Why Renewable Energy Company Ameresco's Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Renewable energy company Ameresco Inc's shares have dropped by 19% following worse-than-expected Q3 FY23 results. The company reported revenue of $335.1 million, missing the consensus of $385.2 million due to supply chain issues and contract conversion delays. Adjusted EBITDA was $43.3 million, down from $57.9 million a year ago. The company has lowered its FY23 outlook due to ongoing industry issues.
November 07, 2023 | 1:44 pm
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NEGATIVE IMPACT
Ameresco's shares have dropped following disappointing Q3 FY23 results and a lowered FY23 outlook. This is due to ongoing industry issues impacting the company's business.
Ameresco's shares have dropped due to worse-than-expected Q3 FY23 results and a lowered FY23 outlook. This is likely to negatively impact the company's stock price in the short term.
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