Ameresco Slides 11% as CFO Exit and Soft Guidance Spook Investors
AMRC sits 22% above its 52-week low of $18.375 on elevated volume (1.8× avg).
Summary
Ameresco shares fell 11% to $22.50 after the company confirmed CFO Mark Chiplock's resignation and reiterated full-year revenue guidance of $2.0B-$2.2B, whose midpoint of $2.1B sits slightly below the $2.13B consensus. The CFO departure was announced after Wednesday's close, but today's sharp selloff reflects the market's reaction to both the leadership change and the guidance shortfall. This follows the 8-K filed yesterday detailing Chiplock's exit to a private equity-owned company, and the stock is now down 23% year-to-date. The company has initiated a search for a successor, adding near-term uncertainty to the finance function. With backlog at $6.7B and Q2 revenue up 9%, the core business remains solid, but the combination of executive turnover and a guidance midpoint below Street estimates is pressuring the stock.
At the time of this announcement, AMRC was trading at $22.49 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $18.38 to $44.93. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.