Ameresco reports 112% increase in 3Q profits
Photo | Grant Welker
Ameresco headquarters in Framingham
Energy efficiency company Ameresco, headquartered in Framingham, reported a 112% increase in profits in the company’s third quarter, according to an earnings report released Monday.
The company boasted $17.7 million in net income during the quarter, compared to $8.3 million during the same quarter last year, according to the report.
Revenue was also up, with the company reporting $282.5 million compared to $212 million during third quarter of 2019.
Ameresco president and CEO George Sakellaris said in a statement the figures represented a quarter of great revenue and profit performance.
“We grew our backlog due to our independent approach to integrating advanced technologies, including efficiency and renewable solutions,” Sakellaris said. “We have also used this growth, together with spending discipline, to gain significant operating leverage.”
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