Ameresco Reports Backlog Growth, but Canadian Unit Weighs on Profits

Ameresco is helping Arizona State University reduce its environmental impact and lower costs. Image source: Ameresco.

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Ameresco(NYSE: AMRC) reported its second-quarter financial results on Aug. 9, delivering 7% revenue growth, 43% growth in new project awards, and reported a $1.6 billion backlog, 16% bigger than one year ago. But the company continues to work through efforts to get its Canadian business back on track, with $2 million in restructuring charges keeping profits flat from last year.

Yet even with those costs -- and potentially $3 million more in losses the company may have to take related toSunEdison's ongoing bankruptcy before year-end -- management is sticking to its guns on expectations for the full year. Here's a closer look at Ameresco's second-quarter earnings report.

Ameresco results: The raw numbers

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