Ameresco, Inc. - AMRC STOCK NEWS

Ameresco, Inc. (NYSE:AMRC) announced that its Senior VP and CFO, Doran Hole, will participate in a fireside chat at the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021, at 1:00 PM ET. This event will include virtual investor meetings throughout the day. Interested parties can access the webcast at this link. Founded in 2000, Ameresco specializes in energy efficiency and renewable energy solutions, supporting clients in their pursuit of Net Zero.

Ameresco (NYSE:AMRC) reported robust financial results for Q2 2021, with total revenue rising 23% to $273.9 million, supported by growth across all business lines. Operating income surged 66% to $21.4 million, while net income reached $13.7 million with a GAAP EPS of $0.26. The company expanded its Energy Assets portfolio by 33 MWe, reflecting a shift towards high-margin recurring revenue streams. With a stable project backlog of $2.2 billion and positive outlook for future growth, Ameresco reaffirmed its 2021 revenue guidance of $1.11-$1.16 billion and Non-GAAP EPS growth of 20%.

Ameresco, Inc. (NYSE: AMRC) has successfully completed a £1.1 million solar PV project for the U.K. Ministry of Justice, providing energy savings of 427,602 kWh annually, equivalent to a carbon reduction of 106.2 tonnes. The project, which began construction in December 2020, involved the installation of rooftop solar at seven courts and three prisons, ensuring no disruption to operations during the pandemic backlog. Ameresco will provide 12 months of operations and maintenance support, aligning with the Ministry's sustainability goals to decarbonize federal buildings.

Ameresco, Inc. (NYSE: AMRC) has appointed Claire Hughes Johnson to its Board of Directors. Johnson, with over 20 years of experience in technology, is recognized for her leadership at Stripe, where she significantly contributed to the company's growth. Her prior role at Google included key projects like Gmail and Google Apps. The board also sees the departure of David Anderson, a co-founder, who will continue in a strategic advisory capacity. Chairman George Sakellaris emphasized the importance of diverse perspectives as the company aims to accelerate growth in the cleantech sector.

Ameresco, Inc. (NYSE:AMRC) announced the start of commercial operations for its landfill gas to renewable natural gas plant at Republic Services’ McCarty Road Landfill in Houston, Texas. With a gross nameplate capacity exceeding 1.1 million Dekatherms per year, the facility processes 4,500 scfm of raw landfill gas. The project, initiated in Q2 2020, faced challenges due to the pandemic and hurricanes but was completed ahead of schedule. This initiative is projected to reduce CO₂ emissions by over 61,000 tons annually, aiding Republic Services in its sustainability goals.

Ameresco (NYSE: AMRC) completed an energy conservation project in partnership with Carmarthenshire County Council, enhancing the council's energy infrastructure. This initiative aims to meet the council's target of zero-carbon emissions by 2030. Key improvements include LED lighting, insulation, and solar PV installations, projected to save over two million kWh annually, equating to approximately $388,000 in cost savings and a reduction of 675 tonnes of CO2 emissions. The first phase was completed in March 2021.

Ameresco, Inc. (NYSE:AMRC) announced it will release its Q2 2021 financial results after market close on August 2, 2021. A conference call will follow at 4:30 p.m. ET, where supplemental financial information will also be provided. Participants can access the call via phone or a live webcast on the Investor Relations section of Ameresco's website. Founded in 2000, Ameresco is a cleantech integrator and renewable energy developer specializing in energy efficiency and sustainability solutions across North America and the UK.