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Dec 31, 2021
Ameresco Q4 2021 Earnings Report
Reported strong Q4 performance capping another year of robust growth and profitability.
Key Takeaways
Ameresco reported a strong fourth quarter and full year 2021, with revenue up 32% and net income attributable to common shareholders up 20% for the quarter. The company's record total backlog and recurring revenue streams provide multi-year revenue visibility of over $5 billion.
Revenues of $415.9 million, up 32%.
Net income attributable to common shareholders of $28.2 million, up 20%.
GAAP EPS of $0.53, up 13%.
Non-GAAP EPS of $0.50, up 6%.
Ameresco
Ameresco
Ameresco Revenue by Segment
Revenue by Segment
Projects Revenue
CapyFin.comEnergy Assets Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Ameresco expects another year of strong growth in 2022, with revenues in the range of $1.83 billion to $1.87 billion and Non-GAAP EPS to range from $1.85 to $1.95.
Positive Outlook
- Revenue between $1.83 billion and $1.87 billion.
- Adjusted EBITDA between $200 million and $210 million.
- Non-GAAP EPS between $1.85 and $1.95.
- Placing between 60 and 80 MWe of energy assets in service.
- Investing approximately $225 million to $275 million in capital.
Challenges Ahead
- First quarter revenue will be sequentially flat with Q4 2021.
- Total gross margin at approximately 14.5% for Q1.
- Revenue from the SCE BESS project is expected to peak during the second quarter.
- Total gross margin for the second quarter expected to be closer to 14.0%.
- Third quarter total revenue is expected to look similar to the first quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income