Home Energy services Ameresco: Overview of Second Quarter Results

Ameresco: Overview of Second Quarter Results

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FRAMINGHAM, Mass. (AP) _ Ameresco (AMRC) reported second-quarter profit of $32.2 million on Monday.

The Framingham, Mass.-based company said it had net earnings of 61 cents per share. Earnings, adjusted for one-time costs, were 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts polled by Zacks Investment Research was for earnings of 45 cents per share.

The energy services company posted revenue of $577.4 million during the period, also beating Street’s forecast. Seven analysts polled by Zacks expected $533.4 million.

Ameresco expects annual earnings of between $1.85 and $1.95 per share, with revenue of between $1.83 billion and $1.87 billion.

Shares of Ameresco are down 29% year-to-date. In the final minutes of trading on Monday, shares hit $57.81, a 16% drop in the past 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMRC at https://www.zacks.com/ap/AMRC