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Ameresco, Inc. (AMRC) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Ameresco, Inc.

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CIK: 1488139 Ticker: AMRC




Exhibit 99.1
amtagrgba02a14.jpg
FOR IMMEDIATE RELEASE
Contact:
Media Relations
 
Leila Dillon, 508.661.2264, news@ameresco.com
 
Investor Relations
 
Mark Chiplock, 508.661.2255, ir@ameresco.com
 
 
 
Gary Dvorchak, CFA, The Blue Shirt Group, 323.240.5796,
 
 
 
ir@ameresco.com
Ameresco Reports Fourth Quarter and Full Year 2018 Financial Results

Fourth Quarter 2018 Financial Highlights:
•
Revenues of $217.4 million, compared to $211.1 million, up 3.0%
•
Net income attributable to common shareholders of $11.6 million, and $0.24 per diluted share. Excluding prior year one-time benefit from Tax Cuts and Jobs Act, net income attributable to common shareholders was up 18%, and per diluted share was up 14%
•
Adjusted EBITDA of $28.2 million, compared to $21.1 million, up 34%
•
Non-GAAP EPS of $0.23, compared to $0.18 that excludes prior year one-time benefit from Tax Cuts and Jobs Act, up 28%
•
Project backlog of nearly $2 billion, up 11%; Contracted backlog of $727 million, up 27%


Full Year 2018 Financial Highlights:
•
Revenues of $787.1 million, compared to $717.2 million, up 10%
•
Net income attributable to common shareholders of $38.0 million, and $0.81 per diluted share. Excluding prior year one-time benefit from Tax Cuts and Jobs Act, net income attributable to common shareholders was up 62%, and per diluted share was up 59%
•
Adjusted EBITDA of $91.0 million, compared to $63.3 million, up 44%
•
Non-GAAP EPS of $0.81, compared to $0.45 excluding prior year one-time benefit from Tax Cuts and Jobs Act, up 80%
•
Added 139MWe of assets in development, up 128% from prior year, and placed 39MWe of assets into operations

FRAMINGHAM, MA - March 6, 2019 - Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced financial results for the fiscal quarter and year ended December 31, 2018. The Company has also furnished supplemental information in conjunction with this press release in a Current Report on Form 8-K. The supplemental information includes non-GAAP financial metrics, and has been posted to the “Investor Relations” section of the Company’s website at www.ameresco.com.

“We concluded 2018 with outstanding quarterly results, enabling us to achieve impressive results for the year and meet our objective of growing profit faster than revenue,” said George P. Sakellaris, President and Chief Executive Officer of Ameresco. “We further confirmed the effectiveness of our business model, especially demonstrating the resiliency to absorb project variability.  Our visibility has never been better.  Project backlog is nearly $2 billion, and we have

The following information was filed by Ameresco, Inc. (AMRC) on Wednesday, March 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ameresco, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Redeemable Non-Controlling Interests And Stockholders' Equity
Consolidated Statements Of Changes In Redeemable Non-Controlling Interests And Stockholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Business Acquisitions And Related Transactions
Business Acquisitions And Related Transactions (Tables)
Business Acquisitions And Related Transactions - Additional Information (Details)
Business Acquisitions And Related Transactions - Purchase Price Allocation (Details)
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Additional Information (Details)
Business Segment Information - Revenue (Details)
Business Segment Information - Segment Information (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Operating Leases (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Details)
Derivative Instruments And Hedging Activities - Effects Of Derivative Instruments In Accumulated Other Comprehensive Income (Details)
Derivative Instruments And Hedging Activities - Effects On Statements Of Income And Consolidated Statements Of Comprehensive Income (Details)
Derivative Instruments And Hedging Activities - Fair Value Of Derivative Instruments On The Balance Sheet (Details)
Derivative Instruments And Hedging Activities - Summary Of Active Derivative Instruments (Details)
Description Of Business
Employee Benefits
Employee Benefits (Details)
Energy Assets
Energy Assets (Tables)
Energy Assets - Additional Information (Details)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Additional Information (Details)
Fair Value Measurement - Fair Value And Carrying Value Of Long-Term Debt (Details)
Fair Value Measurement - Fair Value Of Assets And Liabilities Measured On A Recurring Basis (Details)
Fair Value Measurement - Fair Value Of Contingent Liabilities (Details)
Geographic Information
Geographic Information (Details)
Geographic Information (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Amortization (Details)
Goodwill And Intangible Assets - Future Amortization (Details)
Goodwill And Intangible Assets - Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Deferred Income Tax Assets And Liabilities (Details)
Income Taxes - Domestic And Foreign Income Taxes (Details)
Income Taxes - Income Tax Provision (Details)
Income Taxes - Reconciliation Of Effective Tax Rates (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Investment Funds
Investment Funds (Details)
Investment Funds (Tables)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Construction And Term Loans (Details)
Long-Term Debt - Schedule Of Long-Term Debt (Details)
Long-Term Debt - Schedule Of Maturities (Details)
Long-Term Debt - Senior Secured Credit Facility - Revolver And Term Loan (Details)
Non-Controlling Interests And Equity
Non-Controlling Interests And Equity (Details)
Other Expenses, Net
Other Expenses, Net (Details)
Other Expenses, Net (Tables)
Other Expenses, Net - Deferred Financing Costs (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Quarterly Information (Unaudited)
Quarterly Information (Unaudited) (Details)
Quarterly Information (Unaudited) (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Additional Information (Details)
Revenue From Contracts With Customers - Contract Balances (Details)
Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)
Revenue From Contracts With Customers - Summary Of Impact Of Adoption (Details)
Stock Incentive Plan
Stock Incentive Plan (Tables)
Stock Incentive Plan - Additional Information (Details)
Stock Incentive Plan - Fair Value Assumptions (Details)
Stock Incentive Plan - Stock Options Activity (Details)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Accounts Receivable (Details)
Summary Of Significant Accounting Policies - Amounts Related To Sale Leaseback (Details)
Summary Of Significant Accounting Policies - Derivative Instruments (Details)
Summary Of Significant Accounting Policies - Earnings Per Share (Details)
Summary Of Significant Accounting Policies - Energy Assets (Details)
Summary Of Significant Accounting Policies - Fair Value Measurements (Details)
Summary Of Significant Accounting Policies - Goodwill And Intangible Assets (Details)
Summary Of Significant Accounting Policies - Principles Of Consolidation (Details)
Summary Of Significant Accounting Policies - Project Development Costs (Details)
Summary Of Significant Accounting Policies - Property And Equipment (Details)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies - Redeemable Non-Controlling Interest (Details)
Summary Of Significant Accounting Policies - Restricted Cash (Details)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Summary Of Significant Accounting Policies - Sales Leaseback (Details)
Summary Of Significant Accounting Policies - Share Repurchase Program (Details)
Summary Of Significant Accounting Policies - Stock-Based Compensation Expense (Details)
Summary Of Significant Accounting Policies - Use Of Estimates (Details)
Ticker: AMRC
CIK: 1488139
Form Type: 10-K Annual Report
Accession Number: 0001488139-19-000022
Submitted to the SEC: Fri Mar 08 2019 5:19:14 PM EST
Accepted by the SEC: Fri Mar 08 2019
Period: Monday, December 31, 2018
Industry: Construction Special Trade Contractors

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