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Table of Contents
<br />AMERESCO, INC.
<br />CONSOLIDATED STATEMENTS OF INCOME
<br />(In thousands, except per share amounts)
<br />Year Ended December 31,
<br />2023
<br />2022
<br />2021
<br />Revenues
<br />$
<br />1,374,633
<br />$ 1,824,422
<br />$ 1,215,697
<br />Cost ofrevenues
<br />1,128,204
<br />1,533,589
<br />985,340
<br />Gross profit
<br />246,429
<br />290,833
<br />230,357
<br />Earnings (loss) from unconsolidated entities
<br />1,758
<br />1,647
<br />(118)
<br />Selling, general and administrative expenses
<br />162,138
<br />159,488
<br />132,904
<br />Asset impairments
<br />3,831
<br />-
<br />1,901
<br />Operating income
<br />82,218
<br />132,992
<br />95,434
<br />Other expenses, net
<br />43,949
<br />27,273
<br />17,290
<br />Income before income taxes
<br />38,269
<br />105,719
<br />78,144
<br />Income tax (benefit) provision
<br />(25,635)
<br />7,170
<br />(2,047)
<br />Net income
<br />63,904
<br />98,549
<br />80,191
<br />Net income attributable to non -controlling interest and redeemable non -controlling interest
<br />(1,434)
<br />(3,623)
<br />(9,733)
<br />Net income attributable to common shareholders
<br />$
<br />62,470
<br />$ 94,926
<br />$ 70,458
<br />Net income per share attributable to common shareholders:
<br />Basic
<br />$
<br />1.20
<br />$ 1.83
<br />$ 1.38
<br />Diluted
<br />$
<br />1.17
<br />$ 1.78
<br />$ 1.35
<br />Weighted average common shares outstanding:
<br />Basic
<br />52,140
<br />51,841
<br />50,855
<br />Diluted
<br />53,228
<br />53,278
<br />52,268
<br />See accompanying notes to consolidated financial statements
<br />48
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