Ameresco, Inc.

Thank you for standing by. At this time, I would like to welcome everyone to a Maresco Inc. second quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to redraw your question, again, press the star one. Thank you. I would now like to turn the conference over to Leila Dilan. Please go ahead.

Thank you, Demi, and good afternoon, everyone. We appreciate you joining us for today's call. Our speakers on the call today will be George Sakolaris, MRESCO's Chairman and Chief Executive Officer, and Mark Shipler, Chief Financial Officer. In addition, Nicole Bulgarino, President of Federal and Utility Infrastructure, and Josh Barabo, our Chief Investment Officer, will be available during Q&A to help answer questions. Before I turn the call over to George, I would like to make a brief statement regarding forward-looking remarks. Today's earnings materials contain forward-looking statements, including statements regarding our expectations. All forward-looking statements are subject to risks and uncertainties. Please refer to today's earnings materials, the safe harbor language on slide two of our supplemental information, and our SEC filings for a discussion of the major risk factors that could cause our actual results to differ from those in our forward-looking statements. In addition, we use several non-GAAP measures when presenting our financial results. We have included the reconciliations of these measures and additional information in our supplemental slides that were posted to our website. Please note that all comparisons that we will be discussing today are on a year-over-year basis unless otherwise noted. I will now turn the call over to George. George?

Thank you, Lila, and good afternoon, everyone. We are very pleased to report that MRESCO delivered another quarter of strong financial and operational performance, building upon the momentum generated from our first quarter. Second quarter revenue and adjusted EBITDA grew 8 and 24% respectively, coupled with very strong earnings per share growth. The MRESCO team continued to focus on profitable execution, leveraging our large project backlog and achieving higher profit margin growth than top-line growth. In addition to the contracts awarded in our traditional core business, we also captured significant emerging opportunities to provide energy infrastructure solutions to a number of rapidly growing sectors in both the U.S. and Europe. We believe demand for our diverse portfolio of energy solutions is being driven by the increasing demand for electricity, significant increases in utility rates, and growing grid instability. While we continue to execute on our traditional energy efficiency and renewable energy projects, We are very pleased to see an even broader need for comprehensive energy infrastructure and microgrid solutions. The increase in global electricity prices continues to be top of mind for many of our clients, along with reliability of supply. So I wanted to make some quick comments on that topic. with prices projected to outpace overall inflation for many years to come. We believe this trend will be a meaningful catalyst for our continued growth. Higher power prices drive customer demand for both our core energy efficiency solutions and our integrated on-site generation offerings. This dynamic creates better economics and faster project paybacks for our customers. Diversification has been the foundation of our business model and positions us to take great advantage of the growth opportunities ahead. This comes in three key areas. First, our customer base. We are well diversified across a very broad range of public and private customers. Our expertise and focus on energy infrastructure solutions has enabled us to grow our business with both domestic and international utilities and independent power producers, which now account for over 20% of our total project backlog. We are also pursuing large and exciting opportunities with the CNI market, which we believe offers tremendous growth potential. CNI now represents over 10% of our total project backlog, and we anticipate continued growth in this segment. Second, our technology portfolio. We offer a complete suite of energy efficiency, storage, and generation solutions. Currently, almost half of our total project backlog is comprised of energy infrastructure solutions, including natural gas turbines and engines, cogeneration equipment, hydroelectric, and other power generation technologies, as well as battery energy storage systems and microgrid offerings. And finally, in our geographic reach, We cover the U.S., Canada, the U.K., and many key growth markets in continental Europe. Driven by our continued expansion, Europe now accounts for approximately 20% of our total project backlog. And we see this as a good balance to the changing policies and regulations in the United States. In short, MRSCO continues to demonstrate the diversification is not just a hedge, it's our strategic advantage. And as we prepare for this growth, we continue to stay ahead of the curve by investing in our most important asset, our human capital. Ameresco is well known for hiring and developing industry expertise in cutting-edge technologies well in advance of full commercial potential. Years ago, we demonstrated this with our investments in battery storage, renewable natural gas, and microgrids. Those investments have yielded incredible returns, as Maresco became a go-to provider for these solutions, and they now account for a material part of our business. We are again looking ahead to technologies such as Small Modular Reactors recently hired an executive to focus on developing exciting partnerships in this area of huge potential. We are also investing in our continued European expansion with the hire of a new executive to manage the growing opportunities across continental Europe. Before I turn the call over to Mark, I wanted to cover the policy and regulatory changes in D.C. and their impact on Maresco. At this point, we are pleased to have seen an improved business environment with the federal government compared to the beginning of the year. Not only do we continue to execute on our many federal contracts, but we are also engaged in exciting new opportunities that leverage secure federal land for critical energy infrastructure projects. Along those lines, the White House recently announced an executive order aimed at accelerating the construction of data centers by removing some of the regulatory hurdles, primarily at the permitting level. Importantly, the order also opens the potential for federal land to be used for these sites. We are continuing to evaluate the one big, beautiful bill, and it's expected to impact on our business, especially as additional details from the bill are worked out. At this time, however, we do not believe the bill will have a significant impact on our business. Now, I would like to turn the call over to Mark to provide additional commentary on our excellent results and outlook. Mark?