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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.
Ameresco
Ameresco
Ameresco Revenue by Segment
Ameresco Revenue by Geographic Location
Revenue by Segment
Projects Revenue
CapyFin.comEnergy Assets Revenue
CapyFin.comO&M Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
Europe Revenue
CapyFin.com 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.
- SCE projects expected to achieve substantial completion prior to the summer of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income