Ameresco Inc

Ameresco reported second-quarter 2026 revenue of $515.5 million, a 9% increase, and announced a record $1.8 billion in new awards, including $1.2 billion for on-site power solutions for data center operators and hyperscalers. The company's total project backlog rose 32% year over year to $6.7 billion, while awarded project backlog surged 65% to $4.4 billion. Net income attributable to common shareholders was $9.7 million, or $0.18 per diluted share, with non-GAAP EPS of $0.20 and adjusted EBITDA of $62.8 million, up 12%. Ameresco reaffirmed its full-year 2026 revenue guidance of $2 billion to $2.2 billion and raised its non-GAAP EPS guidance to a range of $1.15 to $1.35, citing an expected tax benefit from a planned accounting policy change for transferable tax credits. The company also highlighted the energization of a 560-megawatt solar project in Greece and the successful commissioning of the 250-megawatt Napanee Battery Energy Storage System in Canada.

U.S. stock index futures rose on Tuesday as semiconductor shares found support from another round of upbeat AI-related earnings. ON Semiconductor rose more than 7% after reporting second-quarter adjusted earnings of $0.74 per share on revenue of $1.60 billion, both ahead of Wall Street forecasts, reinforcing expectations that artificial intelligence infrastructure spending remains resilient. Ameresco surged 29.9% after beating second-quarter revenue expectations and raising its full-year earnings outlook, while Snap jumped nearly 9% following a broad earnings beat. Powell Industries tumbled 14.0% after missing Wall Street expectations on both earnings and revenue for a second consecutive quarter, despite record new orders and a sharply expanded backlog.

Ameresco shares jumped 26.7% in post-market trading Monday after the company reported second-quarter revenue of $515 million, a 9% year-over-year increase that easily exceeded expectations, while adjusted earnings were in line with estimates. The company said its total project backlog rose 32% from a year earlier to a record $6.73 billion, driven by strong demand for energy efficiency and renewable energy programs. Ameresco added $1.8 billion of new awards to its backlog in the quarter, more than triple the year-earlier figure, with roughly $1.2 billion tied to data center projects and the remaining $600 million from other business lines including industrial and commercial customers, CEO George Sakellaris told Reuters. The company reaffirmed its fiscal 2026 revenue guidance of $2 billion to $2.2 billion and raised its full-year adjusted earnings outlook to $1.15 to $1.35 per share, above the analyst consensus of $1.05.

Ameresco announced two Advanced Metering Infrastructure contracts with Baytown and Shenandoah, Texas, representing more than $5 million in combined investment. The projects will modernize water metering infrastructure with near real-time usage data, hourly consumption visibility, faster leak detection, and integration with each city's utility billing platform. While not a direct data-center cooling contract, the work is relevant to AI infrastructure because water efficiency is becoming a practical constraint for large, heat-intensive facilities. Ameresco already serves data centers through energy infrastructure and efficiency work, and its water-management capabilities add another layer to that positioning.

Ameresco shares rose 2.9% to $27.35 after the broader US renewable energy sector rallied on news of potential import restrictions on foreign-made power inverters. The rally was triggered by a report that the government is preparing rules that could ban certain foreign power inverters on national security grounds, which would likely benefit domestic companies. Solar companies like Enphase Energy and SolarEdge Technologies also experienced significant gains. Ameresco's stock is down 10.8% year-to-date and trades 36.7% below its 52-week high of $43.23 from October 2025.