Ameresco Shares Slide After CFO Resignation, Reiterated Guidance

Dow Jones
Aug 21
 

Shares of Ameresco retreated after the company said its chief financial officer is leaving and reiterated revenue guidance that's a touch weaker than Wall Street estimates.

The stock was down 11% at $22.50 on Thursday. Shares have now fallen 23% year-to-date.

The energy infrastructure company said after yesterday's closing bell that Mark Chiplock has resigned as chief financial officer and will leave on Sept. 25. Chiplock has accepted a CFO position at a private equity-owned company in a different industry. The company has initiated a search to find Chiplock's successor.

Ameresco reiterate its full-year guidance, which currently contemplates $2 billion to $2.2 billion in revenue. The midpoint of $2.1 billion is slightly lower than the $2.13 billion consensus estimate of analysts polled by FactSet.

 
 

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