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Ameresco’s Backlog Continues to Build

publication date: Nov 11, 2024
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Image: Ameresco’s backlog of future business remains strong and growing. 

Looking to full year 2024 guidance, Ameresco expects revenue in the range of $1.7-$1.8 billion, up 27% at the midpoint of the range. Gross margin is targeted in the range of 16%-16.5%, while adjusted EBITDA is targeted to grow 35% at the midpoint of the range, to $210-$230 million. Non-GAAP earnings per share is targeted in the range of $1.15-$1.35. We continue to like Ameresco’s backlog build, as we continue to monitor its debt position and adjusted operating cash flow trends closely. The firm remains an idea in the ESG Newsletter portfolio.


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