Ameresco (AMRC) Q2 2026 Earnings Call Transcript
Ameresco (AMRC) reported Q2 2026 revenue of $515.5 million, up 9%, with project revenue $380.9 million, energy asset revenue $75.9 million, and O&M revenue $36.2 million. Total backlog rose to $6.7 billion. Gross margin was 17.7% and non-GAAP EPS was $0.20. Guidance: revenue $2.0-$2.2B and adjusted EBITDA $250-$270M.
How this was made
The 30-second read
Why it matters
Key trading inputs are raised non-GAAP EPS guidance, reaffirmed revenue and adjusted EBITDA ranges, record awarded backlog (especially data center on-site power), and a cash flow headwind from working capital timing.
Market read
Traders can update models using the raised EPS guidance, record backlog growth, and the disclosed cash flow timing risk.
What to watch
Adjusted cash from operations was negative due to working-capital timing, which could delay equity re-rating if collections or billings lag.
Background
Ameresco’s Q2 2026 earnings call covers results, backlog, operating asset deployment, and guidance, including a shift in accounting for transferable tax credits.
Ticker impact
Ameresco reported Q2 2026 revenue of $515.5M, non-GAAP EPS $0.20, and raised full-year revenue guidance to $2.0B-$2.2B.
Likely modest positive bias on guidance and backlog, with volatility around cash flow and EPS normalization.
The call discloses raised EPS guidance ($1.15-$1.35) tied to a tax benefit, reaffirmed revenue and EBITDA ranges, and a large backlog increase, but also shows negative adjusted cash from operations in Q2 and EPS below the prior-year quarter.
Market effects
Reinforces demand for on-site power and data-center energy infrastructure, potentially supporting sentiment for energy services and distributed generation peers.
Highlights active project execution in North America and Europe (Greece solar, Canada storage), which may influence regional contractor/order expectations.
Data-center power buildout and hyperscaler on-site power solutions remain a cross-border theme, but the disclosure is company-specific.
Counterpoint
The EPS guidance increase is driven by an expected tax benefit, so operating momentum may be less strong than headline EPS implies.
Key entities
- companyAmeresco
US-listed energy infrastructure and services provider reporting Q2 2026 results and guidance.
- projectNapanee Battery Energy Storage System
250 MW battery energy storage project brought online in Canada during the quarter.
- financingNeogenyx transaction
$400M component of $471M new financing commitments referenced to support growth.
