Filing Flows › Ameresco (AMRC) › Q2 2026 › vs Q2 2025
Ameresco (AMRC) Q2 2026 vs Q2 2025 (year over year)
Ameresco's revenue rose $43.2M (+9%) from $472M in Q2 2025 to $515M in Q2 2026. The biggest changes: U.S. Federal +$33.0M (+55%); North America Regions −$14.1M (-7%); Europe +$13.8M (+10%). Gross margin 17.7% against 15.5% (+2.2 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 17.7% | 15.5% | +2.2 pts |
| Operating margin | 8.6% | 5.9% | +2.7 pts |
| Net margin | 1.9% | 2.7% | -0.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| North America Regions | $197M | $211M | −$14.1M | -7% |
| Europe | $156M | $142M | $13.8M | +10% |
| U.S. Federal | $92.6M | $59.6M | $33.0M | +55% |
| Renewable Fuels | $54.2M | $42.8M | $11.4M | +27% |
| All Other | $15.8M | $16.8M | −$932K | -6% |
| Revenue | $515M | $472M | $43.2M | +9% |
| Gross profit | $91.3M | $73.4M | $17.9M | +24% |
| Cost of revenue | $424M | $399M | $25.2M | +6% |
| Operating profit | $44.1M | $27.8M | $16.4M | +59% |
| Operating expenses | $47.2M | $45.6M | $1.6M | +3% |
| Pre-tax earnings | $20.0M | $12.6M | $7.4M | +59% |
| Other expense, net | $24.1M | $15.2M | $8.9M | +59% |
| Net earnings | $9.7M | $12.9M | −$3.1M | -24% |
| Minority interests | $10.2M | $2.7M | $7.5M | +284% |
| Income tax | $137K | −$2.9M | $3.0M | — |
| Operating cash sources | $150M | $68.7M | $81.8M | +119% |
| Depreciation & amortization | $30.1M | $25.2M | $4.9M | +20% |
| Share-based compensation | $3.4M | $3.8M | −$372K | -10% |
| Cash used in operations | $107M | $26.9M | $80.3M | +299% |
| Working capital & other | $150M | $68.7M | $81.8M | +119% |
Questions
How much did Ameresco's revenue grow year over year in Q2 2026?
Ameresco's revenue rose $43.2M (+9%) from $472M in Q2 2025 to $515M in Q2 2026.
What drove Ameresco's revenue change in Q2 2026?
U.S.