Ameresco (AMRC) investor relations material

Executive summary

• Achieved record $1.8B in new project awards, primarily driven by data center power infrastructure projects, and closed the Neogenyx JV with HASI, securing $400M in external capital.

• Q2 2026 revenue grew 9% year-over-year to $515.5M, with broad-based growth across all core business lines and strong gains in U.S. Federal, Europe, and Renewable Fuels segments.

• Net income attributable to common shareholders was $9.7M ($0.18 per diluted share), with Non-GAAP EPS of $0.20, impacted by higher non-controlling interest allocations.

• Adjusted EBITDA rose 12% to $62.8M, with Assets contributing 55% and O&M 16%.

• Total backlog increased 32% year-over-year to $6.73B, providing strong multi-year revenue visibility.

Financial highlights

• Q2 2026 gross profit increased 24.5% year-over-year to $91.3M, with gross margin rising to 17.7%.

• Project revenue was $380.9M (up 6%), Energy Asset revenue $75.9M (up 21%), and O&M revenue $36.2M (up 29%).

• Adjusted EBITDA margin reached 12.2% for the quarter.

• Cash and cash equivalents at June 30, 2026 were $138.3M; total corporate debt at $384.8M.

• Net debt at June 30, 2026: $1.79B (long-term portion).

Outlook and guidance

• Reaffirmed full-year 2026 guidance across all metrics, with increased Non-GAAP EPS guidance to $1.15–$1.35.

• FY 2026 revenue guidance range: $2.0–$2.2B; gross margin 17–18%; adjusted EBITDA $250–$270M.

• Effective tax rate expected between 25%–40% due to new accounting policy for transferable tax credits.

• Second half expected to follow normal seasonal cadence, with activity weighted toward Q4.

• Capital expenditures for the remainder of 2026 projected at $120M–$170M, with $50M–$75M for the Neogenyx JV.