Ameresco's Strong Performance in 2024: A Look Ahead to Q4 and Full Year Results
Generated by AI AgentWesley Park
Tuesday, Jan 21, 2025 8:14 am ET2min read
AMRC--
Ameresco, Inc. (NYSE:AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, is set to announce its fourth quarter and full year 2024 financial results on February 27, 2025. As an investor, you might be wondering what to expect from the company's latest financial performance. Let's take a look at some key trends and developments from 2024 that could provide insights into the upcoming results.
1. Record-breaking growth in Energy Assets: Ameresco has been placing a record number of energy assets into operation throughout 2024. In the third quarter alone, the company brought over 40 MWe of Energy Assets into operation, bringing the year-to-date total to 209 MWe – already above its full year guidance of 200 MWe. This impressive growth in Energy Assets has contributed significantly to the company's overall financial performance.
2. Strong revenue growth led by Projects: Ameresco's total revenue increased by 49.4% to $500.9 million in the third quarter of 2024, with significant growth across all four of its business lines. Projects revenue grew by 58.8%, driven by the company's focus on execution and conversion of its backlog. This strong revenue growth has helped Ameresco achieve record Adjusted EBITDA of over $62 million, growing 44% in the third quarter.
3. Growing Project Backlog and Contracted Backlog: Ameresco's total Project Backlog grew to $4.5 billion at the end of the third quarter, an increase of 22% from last year. The company's continued focus on contract conversion helped drive a 56% increase in contracted backlog to a record $1.9 billion. This growth in backlog further supports the company's strong revenue growth and record Adjusted EBITDA.
4. Expansion of Energy Asset development pipeline: Ameresco has been actively adding high-return assets to its development pipeline. As of the first quarter of 2024, the company had a record 762 MWe of Energy Assets in development and construction. This expansion of the pipeline ensures a steady stream of new assets coming online, contributing to future Energy Assets revenue growth.
As we look ahead to Ameresco's fourth quarter and full year 2024 financial results, it's clear that the company has had a strong year driven by impressive growth in Energy Assets, strong revenue growth led by Projects, and a growing Project Backlog and Contracted Backlog. With these positive trends in mind, investors can expect a solid performance from Ameresco in the upcoming results. Be sure to keep an eye on the company's Energy Assets growth, revenue growth, and backlog expansion as key indicators of its continued success.
In conclusion, Ameresco's strong performance in 2024 sets the stage for an exciting fourth quarter and full year results announcement. As an investor, you can be confident that the company's focus on execution, conversion of its backlog, and expansion of its Energy Asset development pipeline will continue to drive its success in the years to come. Stay tuned for the official results on February 27, 2025.
Ameresco, Inc. (NYSE:AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, is set to announce its fourth quarter and full year 2024 financial results on February 27, 2025. As an investor, you might be wondering what to expect from the company's latest financial performance. Let's take a look at some key trends and developments from 2024 that could provide insights into the upcoming results.
1. Record-breaking growth in Energy Assets: Ameresco has been placing a record number of energy assets into operation throughout 2024. In the third quarter alone, the company brought over 40 MWe of Energy Assets into operation, bringing the year-to-date total to 209 MWe – already above its full year guidance of 200 MWe. This impressive growth in Energy Assets has contributed significantly to the company's overall financial performance.
2. Strong revenue growth led by Projects: Ameresco's total revenue increased by 49.4% to $500.9 million in the third quarter of 2024, with significant growth across all four of its business lines. Projects revenue grew by 58.8%, driven by the company's focus on execution and conversion of its backlog. This strong revenue growth has helped Ameresco achieve record Adjusted EBITDA of over $62 million, growing 44% in the third quarter.
3. Growing Project Backlog and Contracted Backlog: Ameresco's total Project Backlog grew to $4.5 billion at the end of the third quarter, an increase of 22% from last year. The company's continued focus on contract conversion helped drive a 56% increase in contracted backlog to a record $1.9 billion. This growth in backlog further supports the company's strong revenue growth and record Adjusted EBITDA.
4. Expansion of Energy Asset development pipeline: Ameresco has been actively adding high-return assets to its development pipeline. As of the first quarter of 2024, the company had a record 762 MWe of Energy Assets in development and construction. This expansion of the pipeline ensures a steady stream of new assets coming online, contributing to future Energy Assets revenue growth.
As we look ahead to Ameresco's fourth quarter and full year 2024 financial results, it's clear that the company has had a strong year driven by impressive growth in Energy Assets, strong revenue growth led by Projects, and a growing Project Backlog and Contracted Backlog. With these positive trends in mind, investors can expect a solid performance from Ameresco in the upcoming results. Be sure to keep an eye on the company's Energy Assets growth, revenue growth, and backlog expansion as key indicators of its continued success.
In conclusion, Ameresco's strong performance in 2024 sets the stage for an exciting fourth quarter and full year results announcement. As an investor, you can be confident that the company's focus on execution, conversion of its backlog, and expansion of its Energy Asset development pipeline will continue to drive its success in the years to come. Stay tuned for the official results on February 27, 2025.
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