Updated

Ameresco (AMRC) is benefiting from a boom in demand tied to data center energy infrastructure, but new analysis points to underlying cash flow problems that could complicate the company's growth narrative. The energy services firm has positioned itself as a beneficiary of the broader AI-driven data center buildout. Despite strong topline momentum from data center-related projects, analysts flagged concerns about the quality of earnings and cash generation, suggesting investors look beyond headline growth figures.