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Ameresco secures $21M LED streetlight upgrade in Henderson

Published 20/05/2024, 11:50 pm
AMRC
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HENDERSON, Nev. - Ameresco, Inc. (NYSE:AMRC), a cleantech integrator known for its energy efficiency and renewable energy solutions, announced a partnership with the City of Henderson to overhaul its streetlight system. The $21 million design-build project aims to replace over 30,000 streetlights with LED technology, emphasizing safety, energy savings, and improved community services.

The initiative demonstrates Henderson's commitment to sustainable urban development. By adopting LED lighting, the city expects to see not only brighter streets but also reduced energy consumption. Lance Olson, Henderson's Director of Public Works, highlighted the project's focus on public safety and service reliability, citing the potential for improved outage monitoring and response times.

Ameresco's approach integrates smart technology to ensure consistent lighting levels across the city, which is anticipated to enhance the safety of pedestrians, cyclists, and motorists.

Lou Maltezos, Executive Vice President at Ameresco, expressed pride in the company's ongoing relationship with Henderson and its role in the city's progress toward sustainable development.

Ameresco's track record includes projects with various government entities, utilities, and commercial customers, aiming to help them reduce costs and achieve net-zero carbon emissions.

This collaboration with Ameresco is in line with Henderson's reputation as a city focused on quality of life, safety, and sustainability. The city, Nevada's second-largest, has been recognized for its livability, safety, and community-oriented amenities.

The announcement is based on a press release statement.

InvestingPro Insights

Ameresco, Inc. (NYSE:AMRC) is making waves with its latest sustainable urban development project in Henderson, Nevada. As investors consider the implications of this partnership for the company's financial health and stock performance, it's crucial to examine Ameresco's current market standing through real-time data provided by InvestingPro.

With a market capitalization of $1.43 billion, Ameresco is of a size that can still offer growth potential. The company's P/E ratio, as of the last twelve months ending in Q1 2024, stands at 23.03, indicating investor expectations of future earnings growth. This is further supported by a Price/Book ratio of 1.58, which suggests that the company's assets are valued reasonably in relation to its stock price.

Revenue figures from the same period show a mixed picture. While there was a notable quarterly revenue growth of 10.1%, the overall revenue growth experienced a decline of 13.54%. These figures point to the dynamic and somewhat volatile nature of Ameresco's financial performance, which is also reflected in the company's stock price movements. Over the last month, the stock has seen a significant return of 45.48%, yet on a year-to-date basis, there has been a decline of 13.64%.

InvestingPro Tips for Ameresco underline some challenges and opportunities for the company. The significant debt burden and a high EBITDA valuation multiple could be areas of concern for investors. However, analysts predict profitability this year, which may be a positive sign for the company's future performance. Additionally, Ameresco's strong return over the last three months and the lack of dividend payouts suggest that the company is focusing on reinvesting earnings into growth opportunities.

For those interested in a deeper dive into Ameresco's financial health and stock analysis, there are 12 additional InvestingPro Tips available at https://www.investing.com/pro/AMRC. These tips could provide valuable insights for making informed investment decisions. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable financial metrics and expert analysis.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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