term debt, with stockholders' equity modestly rising Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $1,030,123 | $1,001,351 | | **Energy assets, net** | $1,656,585 | $1,181,525 | | **Total Assets** | **$3,460,993** | **$2,876,821** | | **Total Current Liabilities** | $882,342 | $812,068 | | **Long-term debt and financing lease liabilities, net** | $1,022,256 | $568,635 | | **Total Liabilities** | $2,513,692 | $1,957,167 | | **Total Stockholders' Equity** | $899,126 | $873,031 | [Condensed Consolidated Statements of Income](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For Q3 2023, revenues decreased 24.1% to $335.1 million and net income fell 24.9%, while nine-month revenues dropped 37.5% to $933.3 million and net income decreased 61.4%, primarily due to large project timing Performance Summary (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $335,149 | $441,296 | $933,265 | $1,492,695 | | **Gross Profit** | $63,656 | $79,556 | $172,253 | $229,237 | | **Operating Income** | $21,430 | $38,938 | $48,143 | $110,678 | | **Net Income** | $20,842 | $27,735 | $30,812 | $79,906 | | **Diluted EPS** | $0.40 | $0.51 | $0.54 | $1.44 | [Condensed Consolidated Statements of Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2023, net cash used in operating activities improved to $40.4 million, while investing activities increased to $465.2 million due to energy asset investments, and financing activities provided $532.4 million from new debt Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $(40,421) | $(273,169) | | **Net Cash from Investing Activities** | $(465,193) | $(202,664) | | **Net Cash from Financing Activities** | $532,401 | $554,194 | | **Net increase in cash** | $25,807 | $76,504 | - Capital investment in energy assets significantly increased to **$445.5 million** in the first nine months of 2023, compared to **$182.1 million** in the same period of 2022[23](index=23&type=chunk) [Notes to Condensed Consolidated Financial Statements (Unaudited)](index=15&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The notes detail key accounting policies, the acquisition of Enerqos Energy Solutions for $13.4 million, a substantial increase in total debt to $1.46 billion for energy asset growth, and a 52.1% effective tax benefit from IRA credits - On March 30, 2023, the company acquired Enerqos Energy Solutions S.r.l. for a total purchase consideration of **$13.4 million**, resulting in **$6.9 million** of goodwill[57](index=57&type=chunk)[58](index=58&type=chunk) - Total debt and financing lease liabilities increased from **$915.7 million** at year-end 2022 to **$1.46 billion** as of September 30, 2023, mainly due to increased non-recourse construction revolvers and term loans[89](index=89&type=chunk) - The company recorded an income tax benefit of **$10.6 million** for the nine months ended Sep 30, 2023, resulting in an effective tax rate of **-52.1%**, primarily due to benefits from the Inflation Reduction Act (IRA), including investment tax credits and Section 179D deductions[103](index=103&type=chunk)[104](index=104&type=chunk) - Contracted backlog stood at **$2.43 billion** as of September 30, 2023, with approximately **35%** expected to be recognized as revenue in the next twelve months[54](index=54&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes revenue and net income declines to large project timing, highlights a strong $3.7 billion backlog and $1.8 billion assets in development, notes IRA impacts and supply chain challenges, and confirms sufficient liquidity through new debt financing [Key Factors and Trends](index=37&type=section&id=Key%20Factors%20and%20Trends) The business environment is shaped by the IRA causing project delays, ongoing global supply chain issues, potential U.S. government shutdown risks, and management of delays and potential liquidated damages for SCE battery storage projects - The Inflation Reduction Act (IRA) is seen as favorable, but has led to some project delays as customers evaluate its benefits and funding mechanisms[157](index=157&type=chunk) - Global factors like supply chain disruptions, labor shortages, and inflation negatively impacted results in the first nine months of 2023 and are expected to continue[158](index=158&type=chunk)[161](index=161&type=chunk) - The company is working with Southern California Edison (SCE) to evaluate force majeure claims for delays on three BESS projects, potentially facing up to **$89 million** in liquidated damages if unsuccessful[168](index=168&type=chunk) [Backlog and Assets in Development](index=38&type=section&id=Backlog%20and%20Assets%20in%20Development) The company's total project backlog grew significantly to $3.7 billion and assets in development increased to $1.8 billion as of September 30, 2023, indicating strong future growth potential Project & O&M Backlog (in thousands) | Backlog Type | Sep 30, 2023 | Sep 30, 2022 | | :--- | :--- | :--- | | **Total Project Backlog** | $3,701,340 | $2,626,775 | | - Fully-contracted | $1,188,460 | $933,295 | | - Awarded, not yet signed | $2,512,880 | $1,693,480 | | **O&M Backlog** | $1,237,985 | $1,245,790 | - Assets in development increased to an estimated **$1.8 billion** at September 30, 2023, from **$1.4 billion** at the same time in 2022[175](index=175&type=chunk) [Results of Operations](index=40&type=section&id=Results%20of%20Operations) For Q3 2023, revenue decreased 24.1% and operating income fell 45.0%, while nine-month revenue dropped 37.5% and operating income 56.5%, primarily due to lower project revenue from the large SCE battery