Ameresco Reports First Quarter 2025 Financial Results

Ameresco, Inc., a leading energy solutions provider, has released its financial results for the first quarter of 2025. The company reported significant growth in revenue and adjusted EBITDA, despite facing some challenges. The results were detailed in an SEC 8-K filing, providing insights into the company's financial health and operational performance.

Financial Highlights

For the first quarter of 2025, Ameresco reported revenues of $352.8 million, an 18% increase compared to the same period last year. The company experienced a net loss attributable to common shareholders of $5.5 million, translating to a GAAP EPS of ($0.10) and a non-GAAP EPS of ($0.11). Adjusted EBITDA saw a substantial increase of 32%, reaching $40.6 million.

Business and Operational Highlights

Ameresco's Projects and Energy Assets segments showed strong performance, with Projects revenue growing by 23% to $251.5 million and Energy Assets revenue increasing by 31% to $56.7 million. The company's total project backlog rose by 22% to $4.9 billion, and the contracted backlog surged by 78% to $2.6 billion. The company also reported a total revenue visibility of nearly $10 billion.

Strategic Initiatives and Corporate Developments

During the quarter, Ameresco added over $367 million to its awarded backlog and converted $334 million of awards into contracts. The company also extended and increased its revolving credit facility and term loan with Bank of America, enhancing its financial flexibility. Additionally, Ameresco successfully executed approximately $334 million in project financing commitments to support its Energy Asset business.

Management's Perspective

CEO George Sakellaris highlighted the strong start to the year, noting the double-digit growth in both the Projects and Energy Asset businesses. He emphasized the company's increased revenue visibility and resilience, driven by robust contract conversion and asset deployments. Sakellaris also addressed the challenges posed by changing tariff dynamics and the company's efforts to mitigate their impact.

Future Outlook

Ameresco reiterated its 2025 revenue and adjusted EBITDA guidance, projecting revenues between $1.85 billion and $1.95 billion and adjusted EBITDA between $225 million and $245 million. The company expects the second half of 2025 to account for approximately 60% of its total revenue, with Q2 revenue anticipated to be in the range of $400 million to $425 million.

SEC Filing: Ameresco, Inc. [ AMRC ] - 8-K - May. 05, 2025