Strong Financial Performance
Ameresco reported a second-quarter revenue growth of 8% and an adjusted EBITDA increase of 24%, illustrating robust financial performance. Earnings per share also saw significant growth, driven by strong backlog conversion and contributions from Europe.
Record Project Backlog
The total project backlog increased by 16% to a record $5.1 billion, with the contracted project backlog rising 46% to $2.4 billion, reflecting strong demand and execution capabilities.
European Expansion Success
Revenue from European operations grew significantly, contributing to Ameresco's revenue diversification strategy. Europe now accounts for approximately 20% of the total project backlog.
Growth in Energy Assets
Energy asset revenue grew 18% with the base of operating assets reaching almost 750 megawatts, supported by investments in innovative financing solutions.
Federal Market Opportunities
Improved business environment with the federal government and new opportunities in leveraging secure federal land for energy projects were highlighted, including potential impacts from regulatory changes.