storage project Q3 Year-Over-Year Comparison (in thousands) | Metric | Q3 2023 | Q3 2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $335,149 | $441,296 | $(106,147) | (24.1)% | | **Gross Profit** | $63,656 | $79,556 | $(15,900) | (20.0)% | | **Operating Income** | $21,430 | $38,938 | $(17,508) | (45.0)% | | **Net Income** | $20,842 | $27,735 | $(6,893) | (24.9)% | Nine Months Year-Over-Year Comparison (in thousands) | Metric | YTD 2023 | YTD 2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $933,265 | $1,492,695 | $(559,430) | (37.5)% | | **Gross Profit** | $172,253 | $229,237 | $(56,984) | (24.9)% | | **Operating Income** | $48,143 | $110,678 | $(62,535) | (56.5)% | | **Net Income** | $30,812 | $79,906 | $(49,094) | (61.4)% | [Business Segment Analysis](index=41&type=section&id=Business%20Segment%20Analysis) For the nine months ended September 30, 2023, revenue declines were concentrated in U.S. Regions and U.S. Federal segments due to project timing, while the All Other segment grew significantly, and income before taxes decreased across most segments Revenues by Segment (Nine Months Ended Sep 30, in thousands) | Segment | 2023 | 2022 | % Change | | :--- | :--- | :--- | :--- | | U.S. Regions | $406,593 | $983,111 | (58.6)% | | U.S. Federal | $226,916 | $276,198 | (17.8)% | | Canada | $51,140 | $43,999 | 16.2% | | Alternative Fuels | $85,974 | $87,874 | (2.2)% | | All Other | $162,642 | $101,513 | 60.2% | Income Before Taxes by Segment (Nine Months Ended Sep 30, in thousands) | Segment | 2023 | 2022 | % Change | | :--- | :--- | :--- | :--- | | U.S. Regions | $33,401 | $77,407 | (56.9)% | | U.S. Federal | $26,227 | $36,623 | (28.4)% | | Canada | $3,027 | $1,482 | 104.3% | | Alternative Fuels | $7,445 | $18,891 | (60.6)% | | All Other | $6,514 | $8,952 | (27.2)% | [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) The company funds operations through cash flow and significant debt financing, having raised $566.4 million from non-recourse loans and $100.3 million from sale-leasebacks in the first nine months of 2023, and believes current liquidity is sufficient through at least November 2024 - The company believes cash, working capital, and availability under its credit facilities will be sufficient to fund operations through at least November 2024[188](index=188&type=chunk) - In August 2023, the company entered into a two-phased agreement to acquire an energy asset project and Bright Canyon Energy Corporation (BCE), involving cash, seller financing, and assumed debt[190](index=190&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk) - The company has actively used project financing, raising **$566.4 million** from non-recourse loans and **$100.3 million** from sale-leasebacks in the first nine months of 2023 to fund renewable energy plant construction[198](index=198&type=chunk)[199](index=199&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As of September 30, 2023, there have been no significant changes in the company's market risk exposures compared to those described in its 2022 Form 10-K - There have been no significant changes in market risk exposures that materially affected the quantitative and qualitative disclosures as described in Item 7A to the 2022 Form 10-K[212](index=212&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with updates made to internal controls for a new ERP system and complex lease agreements - Management concluded that as of the evaluation date, the company's disclosure controls and procedures were effective at a reasonable assurance level[213](index=213&type=chunk) - Changes to internal controls were made to accommodate a new ERP system and to handle complex lease agreements with non-monetary, in-kind consideration[215](index=215&type=chunk) [PART II - OTHER INFORMATION](index=47&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings in the ordinary course of business but does not anticipate any material adverse effects on its financial condition or operations - The company does not believe that any currently pending or threatened legal proceedings will have a material adverse effect on its business, results of operations, or financial condition[217](index=217&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the detailed risk factors in the 2022 Form 10-K, indicating no material changes to those risks - The report directs readers to the "Risk Factors" section in the 2022 Form 10-K for a comprehensive description of business risks[218](index=218&type=chunk) [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) The company did not repurchase shares in Q3 2023, with approximately $5.9 million remaining available under its stock repurchase program as of September 30, 2023 - No shares were repurchased in Q3 2023. Approximately **$5.9 million** remains authorized for repurchase under the existing program as of September 30, 2023[219](index=219&type=chunk) [Other Information](index=47&type=section&id=Item%205.%20Other%20Information) This section discloses Director Jennifer Miller's adoption of a Rule 10b5-1 trading plan on May 22, 2023, for the potential sale of up to 40,000 shares - Director Jennifer Miller adopted a Rule 10b5-1 trading arrangement on May 22, 2023, to sell up to **40,000 shares** of Class A common stock[223](index=223&type=chunk) [Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including an amendment to the credit agreement, officer certifications, and financial statements in Inline XBRL [Signatures](index=50&type=section&id=Signatures) This section contains the required signatures for the Form 10-Q filing