Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENT INFORMATION

v3.24.3
BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
Our reportable segments for the three and nine months ended September 30, 2024 were North America Regions, U.S. Federal, Europe, Alternative Fuels and All Other. On January 1, 2024, we changed the structure of our internal organization, and our U.S. Regions and Canada are now included in North America Regions. Additionally, our Asset Sustainability Group was formerly included in Canada, but is now included in “All Other”. As a result, previously reported amounts have been reclassified for comparative purposes.
Our North America Regions, U.S. Federal and Europe segments offer energy efficiency products and services which include the design, engineering and installation of equipment and other measures to improve the efficiency and control the operation of a facility’s energy infrastructure, renewable energy solutions and services and the development and construction of small-scale plants that Ameresco owns or develops for customers that produce electricity, gas, heat or cooling from renewable sources of energy and O&M services.
Our Alternative Fuels segment sells electricity, thermal, renewable fuel, or biomethane using biogas as a feedstock from small-scale plants that we own and operate and provides O&M services for customer-owned small-scale plants.
The “All Other” category includes consulting services and the sale of solar PV energy products and systems which we refer to as integrated-PV.
These segments do not include results of other activities, such as corporate operating expenses not specifically allocated to the segments. Certain reportable segments are an aggregation of operating segments.
The tables below present our business segment information recast for the prior-year period and a reconciliation to the condensed consolidated financial statements:
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Three Months Ended September 30, 2024
Revenues $ 291,611  $ 89,113  $ 52,613  $ 43,537  $ 23,999  $ 500,873 
Loss on derivatives 1,592  1,342  —  767  —  3,701 
Interest expense, net of interest income 3,577  2,017  1,371  6,203  (1) 13,167 
Depreciation and amortization of intangible assets 9,552  4,751  503  7,494  689  22,989 
Unallocated corporate activity —  —  —  —  —  (20,046)
Income (loss) before taxes, excluding unallocated corporate activity 22,662  9,543  (3,285) 2,236  2,580  33,736 
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Three Months Ended September 30, 2023
Revenues $ 157,700  $ 87,341  $ 40,500  $ 27,319  $ 22,289  $ 335,149 
Gain on derivatives (1,764) (791) —  (492) —  (3,047)
Interest expense, net of interest income 1,758  278  764  4,764  —  7,564 
Depreciation and amortization of intangible assets 7,437  1,229  645  6,669  633  16,613 
Unallocated corporate activity —  —  —  —  —  (20,380)
Income before taxes, excluding unallocated corporate activity 15,712  12,129  1,049  820  1,458  31,168 
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Nine months ended September 30, 2024
Revenues $ 638,027  $ 236,740  $ 169,794  $ 122,248  $ 70,452  $ 1,237,261 
(Gain) loss on derivatives (1,045) 316  —  462  —  (267)
Interest expense, net of interest income 7,788  4,208  3,147  17,634  (1) 32,776 
Depreciation and amortization of intangible assets 26,422  9,626  1,513  21,709  2,001  61,271 
Unallocated corporate activity —  —  —  —  —  (64,821)
Income before taxes, excluding unallocated corporate activity 37,098  26,284  (2,044) 8,258  7,931  77,527 
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Nine Months Ended September 30, 2023
Revenues $ 450,013  $ 226,916  $ 103,121  $ 85,974  $ 67,241  $ 933,265 
Gain on derivatives (2,145) (787) —  (376) —  (3,308)
Interest expense, net of interest income 5,240  864  1,515  10,551  (2) 18,168 
Depreciation and amortization of intangible assets 21,002  3,689  1,430  18,741  1,191  46,053 
Unallocated corporate activity —  —  —  —  —  (56,354)
Income before taxes, excluding unallocated corporate activity 34,981  26,228  2,252  7,446  5,707  76,614 
See Note 3 for additional information about our revenues by product line.