Ameresco stock falls 1.23 percent as cash flow draws scrutiny

Published on 10/05/2026 at 16:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ameresco stock was at USD 21.30 on October 5, while Q2 revenue rose 9 percent to USD 515.5 million. Operating cash flow and the USD 41.89 consensus target frame the debate.

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Ameresco stock (ISIN US02361E1082) was trading at USD 21.30 on the NYSE on October 5, 2026, down 1.23 percent from the prior close. The market is weighing the companys expanding energy infrastructure backlog against weak quarterly cash conversion.

Revenue growth meets cash pressure

Ameresco reported Q2 2026 revenue of USD 515.5 million, up 9 percent from USD 472.3 million in Q2 2025, according to Ameresco in its release dated August 3, 2026. Adjusted EBITDA increased 12 percent to USD 62.8 million, while GAAP EPS was USD 0.18 and non-GAAP EPS was USD 0.20.

The operating picture is more uneven below the income statement. Q2 operating cash flow was negative USD 107.2 million, and the company said project execution, billing and collection timing affected cash conversion, according to Ameresco.

Backlog reaches USD 6.73 billion

Ameresco entered the second half with total project backlog of USD 6.73 billion at June 30, 2026, an increase of 32 percent year over year. New project awards reached USD 1.835 billion in the quarter, including USD 1.2 billion tied to data center power infrastructure.

The company also reported awarded project backlog of USD 4.424 billion, up 65 percent year over year, and five data center projects in the awarded pipeline. The figures offer growth visibility, but awarded projects still depend on contracting, permitting, financing and execution milestones.

Analysts see a wider valuation gap

MarketBeat reported on September 26, 2026, that 14 firms carried a Moderate Buy consensus, with an average price target of USD 41.89. The high target was USD 62.00 and the low target was USD 32.00.

At USD 21.30, the average target lies 96.7 percent above the stock price. MarketBeat also reported on September 27, 2026, that Wall Street Zen upgraded Ameresco from Sell to Hold. The contrast between that valuation gap and negative operating cash flow is the central investor question.

Ameresco stock trades below yearly high

Ameresco stock was trading at USD 21.30 on October 5, 2026, with a 52-week range of USD 18.38 to USD 44.93 and volume of 127,173 shares. Market capitalization stood at USD 1.1 billion on the same date.