Filing Flows › Ameresco (AMRC) › Q3 2026 › vs Q3 2025
Ameresco (AMRC) Q3 2026 vs Q3 2025 (year over year)
Ameresco's revenue rose $54.3M (+10%) from $526M in Q3 2025 to $580M in Q3 2026. The biggest changes: U.S. Federal +$63.8M (+71%); North America Regions −$12.3M (-5%); Renewable Fuels +$8.0M (+21%). Gross margin 18.7% against 15.6% (+3.1 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 18.7% | 15.6% | +3.1 pts |
| Operating margin | 10.6% | 7.7% | +2.9 pts |
| Net margin | 5.5% | 14.1% | -8.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| North America Regions | $225M | $238M | −$12.3M | -5% |
| U.S. Federal | $153M | $89.5M | $63.8M | +71% |
| Europe | $140M | $144M | −$4.4M | -3% |
| Renewable Fuels | $45.7M | $37.7M | $8.0M | +21% |
| All Other | $16.2M | $17.0M | −$736K | -4% |
| Revenue | $580M | $526M | $54.3M | +10% |
| Gross profit | $109M | $82.3M | $26.3M | +32% |
| Cost of revenue | $472M | $444M | $28.0M | +6% |
| Operating profit | $61.3M | $40.3M | $20.9M | +52% |
| Operating expenses | $47.3M | $42.0M | $5.4M | +13% |
| Pre-tax earnings | $34.5M | $16.1M | $18.4M | +114% |
| Other expense, net | $26.7M | $24.2M | $2.5M | +10% |
| Income tax benefit | $12.3M | $61.1M | −$48.9M | -80% |
| Net earnings | $31.9M | $74.0M | −$42.2M | -57% |
| Minority interests | $14.9M | $3.2M | $11.7M | +360% |
| Operating cash sources | $70.8M | $89.3M | −$18.5M | -21% |
| Depreciation & amortization | $26.0M | $29.3M | −$3.3M | -11% |
| Share-based compensation | $4.1M | $3.7M | $346K | +9% |
| Cash used in operations | $8.8M | −$17.7M | $26.6M | — |
| Working capital & other | $70.8M | $89.3M | −$18.5M | -21% |
Questions
How much did Ameresco's revenue grow year over year in Q3 2026?
Ameresco's revenue rose $54.3M (+10%) from $526M in Q3 2025 to $580M in Q3 2026.
What drove Ameresco's revenue change in Q3 2026?
U.S.