Last $8.12 USD
Change Today -0.25 / -2.99%
Volume 90.5K
AMRC On Other Exchanges
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As of 4:15 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

ameresco inc-cl a (AMRC) Key Developments

Ameresco, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Fiscal Year Ending December 31, 2014

Ameresco, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company’s total Revenues were $142.6 million, compared to $126.3 million in 2013, or an increase of 13%. Operating income was $3.8 million, compared to an operating loss of $1.9 million in 2013. Adjusted EBITDA, a non-GAAP financial measure, was $10.3 million, compared to $3.3 million in 2013. Net income was $2.7 million, compared to a net loss of $1.8 million in 2013. Net income per diluted share was $0.06, compared to a net loss per share of $0.04 in 2013. Income before provision for income taxes was $2.986 million against loss before provision for income taxes of $2.358 million for the same period a year ago. Cash flow from operating activities was $3.582 million against cash used in operating activities of $5.327 million for the same period a year ago. Purchases of property and equipments were $0.929 million against $0.446 million for the same period a year ago. The improvement in revenue was primarily due to an acceleration of revenue recognition for projects in construction and 4 new renewable energy plants that were placed into operation during the first half of 2014. For the six months, revenues were $243.3 million, compared to $236.4 million in 2013, or an increase of 3%. The year-to-date 2014 operating loss was $3.0 million, compared to an operating loss of $4.0 million in 2013. Year-to-date 2014 adjusted EBITDA was $9.4 million, compared to $7.6 million in 2013. The year-to-date 2014 net loss was $5.6 million, compared to a net loss of $3.7 million in 2013. Year-to-date 2014 net loss per basic and diluted share was $0.12, compared to a net loss per share of $0.08 in 2013. Loss before provision for income taxes was $5.531 million against $4.905 million for the same period a year ago. Cash flow from operating activities was $5.934 million against cash used in operating activities of $38.947 million for the same period a year ago. Purchases of property and equipments were $1.195 million against $1.540 million for the same period a year ago. Purchases of project assets were $10.970 million against $31.619 million for the same period a year ago. Adjusted free cash flow was $18.7 million for the year-to-date, which reflects $14 million in proceeds from Federal ESPC projects. The company reaffirmed its revenue guidance for the fiscal year ending December 31, 2014. For the period, the company continues to expect to earn revenues in the range of $560 million to $600 million in 2014 and net income in the range of $8 million to $14 million. The company expects the effective tax rate in 2014 to be in the range of between 1% and 3%.

Ameresco, Inc. to Report Q2, 2014 Results on Jul 31, 2014

Ameresco, Inc. announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Jul 31, 2014

Ameresco, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Ameresco, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Ameresco, Inc. Presents at Jefferies 2014 Global Industrials Conference, Aug-12-2014 04:30 PM

Ameresco, Inc. Presents at Jefferies 2014 Global Industrials Conference, Aug-12-2014 04:30 PM. Venue: Grand Hyatt, 109 E. 42nd St., New York, New York, United States. Speakers: George P. Sakellaris, Founder, Chairman, Chief Executive Officer and President.

Army National Guard Awards Energy Savings Performance Contract for Ameresco, Inc

Ameresco, Inc. announced that the Army National Guard has awarded the company an Energy Savings Performance Contract (ESPC) task order to improve the energy efficiency of the Army National Guard headquarters in Arlington, Virginia, just outside of Washington, D.C. The budget-neutral project utilizes its master ESPC with the Department of Energy and is expected to reduce the headquarters' energy consumption by over 20% through IT system efficiencies and upgrades to the headquarters' lighting and cooling systems. As part of the ESPC, the company will install five major energy conservation measures (ECMs) across 500,000 square feet of office space to reduce total site energy consumption by 21%. The ESPC is expected to yield energy and operations and maintenance (O&M) savings of more than $738,000 annually. One primary measure to reduce electrical demand addresses IT systems by virtualizing over 3,000 PC desktop workstations and streamlining print management. This IT improvement will save electricity by using low-power terminals versus personal computers.

 

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