Filing Flows › Ameresco (AMRC) › Q3 2026 › vs Q2 2026
Ameresco (AMRC) Q3 2026 vs Q2 2026 (quarter over quarter)
Ameresco's revenue rose $64.9M (+13%) from $515M in Q2 2026 to $580M in Q3 2026. The biggest changes: U.S. Federal +$60.7M (+65%); North America Regions +$28.2M (+14%); Europe −$15.9M (-10%). Gross margin 18.7% against 17.7% (+1.0 pts).
Ameresco, Q3 2026: revenue $580M (+10% year over year), operating margin 10.6%, net earnings $31.9M, operating cash flow −$8.8M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 18.7% | 17.7% | +1.0 pts |
| Operating margin | 10.6% | 8.6% | +2.0 pts |
| Net margin | 5.5% | 1.4% | +4.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| North America Regions | $225M | $197M | $28.2M | +14% |
| U.S. Federal | $153M | $92.6M | $60.7M | +65% |
| Europe | $140M | $156M | −$15.9M | -10% |
| Renewable Fuels | $45.7M | $54.2M | −$8.5M | -16% |
| All Other | $16.2M | $15.8M | $415K | +3% |
| Revenue | $580M | $515M | $64.9M | +13% |
| Gross profit | $109M | $91.3M | $17.3M | +19% |
| Cost of revenue | $472M | $424M | $47.6M | +11% |
| Operating profit | $61.3M | $44.1M | $17.1M | +39% |
| Operating expenses | $47.3M | $47.2M | $189K | +0.4% |
| Pre-tax earnings | $34.5M | $17.2M | $17.3M | +101% |
| Other expense, net | $26.7M | $26.9M | −$221K | -0.8% |
| Income tax benefit | $12.3M | $206K | $12.0M | 59× |
| Net earnings | $31.9M | $7.3M | $24.6M | +337% |
| Minority interests | $14.9M | $10.1M | $4.8M | +47% |
| Operating cash sources | $70.8M | $128M | −$56.8M | -45% |
| Depreciation & amortization | $26.0M | $30.1M | −$4.2M | -14% |
| Share-based compensation | $4.1M | $3.4M | $713K | +21% |
| Cash used in operations | $8.8M | $86.8M | −$77.9M | -90% |
| Working capital & other | $70.8M | $128M | −$56.8M | -45% |
Questions
How much did Ameresco's revenue grow quarter over quarter in Q3 2026?
Ameresco's revenue rose $64.9M (+13%) from $515M in Q2 2026 to $580M in Q3 2026.
What drove Ameresco's revenue change in Q3 2026?
U.S.