Ameresco Posts 14% Revenue Growth in Q1 2026 Amid Biofuels JV Deal

Event summary

  • Ameresco reported Q1 2026 revenue of $401.5M, up 14% YoY, despite adverse weather conditions.
  • Secured $522M in new project awards, driving 20% growth in Awarded Backlog to $2.8B.
  • Signed $400M strategic investment deal with HASI for biofuels joint venture Neogenyx Fuels.
  • Net loss of $18.3M, with Adjusted EBITDA of $40.5M in line with expectations.
  • Reaffirmed 2026 revenue guidance of $2.0B–$2.2B, with adjusted EBITDA guidance of $250M–$270M.

The big picture

Ameresco's Q1 2026 results reflect strong demand for energy infrastructure solutions, particularly from federal government customers. The $400M HASI investment in Neogenyx Fuels underscores the strategic value of Ameresco's biofuels platform, positioning the company to accelerate growth in the low-carbon fuel sector. The company's ability to navigate weather-related disruptions and maintain project execution will be critical to its full-year performance.

What we're watching

Execution Risk
Whether Ameresco can sustain its project pipeline growth amid weather-related challenges and project mix impacts.
Strategic Integration
How the Neogenyx Fuels joint venture will impact Ameresco's biofuels business growth and monetization strategy.
Market Dynamics
The pace at which Ameresco can capitalize on rising energy costs and demand for resilient energy systems.