Ameresco Q4 Sales Rise 9.1% to $581M, EPS Beats by 9.2%
Ameresco delivered Q4 CY2025 revenue of $581 million, up 9.1% year-on-year and surpassing analyst estimates of $553.4 million by 5%, while adjusted EPS of $0.39 beat consensus by 9.2%. Free cash flow swung to $161.2 million from negative $58.1 million year-on-year, and fiscal 2026 EPS guidance of $1.23 tops forecasts.
1. Q4 CY2025 Financial Results
Ameresco reported Q4 revenue of $581 million, up 9.1% year-on-year and 5% above forecasts. Adjusted EPS was $0.39, exceeding consensus by 9.2%, while adjusted EBITDA held at $70.01 million with a 12% margin.
2. Cash Flow and Operating Efficiency
Free cash flow turned positive at $161.2 million versus a loss of $58.1 million a year earlier, driven by improved working capital management. However, operating margin declined to 6.8% from 8.4% year-on-year, reflecting higher operating expenses.
3. Fiscal 2026 Guidance
Ameresco set fiscal 2026 adjusted EPS guidance at a $1.23 midpoint, 2.1% above analyst estimates, and raised EBITDA guidance to $282.5 million versus $279.8 million consensus, signaling management's confidence in continued growth.