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Sep 30, 2022
Ameresco Q3 2022 Earnings Report
Ameresco reported strong Q3 revenue and profit with growth across all business lines.
Key Takeaways
Ameresco reported a strong third quarter in 2022, with a 61% increase in revenue to $441.3 million and a 57% increase in net income to $27.4 million. The company saw growth across all business lines and reaffirmed its FY22 guidance.
Revenues increased by 61% to $441.3 million.
Net income attributable to common shareholders increased by 57% to $27.4 million.
GAAP EPS increased by 55% to $0.51.
Non-GAAP EPS increased by 32% to $0.54.
Revenue by Segment
Forward Guidance
Ameresco is on track to achieve record results in 2022 and sees high energy prices, customer demand, and the Inflation Reduction Act as long-term growth catalysts. The company reiterates its 2022 guidance.
Positive Outlook
- Year-to-date results position the company to achieve record results in 2022.
- High energy prices are seen as a long-term growth catalyst.
- Customer demand for resilience and cost savings is a growth driver.
- The Inflation Reduction Act (IRA) is expected to be a long-term growth catalyst.
- Company is on track to achieve 2024 Adjusted EBITDA target of $300 million.
Challenges Ahead
- Supply chain environment requires adaptation.
- SCE projects schedule adjustments into 2023.
- Potential costs associated with SCE schedule adjustment.
- Discussions regarding force majeure relief with SCE.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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