Ameresco (NYSE: AMRC) reported Q4 EPS of $0.23, $0.05 better than the analyst estimate of $0.18. Revenue for the quarter came in at $217.4 million versus the consensus estimate of $227.53 million.

• 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%

“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 line-of-sight to another $2 billion of recurring energy and O&M revenue. During the year, we expanded the diversity and geography of our project pipeline, and accelerated the buildout of our diversified energy asset portfolio with 178MWe now in development.”

Sakellaris continued, “Moving into 2019, we have never felt better about our outlook. We have a resilient business structure underpinned by stable and high margin recurring revenues. Our pipeline is strong, our growth opportunities are well-defined, our technical expertise is deep, and we have an outstanding team that can execute. We look forward to another successful year of growth.”

GUIDANCE:

Ameresco sees FY2019 EPS of $0.75-$0.85, versus the consensus of $0.81. Ameresco sees FY2019 revenue of $845-885 million, versus the consensus of $849.93 million.

For earnings history and earnings-related data on Ameresco (AMRC) click here.