March 2, 2017

Framingham's Ameresco sees profits soar to $12M last year

Grant Welker
Grant Welker
Ameresco's Framingham headquarters. The company's net income rose to $12 million last year.

Framingham renewable energy and energy efficiency company Ameresco had its net income rise to $12 million last year, from $844,000 the prior year.

Revenue for the year hit $651 million, the company announced Thursday, a 3-percent increase over the prior year. EBITDA, or earnings before interest, tax, depreciation and amortization, was $56 million, compared to $46 million in 2015.

The $12 million in profit worked out to 26 cents per share, vs. 2 cents per share for 2015.

The company, which works on many local municipal projects, has also won several major contracts recently. In January, it signed a $91-million contract for an electric grid installment for the U.S. Marine Corps in South Carolina, and last December signed an $11-million deal for a power plant at the Philadelphia Navy Yard.

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