Loading...
•
Jun 30, 2021
Ameresco Q2 2021 Earnings Report
Reported robust revenue and profit growth across all business lines, with gross margin improvement driven by recurring revenue growth and the placement of 33 MWe of energy assets into operation.
Key Takeaways
Ameresco reported a strong second quarter with revenue up 23% year-over-year, driven by growth across all business lines. Net income increased by 213%, and the company expanded its portfolio of operating Energy Assets by 33 MWe.
Revenues of $273.9 million, up 23% year-over-year.
Net Income of $13.7 million, up 213%.
GAAP EPS of $0.26, up 189%.
Non-GAAP EPS of $0.34, up 79%.
Ameresco
Ameresco
Ameresco Revenue by Segment
Revenue by Segment
Projects Revenue
CapyFin.comEnergy Assets Revenue
CapyFin.comO&M Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company reaffirms its 2021 guidance ranges detailed in the table below, representing year-over-year revenue and adjusted EBITDA growth of 10% and 23%, respectively, at the midpoints, and Non-GAAP EPS growth of 20% at the midpoint, excluding the impact of approximately $0.13 of one-time tax benefits realized in 2020.
Positive Outlook
- Revenue between $1.11 billion and $1.16 billion.
- Gross Margin between 18.5% and 19.5%.
- Adjusted EBITDA between $140 million and $150 million.
- Interest Expense & Other between $20 million and $22 million.
- Effective Tax Rate between 12% and 18%.
Challenges Ahead
- Anticipates commissioning a further 22 MWe to 42 MWe of energy assets.
- Plans to invest approximately $115 million to $165 million in additional energy asset capital expenditures during the remainder of 2021.
- Majority of the capital expenditures will be funded with project finance debt.
- Uncertainties with respect to the impact of accounting for our redeemable non-controlling interests.
- Significant uncertainties with respect to taxes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income