Filing Flows › Ameresco (AMRC) › Q2 2026 › vs Q1 2026
Ameresco (AMRC) Q2 2026 vs Q1 2026 (quarter over quarter)
Ameresco's revenue rose $114M (+28%) from $401M in Q1 2026 to $515M in Q2 2026. The biggest changes: U.S. Federal +$37.4M (+68%); North America Regions +$31.1M (+19%); Europe +$28.4M (+22%). Gross margin 17.7% against 14.1% (+3.6 pts).
Ameresco, Q2 2026: revenue $515M (+9% year over year), operating margin 8.6%, net earnings $9.7M, operating cash flow −$107M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 17.7% | 14.1% | +3.6 pts |
| Operating margin | 8.6% | 2.6% | +6.0 pts |
| Net margin | 1.9% | -4.6% | +6.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| North America Regions | $197M | $166M | $31.1M | +19% |
| Europe | $156M | $127M | $28.4M | +22% |
| U.S. Federal | $92.6M | $55.3M | $37.4M | +68% |
| Renewable Fuels | $54.2M | $39.3M | $14.9M | +38% |
| All Other | $15.8M | $13.6M | $2.2M | +16% |
| Revenue | $515M | $401M | $114M | +28% |
| Gross profit | $91.3M | $56.5M | $34.8M | +62% |
| Cost of revenue | $424M | $345M | $79.2M | +23% |
| Operating profit | $44.1M | $10.2M | $33.9M | +331% |
| Operating expenses | $47.2M | $46.2M | $940K | +2% |
| Pre-tax earnings | $20.0M | −$17.6M | $37.6M | — |
| Other expense, net | $24.1M | $27.8M | −$3.7M | -13% |
| Net earnings | $9.7M | −$18.3M | $28.0M | — |
| Minority interests | $10.2M | $3.9M | $6.3M | +161% |
| Income tax | $137K | −$3.2M | $3.3M | — |
| Operating cash sources | $150M | −$20.2M | $171M | — |
| Depreciation & amortization | $30.1M | $29.3M | $868K | +3% |
| Share-based compensation | $3.4M | $4.2M | −$797K | -19% |
| Cash used in operations | $107M | −$35.4M | $143M | — |
| Working capital & other | $150M | −$20.2M | $171M | — |
Questions
How much did Ameresco's revenue grow quarter over quarter in Q2 2026?
Ameresco's revenue rose $114M (+28%) from $401M in Q1 2026 to $515M in Q2 2026.
What drove Ameresco's revenue change in Q2 2026?
U.S.