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Dec 31, 2020
Ameresco Q4 2020 Earnings Report
Reported record revenue and profits, driven by strength in Federal Projects Group and growth in Energy Asset and O&M recurring revenue businesses.
Key Takeaways
Ameresco reported a 3% increase in revenue to $314.3 million and a net income of $23.5 million for the fourth quarter of 2020. The company's performance was driven by continued strength in the Federal Solutions Group and growth in recurring revenue businesses.
Revenues increased 3% to $314.3 million.
Net income attributable to common shareholders increased to $23.5 million.
GAAP EPS increased to $0.47.
Adjusted EBITDA increased 21% to $35.7 million.
Ameresco
Ameresco
Forward Guidance
Ameresco expects revenues in the range of $1.1 billion to $1.15 billion and Adjusted EBITDA of $135 million to $145 million for 2021. Non-GAAP EPS is expected to range from $1.18 to $1.26.
Positive Outlook
- Revenues in the range of $1.1 billion to $1.15 billion.
- Adjusted EBITDA of $135 million to $145 million.
- Non-GAAP EPS to range from $1.18 to $1.26.
- Commissioning between 60 to 80 MWe of energy assets.
- Substantial growth opportunities with the focus on low to no carbon energy solutions.
Challenges Ahead
- Long-term budgetary impacts of the COVID-19 pandemic.
- Uncertainties with respect to the impact of accounting for redeemable non-controlling interests and taxes.
- Potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, on our financial condition.
- Dependence on future developments which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic.
- Actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures.