Ameresco (AMRC +9.1%) reported Q2 revenues of $198.2M (+0.6% Y/Y), with modest growth over all platforms.
Q2 Gross margin improved slightly by 5 bps to 21.8%; and operating margin declined by 51 bps to 6.6%.
Q2 Adj. EBITDA was $23.61M (+10.2% Y/Y); and margin expanded by 104 bps to 11.9%.
Cash flows used in operating activities YTD was $109.25M, compared to $57.14M a year ago.
Total project backlog was $2B, as of June 30, 2019, with $789M representing signed customer contracts for installation or construction of projects; and $1.2B representing projects in development.
FY19 Guidance, reaffirmed: Revenue $845M to $885M; EPS $0.77 to $0.85 and Adj. EBITDA $95M to $103M.
Previously: Ameresco EPS beats by $0.03, beats on revenue (Aug. 8)
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