Ameresco Shares Drop 15% Following Worse Than Expected Q4 Results

Ameresco (NYSE:AMRC) shares plunged more than 15% on Tuesday (partly recovered today) following the company’s reported Q4 results, with EPS of $0.34 missing the Street estimate of $0.38. Revenue was $331.7 million, worse than the Street estimate of $367.2 million.

However, fiscal 2023 EBITDA guidance ($210-$220 million), though back-weighted, was in line with the Street estimates and reflects a line of sight to key projects' mid-year completion.

Revenues and EPS are expected to be $1.45–1.55 billion and $1.80–1.90, compared to the Street estimate of $1.564 billion and $1.84, respectively.