Energy and renewable energy projects company Ameresco (NYSE: AMRC) will be announcing earnings results this Monday after market hours. Here’s what you need to know.
Ameresco beat analysts’ revenue expectations last quarter, reporting revenues of $581 million, up 9.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and full-year EBITDA guidance exceeding analysts’ expectations.
Is Ameresco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ameresco’s revenue to grow 4% year on year, slowing from the 18.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ameresco has a history of exceeding Wall Street’s expectations.
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 26.3%, beating analysts’ expectations by 11.5%, and MYR Group reported revenues up 20%, topping estimates by 7.5%. Quanta traded up 18.1% following the results while MYR Group was also up 19.9%.
Read our full analysis of Quanta’s results here and MYR Group’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 9.4% on average over the last month. Ameresco is up 28.3% during the same time and is heading into earnings with an average analyst price target of $42.60 (compared to the current share price of $30.80).
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