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Jun 30, 2020
Ameresco Q2 2020 Earnings Report
Ameresco's second quarter results reflected strong execution mitigating COVID-19 impacts, with double-digit revenue growth and enhanced liquidity.
Key Takeaways
Ameresco reported a 13% increase in revenue to $223.0 million for Q2 2020, driven by growth across projects, energy assets, and O&M. Net income was $4.4 million, with GAAP EPS at $0.09 and Non-GAAP EPS at $0.19. The company reaffirmed its 2020 guidance range.
Revenues increased 13% year-over-year to $223.0 million.
Net income reached $4.4 million, with GAAP EPS of $0.09.
Adjusted EBITDA was $24.1 million, a 2% increase year-over-year.
Non-GAAP EPS increased 3% year-over-year to $0.19.
Ameresco
Ameresco
Forward Guidance
Ameresco reaffirmed its full year guidance highlighted by revenues of $910 million to $980 million, Adjusted EBITDA of $102 million to $112 million, and Non-GAAP EPS of $0.86 to $0.96.
Positive Outlook
- Revenues of $910 million to $980 million.
- Gross Margin of 18.5% to 19.5%.
- Adjusted EBITDA of $102 million to $112 million.
- Effective Tax Rate of 8% to 12%.
- Non-GAAP EPS of $0.86 to $0.96.
Challenges Ahead
- Excludes the impact of any non-controlling interest activity.
- Excludes any additional charges relating to the Company's restructuring activities.
- Excludes any related tax impact.
- Interest Expense & Other $17 million to $19 million.
- The Company’s guidance excludes the impact of any non-controlling interest activity and any additional charges relating to the Company's restructuring activities, as well as any related tax impact.