Energy and renewable energy projects company Ameresco (NYSE: AMRC) will be announcing earnings results tomorrow after market close. Here’s what to look for.
Ameresco beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $532.7 million, up 20.7% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations.
Is Ameresco a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ameresco’s revenue to grow 2.9% year on year to $307.2 million, slowing from the 10.1% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.25 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ameresco has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Ameresco’s peers in the construction and engineering segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Quanta delivered year-on-year revenue growth of 23.9%, beating analysts’ expectations by 6.2%, and Comfort Systems reported revenues up 19.1%, topping estimates by 4.2%. Quanta traded up 9.8% following the results while Comfort Systems was also up 5.6%.
Read our full analysis of Quanta’s results here and Comfort Systems’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 13% on average over the last month. Ameresco is up 18.8% during the same time and is heading into earnings with an average analyst price target of $22 (compared to the current share price of $12).
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