Dafinchi AI

AMRC

Energy & Utilities

Adjusted cash flows from operations were approximately $50 million, including $71 million from sale of investment tax credits.
Ameresco reported second quarter 2025 revenue growth of 8% and adjusted EBITDA growth of 24%, with strong earnings per share growth.
Debt-to-EBITDA leverage ratio was 3.4, below the covenant level of 3.5, with $82 million cash and $294 million total corporate debt.
Energy asset revenue grew 18%, driven by growth in operating assets now totaling nearly 750 megawatts.
Gross margin for the quarter was 15.5%, showing solid improvement sequentially and year-over-year.
Net income attributable to common shareholders was $12.9 million or $0.24 per share, with non-GAAP EPS of $0.27 after adjustments.
Non-cash mark-to-market gains of $4.3 million and $3 million in foreign exchange translation gains positively impacted earnings.
Total project backlog increased 16% to a record $5.1 billion, with contracted backlog up 46% to $2.4 billion.

Energy & Utilities

Adjusted earnings for the quarter were $4.1 million, an increase of over $8 million compared to last year.
Corporate costs were slightly lower due to higher returns on nonqualified benefit plans, partially offset by higher interest expense.
Gas Marketing segment earnings increased by over $4 million, benefiting from strong positioning during the quarter.
Midstream segment earnings grew strongly due to additional capacity and asset optimization at Spire Storage, despite higher operating costs.
O&M expenses increased slightly but remain well-managed with a year-to-date run rate less than 1% higher than prior year.
Spire reported adjusted earnings of $0.01 per share in Q3 FY 2025, compared to a loss of $0.14 per share a year ago, reflecting growth across all business segments.
The Gas Utility segment had an adjusted loss of $10 million, $1 million better than prior year, driven by higher ISRS revenues and partially offset by lower usage net of weather mitigation.

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