Energy and renewable energy projects company Ameresco (NYSE: AMRC) will be reporting results this Monday after the bell. Here’s what to look for.
Ameresco beat analysts’ revenue expectations by 13% last quarter, reporting revenues of $472.3 million, up 7.8% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Ameresco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Ameresco’s revenue to grow 3.9% year on year to $520.5 million, slowing from the 49.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.30 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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 8.5% on average.
Looking at Ameresco’s peers in the construction and engineering segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Quanta delivered year-on-year revenue growth of 17.5%, beating analysts’ expectations by 2.8%, and FTAI Infrastructure reported revenues up 68.7%, falling short of estimates by 4%. Quanta’s stock price was unchanged after the resultswhile FTAI Infrastructure was up 4.1%.
Read our full analysis of Quanta’s results here and FTAI Infrastructure’s results here.
Investors in the construction and engineering segment have had steady hands going into earnings, with share prices flat over the last month. Ameresco is up 5.9% during the same time and is heading into earnings with an average analyst price target of $37.11 (compared to the current share price of $39.52).
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