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AMRC NYSE· Ameresco Inc.
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AMRC NYSE· Ameresco Inc.
Earnings report Q3 2023

AMERESCO, INC. Reports Decline in Revenue for Latest Quarter

Segments of revenue

AMERESCO, INC. reported total revenues of $335.15 million for the latest quarter. The revenue was disaggregated into different segments as follows:

  • U.S. Regions: $143.24 million
  • U.S. Federal: $87.34 million
  • Canada: $17.53 million
  • Alternative Fuels: $27.32 million
  • All Other: $59.72 million

Strengths

AMERESCO, INC. demonstrated strength in its All Other segment, which experienced a significant increase in revenue of 104.7% compared to the same period last year. This growth can be attributed to the company's focus on energy efficiency and renewable energy projects. Additionally, the U.S. Federal segment showed resilience with a relatively small decline of 11.9% in revenue.

Challenges

AMERESCO, INC. faced challenges in its U.S. Regions segment, which experienced a substantial decline of 47.2% in revenue compared to the previous year. This decline was primarily due to lower project revenues resulting from the timing of revenue recognition based on seasonal trends and construction cycles. The company also reported an overall decline in total revenues of 24.1% for the latest quarter.

Noteworthy

It is worth noting that AMERESCO, INC.'s revenue fluctuates throughout the year due to seasonal trends and construction cycles. The third and fourth quarters typically have higher revenues and operating income, while the first quarter tends to have lower revenues. However, the company acknowledges that these fluctuations may become harder to predict due to potential effects of climate change and government shutdowns.

Summary

AMERESCO, INC. faced challenges in its U.S. Regions segment, resulting in a decline in total revenues for the latest quarter. However, the company demonstrated strength in its All Other segment, which experienced significant revenue growth. The fluctuation in revenue throughout the year is a characteristic of AMERESCO, INC.'s business, but potential factors such as climate change and government shutdowns may impact future predictions. Overall, the company's financial performance in the latest quarter reflects a mixed outcome.

Source documents

Form 10-Q  filed on Nov 07, 2023
42 pages scanned

Reference data

Company financials Q3 revenue 441M
Analyst estimates Q3 EPS beat by 50.11%
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