Ameresco reports Q1 EPS (11c), consensus (25c)

Reports Q1 revenue $352.8M, consensus $306.55M. The company said, “The first quarter represented an excellent start to the year with both our Projects and Energy Asset businesses delivering strong double-digit growth. We also increased future revenue visibility through robust contract conversion and asset deployments. During the quarter, we added over $367 million to awarded backlog while converting $334 million of awards into contracts. At quarter end our contracted backlog stood at $2.6 billion, almost 80% ahead of the previous year, driving our total project backlog to $4.9 billion up 22% compared to last year. Revenue visibility across our businesses now stands at almost $10 billion, adding to our long-term resilience.”