Ameresco reports stellar growth, creates more green jobs

US renewable energy and energy efficiency company Ameresco’s third quarter earnings per diluted share rose to $0.53 for the recent quarter, compares to $0.30 in last year’s third quarter. The company’s income rose 47 per cent to $12m in the recent quarter from $8.2m the year before.

‘Ameresco produced strong third quarter financial performance by effectively executing on our existing projects and continuing to successfully implement our 2010 business plan,’ said George Sakellaris, president and CEO of Ameresco.

‘We made significant progress on many of our marquee projects. We continue to win business across North America, and this quarter won a bid with the US Navy to improve energy efficiency for two of their facilities in Italy.’

Ameresco’s total order backlog including contracted and awarded projects stood at $1.12bn at the end of the quarter.

It expects to generate between $585m and $595m in revenue for the full year 2010, also predicting EBITDA to be in the range $55m to $57m and net income in the range $27m to $28m. Its earnings forecast per diluted share is $0.68.

On the green jobs front, Ameresco posted a total of 117 jobs in the period 8/1/2010 to 10/31/2010, an increase of 90% compared to 63 green jobs in the previous period 5/1/2010 to 6/30/2010. The company today had 28 open positions.