Earnings Releases·Nov 9, 2026, 4:08 PM ET

Ameresco — Third Quarter 2026 Earnings Summary

Total revenue rose 10% year-over-year to $580.3 million, with Net income at $31.9 million ($0.59 GAAP EPS) and Adjusted EBITDA up 24% to $91.7 million; gross margin expanded to 18.7% driven by favorable business mix and asset life adjustments.
Guidance was issued for Q4 2026 revenue of $625–$650 million and Full Year 2026 revenue of $2.13–$2.15 billion, reflecting the retrospective adoption of a tax-based accounting policy for transferable tax credits and 100% consolidation of joint ventures.
Record total backlog reached $7.2 billion (39% growth), supported by $875 million in new Q3 awards, including $675 million from Federal infrastructure/Europe and $200 million from data center energy infrastructure.
Management anticipates continued growth in 2027 driven by a robust project backlog and recurring revenue streams, while securing $106 million in new financing commitments to strengthen the capital position.