Ameresco’s second quarter was marked by significant operational achievements, which the market responded to with a substantial increase in the company's share price. Management credited the quarter’s momentum to a surge in new project awards, particularly $1.2 billion in data center contracts and another $600 million across other markets. CEO George Sakellaris highlighted the strategic value of these data center wins, noting that Ameresco’s ability to deliver integrated energy infrastructure solutions was pivotal. The company also closed a major joint venture with HASI, further strengthening its capital resources and expanding its reach into European compliance markets.
Is now the time to buy AMRC? Find out in our full research report (it’s free for active Edge members).
Ameresco (AMRC) Q2 CY2026 Highlights:
- Revenue: $515.5 million vs analyst estimates of $460.5 million (9.1% year-on-year growth, 11.9% beat)
- Adjusted EPS: $0.20 vs analyst estimates of $0.20 (in line)
- Adjusted EBITDA: $62.81 million vs analyst estimates of $60.84 million (12.2% margin, 3.2% beat)
- The company reconfirmed its revenue guidance for the full year of $2.1 billion at the midpoint
- Management raised its full-year Adjusted EPS guidance to $1.25 at the midpoint, a 6.8% increase
- EBITDA guidance for the full year is $260 million at the midpoint, below analyst estimates of $265.9 million
- Operating Margin: 8.6%, up from 5.9% in the same quarter last year
- Market Capitalization: $1.36 billion
While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Ameresco’s Q2 Earnings Call
-
George Gianarikas (Canaccord Genuity) asked about risk-sharing and financial exposure for data center projects in case of delivery delays. Co-President Nicole Bulgarino responded that Ameresco remains highly diligent about contractual commitments to minimize potential risks.
-
Stephen Gengaro (Stifel) pressed for details on how quickly new awards would convert to revenue. CEO George Sakellaris explained that awarded projects typically take 6 to 24 months to become contracted, with implementation spanning one to three years depending on project complexity.
-
Eric Stine (Craig-Hallum) inquired about the size and stage of the pipeline beyond the $1.2 billion in new awards. Sakellaris and Bulgarino confirmed a robust pipeline, noting that additional projects are under consideration and could increase the total award value.
-
Joseph Osha (Guggenheim Partners) questioned whether data center projects will be treated as asset sales or recognized as engineering, procurement, and construction (EPC) revenue. Chief Investment Officer Joshua Baribeau clarified these will be recognized as traditional EPC revenue.
-
Swetha Rakhecha (Cantor Fitzgerald) sought clarification on customer types and risk management for data center projects, including concerns about zoning and local opposition. Bulgarino emphasized Ameresco’s approach of partnering with experienced local stakeholders and prioritizing federal government sites to reduce community risk.
Catalysts in Upcoming Quarters
In the coming quarters, our analyst team will be watching (1) the pace at which awarded data center projects move into contracted backlog, (2) execution on major infrastructure projects that could expand recurring revenue, and (3) progress in leveraging new capital partnerships like Neogenyx for future project financing. Additionally, successful navigation of regulatory and supply chain challenges will be key markers of execution.
Ameresco currently trades at $26.53, up from $22.73 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it’s free).
Our Favorite Stocks Right Now
ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time.
Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE.
Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.
