Ameresco Lowers 2012 Outlook
Energy services provider Ameresco Inc. of Framingham lowered its revenue and profit expectations for 2012 today, citing storm-related weather delays in the fourth quarter of last year and challenges in the solar market.
The company said it expects revenue to fall in the range of $630 million, down from its original expectations of $640 million to $660 million. Meanwhile, it expects profits in the range of $17 million to $19 million, down from $22 million to $25 million.
Nonetheless, company President and CEO George Sakellaris said Ameresco is confident about "the long-term fundamentals of our business as well as the demand for energy efficiency." He said the company is sitting on a roughly $1.5-billion backlog of awarded and fully-contracted projects.
Ameresco is expected to release its full-year and fourth-quarter results on March 1.
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