The stock climbed to $28.28 in recent trading, signaling a recovery for a company that had seen its valuation slide 3.5% since the start of the year. This growth was fueled by broad expansion across core business segments and the effective conversion of its existing project backlog. While net income for the quarter dipped to $9.72 million—or 18 cents a share—from the $12.9 million reported in the same period last year, the company’s adjusted earnings of 20 cents per share landed exactly in line with market forecasts.

Chief Executive George Sakellaris pointed to specific momentum within the power infrastructure division, noting the advancement of three new behind-the-meter data projects. Looking ahead, Ameresco leadership anticipates that activity for the second half of the year will lean toward the fourth quarter. The company has adjusted its fiscal guidance range for adjusted earnings per share to between $1.15 and $1.35, exceeding the $1.21 consensus among analysts.