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home / articles / AMRC - Why Renewable Energy Company Ameresco's Shares Are Diving Today | Benzinga

AMRC - Why Renewable Energy Company Ameresco's Shares Are Diving Today | Benzinga

Ameresco Inc. Class A

Ameresco Inc (NYSE: AMRC) shares are trading lower by around 19% after the company reported worse-than-expected Q3 FY23 results.

The company reported revenue of $335.1 million, missing the consensus of $385.2 million. Revenue came below the company's guidance as Projects business faced supply chain headwinds and delays in contract conversions.

Energy Asset revenue rose 6.2% Y/Y, aided by continued growth in operating assets and stronger RIN prices. O&M revenue grew 4.2% Y/Y on consistent growth in long-term contracts. 

Adjusted EBITDA stood at $43.3 million vs. $57.9 million a year ago. 

Adjusted EPS of $0.40, Full story available on Benzinga.com
Stock Information
Company Name: Ameresco Inc. Class A
Stock Symbol: AMRC
Market: NYSE
Website: ameresco.com
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