AMRC - Why Ameresco Stock Topped the Market on Thursday
2024-02-29 18:25:54 ET
Cleantech energy integration specialist Ameresco (NYSE: AMRC) provided its investors with a pleasant jolt of energy after market close on Wednesday. It published a set of quarterly figures in which the headline numbers beat analyst estimates for both revenue and profitability. The market rewarded the company with a nearly 3% bump in its share price Thursday, a figure that was higher than the S&P 500 index's 0.5% rise.
Not only did Ameresco's fourth-quarter results exceed prognosticator expectations, they also indicated robust growth for the company.
Revenue totaled just over $441 million, well higher than the almost $332 million Ameresco earned in the same quarter of 2022. More impressively, non-GAAP (adjusted) net income nearly doubled, reaching $36.8 million ($0.69 per share) from the year-ago profit of $18.9 million.
For further details see:
Why Ameresco Stock Topped the Market on Thursday