Ameresco(DE:4AM)
€23.30-0.40 (-1.69%)
DE:4AM
Ameresco earnings date
€23.30
At close:-0.40 (-1.69%)
Ameresco (4AM) Q3 2026 Earnings Report
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DE:4AM Q3 2026 EPS Results
- Actual EPS
- EUR 0.80
- Consensus EPS
- EUR 0.52
- Beat/Miss
- Beat by +EUR 0.28
- One Year Ago EPS
- EUR 0.32
DE:4AM Q3 2026 Revenue Results
- Actual Revenue
- EUR 526.43M
- Expected Revenue
- EUR 519.70M
- Beat/Miss
- Beat by +EUR 6.73M
- YoY Revenue Growth
- +10.33%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/09/2026
- Time
- After Close
- Conference Call
- Monday, November 9, 2026
DE:4AM Upcoming Earnings
Ameresco's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:4AM Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with broad-based revenue growth, record project awards, substantial backlog expansion, improving gross margin, solid liquidity and continued momentum across federal, C&I, European, data center, recurring revenue and energy asset businesses. The company also reported progress on nuclear and on-site power initiatives. Key challenges included temporary plant outages, supply chain cost increases, development milestones for data center projects, variable O&M margins and accounting-related quarter-to-quarter variability, but management stated that the operational outlook remained unchanged.
Company Guidance
Ameresco provided Q4 guidance and updated its full year 2026 guidance to reflect the accounting changes and inclusion of 100% of the operating results of its consolidated joint ventures in non-GAAP EPS and adjusted EBITDA, with no change to its operational outlook; full year adjusted EBITDA and non-GAAP EPS guidance would have otherwise been unchanged. Consolidated gross margin guidance was 17% to 18%, described as potentially a little conservative for the year, while O&M margins were not expected to consistently remain at the mid-20s percent EBITDA margin level for modeling. For the five data center projects in awarded backlog, 12 to 18 months was on target for conversion to contracted backlog, subject to permitting, finalizing contracts with customers and locking in equipment.
- Strong Q3 Execution and New Business ActivityManagement reported strong momentum and excellent execution across all business lines. Contract conversions reached $737 million during the quarter, described as one of the highest amounts in the company's history, and momentum continued into the fourth quarter.
- Record Project Awards and Backlog GrowthNew project awards totaled $875 million, one of the company's strongest quarters for awards on record. Awarded backlog exceeded $4.5 billion, over 70% higher than the same period last year.
- Backlog Conversion and Revenue VisibilityTotal awarded and contracted backlog grew to nearly $7.2 billion, up almost 40% from the same period last year, providing revenue visibility for many years. Contract conversions were strong across federal, Canada, Europe, C&I and utility-related markets.
- Diversified Sources of New AwardsFederal, C&I and European projects represented approximately $675 million, or over 75%, of new awards during the quarter. Approximately $200 million was added to awarded backlog from data center project scope expansion.
- Q3 Revenue Growth Across Business LinesTotal revenue increased 10% to $580 million. Project revenue increased 9% to $446 million, with particular strength from Federal, C&I and the SUNEL joint venture.
- Energy Assets and O&M GrowthEnergy asset revenue grew 21% to $75 million, supported by expansion of the owned operating asset portfolio. O&M revenue increased 20% to $37 million, while the O&M backlog exceeded $1.5 billion.
- Growing Operating Energy Asset BaseThe operating energy asset base stood at 827 megawatts, with another 500 megawatts in development. Management said the recurring revenue businesses, energy assets and O&M, have become a material component of the overall business.
- Gross Margin ExpansionGross margin expanded to 18.7%, with meaningful improvement sequentially and year over year. Management attributed the improvement to favorable business mix, strong execution, energy assets placed in service and a strategic focus on higher-margin projects.
- Positive Earnings PerformanceNet income attributable to common shareholders was $31.9 million, or $0.59 per diluted share. Non-GAAP EPS was $0.88, and adjusted EBITDA increased to $92 million under the company's updated full-consolidation presentation.
