Shares in Ameresco rose after the energy infrastructure company raised its fiscal 2026 adjusted earnings per share guidance as second-quarter revenue increased.

The stock was up 24% to $28.28 in recent trading, but has fallen 3.5% since the start of the year.

The company's revenue rose 9% to $515.5 million in the quarter, driven by broad-based growth across core business lines and strong execution on project backlog conversion. Analysts polled by FactSet expected $465.2 million.

Ameresco raised its adjusted earnings per share guidance range for the fiscal year to between $1.15 and $1.35. Analysts polled by FactSet are expecting $1.21.

For the second quarter, it reported net income of $9.72 million, or 18 cents a share, compared with $12.9 million, or 24 cents a share, a year earlier.

Adjusted earnings per share were 20 cents, matching analyst estimates.

Chief Executive George Sakellaris said the company experienced momentum in its power infrastructure business and advanced three new behind-the-meter data projects during the quarter.

Ameresco said for the second half, it expects activity weighted somewhat more toward the fourth quarter, supported by project execution, backlog conversion and cost management.