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Ameresco Q4, FY'17 earnings grow YOY

Ameresco Inc. on March 6 reported fourth-quarter 2017 adjusted EBITDA of $21.1 million, up from $14.4 million in the fourth quarter of 2016.

The Framingham, Mass.-based construction and engineering company posted fourth-quarter 2017 non-GAAP net income of $22.1 million, or 48 cents per share, compared to $3.5 million, or 8 cents per share, in the fourth quarter of 2016.

Ameresco reported fourth-quarter revenue of $211.1 million, up from $174.2 million in the fourth quarter of 2016. Operating income improved year over year to $14.1 million, from $7.3 million in the fourth quarter of 2016.

The company posted net income attributable to common shareholders of $23.8 million, or 52 cents per share, compared to $3.3 million, or 7 cents per share, in the fourth quarter of 2016.

For full-year 2017, Ameresco posted adjusted EBITDA of $63.3 million, compared with $56.2 million in 2016.

Ameresco recorded 2017 non-GAAP net income of $35.0 million, or 76 cents per share, compared to $16.8 million, or 36 cents per share, in 2016.

Ameresco reported revenue of $717.2 million, up from $651.2 million in 2016. Operating income improved year over year to $36.6 million, from $23.8 million in 2016.

The company posted net income attributable to common shareholders of $37.5 million, or 82 cents per share, compared to $12.0 million, or 26 cents per share, in 2016.

Total construction backlog was $1.77 billion as of Dec. 31, 2017, up from $1.49 billion in the comparable period of 2016.

Ameresco revised its full-year 2018 outlook and now expects to earn revenue of $765 million to $800 million, adjusted EBITDA of $75 million to $85 million and EPS of 55 cents to 65 cents.