- Solid Balance Sheet and New FinancingUnrestricted cash was $129 million, total corporate debt was $380 million, and corporate leverage was 2.9x, comfortably below the 3.5x covenant. The company secured $106 million of new financing commitments during the quarter.
- Operational Outlook Remained UnchangedThe company updated its fourth-quarter and full-year 2026 guidance to reflect accounting changes and the inclusion of 100% of consolidated joint venture operating results. Management stated that the guidance changes did not reflect a change in the operational outlook and that adjusted EBITDA and non-GAAP EPS guidance otherwise would have been unchanged.
- Federal Business MomentumThe federal business experienced record growth from large energy efficiency and infrastructure projects with military and civilian agencies. Contract conversions included projects with the Department of Veterans Affairs, Coast Guard and Army sites.
- Data Center Expansion OpportunityManagement said data center projects benefit from on-site and, in some cases, islanded power that does not place additional strain on the grid or electricity prices in the community. The company has approximately 10 data center opportunities, five in awarded backlog, and expects the five awarded projects to move toward contracted backlog over 12 to 18 months.
- Data Center Pipeline and Technology FlexibilityManagement said the data center pipeline continues to benefit from growth in the AI market and increasing demand for behind-the-meter solutions. Current projects use combinations of fuel cells, reciprocating engines and simple-cycle turbines, with potential future use of combined-cycle technology, solar and battery storage.
- Nuclear and Army Project DevelopmentAmeresco announced work with the Army on on-site nuclear power generation projects and signed its first EPC contract for balance-of-plant work on a microreactor project. The company is working with several nuclear technology companies and expects phased development involving battery storage, fuel cells, microreactors and potentially SMR technology.
- Strong C&I and Power Infrastructure DemandManagement reported increased C&I demand for reliable power and resiliency as electricity demand and power constraints intensify. Smaller utilities, cooperatives and industrial and commercial customers are increasingly seeking backup and on-site power solutions.
- Energy Efficiency Demand Across MarketsManagement reported strong traction for energy efficiency across colleges, universities, cities, states and commercial and industrial customers, driven by higher energy prices and aging infrastructure. The company stated that 60% to 70% of its business still comes from its core energy efficiency and related offerings.
- Expansion of Water and Controls OfferingsManagement described Pomerico water as a growing business line across the United States. The company also highlighted sophisticated building controls, said it had acquired three small building-controls companies, and stated that it intends to grow that part of the business.
- Neogenyx Partnership and Asset MonetizationManagement said it was very happy with the Neogenyx transaction and described it as important to monetizing and funding growth of energy assets. The company stated that the pipeline, business development activity and HASI's commitment remained consistent with its model.
- Long-Term Growth PositioningManagement said the combination of projects, energy assets and O&M provides diversification across end markets, customers and solutions. The company believes this supports continued profitable growth in 2027 and beyond.
DE:4AM Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | 0.79- | 0.35 | ― | ― |
| Nov 09, 2026 | 2026 (Q3) | 0.520.80 | 0.32 | 151.43% (+0.48) | |
| Aug 03, 2026 | 2026 (Q2) | 0.180.18 | 0.24 | -25.93% (-0.06) | |
| May 04, 2026 | 2026 (Q1) | -0.26-0.30 | -0.1 | -200.00% (-0.20) | |
| Mar 02, 2026 | 2025 (Q4) | 0.300.35 | 0.8 | -55.68% (-0.44) | |
| Sep 30, 2025 | 2025 (Q3) | 0.230.32 | 0.29 | 9.38% (+0.03) | |
| Aug 04, 2025 | 2025 (Q2) | 0.070.24 | 0.09 | 170.00% (+0.15) | |
| May 05, 2025 | 2025 (Q1) | -0.23-0.10 | -0.09 | -10.00% (-0.01) | |
| Feb 27, 2025 | 2024 (Q4) | 0.720.80 | 0.63 | 27.54% (+0.17) | |
| Nov 07, 2024 | 2024 (Q3) | 0.470.29 | 0.36 | -20.00% (-0.07) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
