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Ameresco: 3Q Earnings Snapshot

·1 min read

FRAMINGHAM, Mass. (AP) _ Ameresco (AMRC) on Monday reported third-quarter net income of $20 million.

On a per-share basis, the Framingham, Massachusetts-based company said it had net income of 41 cents. Earnings, adjusted for one-time gains and costs, were 38 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The energy services company posted revenue of $282.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $244.9 million.

Ameresco expects full-year earnings in the range of 94 cents to $1 per share, with revenue in the range of $960 million to $1 billion.

Ameresco shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $38.63, more than doubling in the last 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