Ameresco
Builds and operates efficiency, renewable-energy and resilient infrastructure for public and commercial customers.
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Profile
Designs, builds, finances and operates energy-efficiency upgrades, distributed generation, storage and renewable-energy assets for public and commercial customers across North America and Europe. Most revenue comes from projects, supplemented by owned assets and long-term operations and maintenance.
Designs and builds energy-efficiency projects, aging-infrastructure upgrades, distributed generation and battery storage. Work spans North America and Europe through North America Regions, U.S. Federal and Europe operations, serving governments, utilities, institutions, data centers and commercial customers.
Earns mainly from Projects, supplemented by Energy Assets, Operations and Maintenance, and Other solutions including integrated solar products and consulting. The model combines engineering and construction with energy savings performance contracts, power purchase agreements and long-term plant operation. Renewable Fuels now sits in Neogenyx Fuels, a majority-owned joint venture for biogas assets.
Execution depends on converting awards into signed contracts, arranging financing, managing construction costs and keeping owned plants available. Government appropriations, permits and energy-policy changes shape project timing and asset economics.
Company facts
Categories
Key statistics
Year to date −28.2% · Average volume (30d) 746.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $45 | $36 | |
| Aug 18, 2026 | Baird | Downgrade | Outperform | Neutral | ||
| Aug 4, 2026 | Canaccord Genuity | Reiterate | Buy | $50 | $62 | |
| Aug 4, 2026 | Exane BNP Paribas | Upgrade | Neutral | Outperform | ||
| Aug 4, 2026 | BNP Paribas | Upgrade | Neutral | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.20 | $0.20 | +1.1% | $465.2M | $515.5M | +10.8% | +22.92% |
| May 4, 2026Q1 FY26 | −$0.27 | −$0.33 | −22.2% | $362.9M | $401.5M | +10.6% | −2.22% |
| Mar 2, 2026Q4 FY25 | $0.32 | $0.39 | +21.9% | $556.1M | $581.0M | +4.5% | −9.85% |
| Nov 3, 2025Q3 FY25 | $0.26 | $0.35 | +34.6% | $556.5M | $526.0M | −5.5% | −9.30% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $352.8M | $472.3M | $526.0M | $581.0M | $401.5M | $515.5M | |
| Gross profit | $51.9M | $73.4M | $84.3M | $94.4M | $56.5M | $91.3M | |
| Operating income | $13.4M | $27.6M | $41.0M | $46.5M | $10.1M | $43.8M | |
| Net income | −$5.5M | $12.9M | $18.5M | $18.4M | −$18.3M | $9.7M | |
| Diluted EPS | −$0.10 | $0.24 | $0.35 | $0.34 | −$0.35 | $0.18 | |
| Gross margin | 14.7% | 15.5% | 16.0% | 16.2% | 14.1% | 17.7% | |
| Operating margin | 3.8% | 5.8% | 7.8% | 8.0% | 2.5% | 8.5% |
Fiscal years (4-quarter sums)FY21 $1.22B · FY22 $1.82B · FY23 $1.37B · FY24 $1.77B · FY25 $1.93B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $138.3M · Total debt $2.02B · Total assets $4.83B · Shareholders' equity $1.35B
Dividends
No dividends on record.
Ownership
Shares outstanding 53.06M · Float 48.52M · 91.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Wellington Management Group LLP | 3.37M | 6.36% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 2.65M | 5.00% | 13F | Aug 7, 2026 |
| Grantham, Mayo, van Otterloo & Co. LLC | 2.03M | 3.83% | 13F | Aug 13, 2026 |
| Millennium Management LLC | 1.82M | 5.20% | 13G | Jul 22, 2026 |
| Dimensional Fund Advisors LP | 1.60M | 3.02% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | George P. Sakellaris | director, 10 percent owner, officer: Chief Executive Officer | +4,000 | $22.84 |
| Aug 26, 2026 | George P. Sakellaris | director, 10 percent owner, officer: Chief Executive Officer | +1,000 | $21.92 |
| Aug 25, 2026 | George P. Sakellaris | director, 10 percent owner, officer: Chief Executive Officer | +5,000 | $21.95 |
| Aug 24, 2026 | George P. Sakellaris | director, 10 percent owner, officer: Chief Executive Officer | +5,000 | $20.91 |
| Aug 24, 2026 | Joseph W. Sutton | director | +9,700 | $20.87 |
Peers
- Johnson Controls
Smart-building and ESCO work across institutional facilities
- Honeywell Technologies
Building automation and federal energy modernization overlap
- Carrier Global
NORESCO creates direct federal ESCO and DER overlap
- Willdan Group
Energy-efficiency services for utilities and governments overlap
- EMCOR Group
Building O&M, retrofits, and energy systems services overlap
- OPAL
Landfill-gas RNG production and distribution overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ameresco | $21.99 | −0.09% | $1.17B | 42.3 | 15.5 | 0.6 | +9.1% |
| Johnson Controls | $139.59 | +0.01% | $84.56B | 24.3 | 24.2 | 3.4 | +9.3% |
| Honeywell Technologies | $217.85 | +0.18% | $68.91B | 8.4 | 23.7 | 1.9 | −49.9% |
| Carrier Global | $58.46 | −0.55% | $48.46B | 40.8 | 19.2 | 2.2 | +3.9% |
| Willdan Group | $87.99 | 0.00% | $1.33B | 20.7 | 17.6 | 1.8 | −32.4% |
| EMCOR Group | $736.60 | −0.41% | $32.65B | 23.1 | 21.2 | 1.8 | +19.8% |
| OPAL | $2.05 | +0.14% | $58.3M | — | 2.2 | 0.2 | +7.4% |
| Median | 23.1 | 20.2 | 1.8 | +5.6% |