Energy and renewable energy projects company Ameresco (NYSE: AMRC) will be reporting results this Monday after the bell. Here’s what you need to know.
Ameresco beat analysts’ revenue expectations last quarter, reporting revenues of $526 million, up 5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates.
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 3.9% year on year, slowing from the 20.7% increase it recorded in the same quarter last year.
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 a history of exceeding Wall Street’s expectations.
Looking at Ameresco’s peers in the construction and engineering segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Quanta delivered year-on-year revenue growth of 19.7%, beating analysts’ expectations by 6.4%, and FTAI Infrastructure reported revenues up 77.7%, falling short of estimates by 15.2%. Quanta traded up 6.4% following the results while FTAI Infrastructure was down 9.9%.
Read our full analysis of Quanta’s results here and FTAI Infrastructure’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 5.4% on average over the last month. Ameresco is down 1.1% during the same time and is heading into earnings with an average analyst price target of $43.50 (compared to the current share price of $31.00).
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