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Ameresco sees growth in Q2 adjusted EBITDA, revenue

Ameresco Inc. on Aug. 9 reported second-quarter 2017 adjusted EBITDA of $15.4 million, a 17% increase from $13.2 million in the comparable quarter of 2016.

The company posted second-quarter non-GAAP EPS 13 cents, compared to 8 cents in the year-ago period. Adjusted cash from operations was an inflow of $19.3 million during the most recent quarter, compared to an outflow of $2.3 million a year ago.

"We had a solid quarter, with profit growth on track to meet the expectations we set out at the start of the year," CEO George Sakellaris said in the company's earnings release. "The results highlight several attractive elements of Ameresco's business model, including visibility, larger more complex projects, geographic penetration and an expanding portfolio of energy-producing assets."

Ameresco recorded second-quarter revenue of $166.7 million, up from $162.6 million a year ago. Operating income also improved year over year to $8.8 million, from $4.7 million in the comparable quarter of 2016.

The company posted net income attributable to common shareholders of $5.8 million, or 13 cents per share, compared to $2.0 million, or 4 cents per share, in the second quarter of 2016.

Ameresco continues to target full-year 2017 revenue in the range of $665 million to $700 million and adjusted EBITDA in the range of $60 million to $65 million. It expects net income per share in the range of 37 cents to 43 cents.