Ameresco Q4 2024 Earnings Report
Key Takeaways
Ameresco reported strong Q4 2024 results with a 20.7% increase in total revenue to $532.7 million. The company divested its AEG business unit and saw growth across all business lines, driven by project execution and energy asset placements. Net income attributable to common shareholders increased by 14.6% to $37.1 million, and adjusted EBITDA rose by 58.7% to $87.2 million.
Total revenue increased by 20.7% to $532.7 million.
Net income attributable to common shareholders increased 14.6% to $37.1 million.
Adjusted EBITDA increased 58.7% to $87.2 million.
Record Q4 contract conversions of $1.1 billion drove Y/Y contracted backlog up 92%
Ameresco
Ameresco
Ameresco Revenue by Segment
Forward Guidance
Ameresco anticipates continued long-term profitable growth in 2025, with revenue guidance of $1.9 billion and adjusted EBITDA of $235 million at the midpoints of the ranges. The company expects to place approximately 100-120 MWe of energy assets in service and foresees growing contributions from its European business.
Positive Outlook
- Continued long-term demand for budget-neutral, cost-saving solutions.
- Growing need for resilient, reliable power and infrastructure upgrades.
- Growing contributions from European business.
- Expects continued growth in recurring energy assets and O&M businesses
- Company is well-positioned for continued long term profitable growth
Challenges Ahead
- Federal projects will be impacted as the new administration determines funding priorities.
- Potential impact of project cancellations, pauses and re-scopes.
- First quarter revenue and Adjusted EBITDA will be similar to Q1 last year with negative EPS.
- Potential impact of a change in accounting principle related to sale-leaseback arrangements is currently being assessed.
- Unpredictable political and regulatory environment