Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of energy solutions provider Ameresco (NYSE: AMRC) fell as much as 14% in early trading today, after the company reported earnings.

So what: Second-quarter earnings were actually better than expected, with revenue falling slightly to $164.1 million, above estimates of $160.1 million, and earnings per share of $0.11 beating estimates by $0.02. But management said that full-year revenue would likely be between $695 million and $730 million, well below estimates of $811.1 million and down about $100 million from previous estimates.

Now what: Management said that a longer conversion time from awarded contracts to signed contracts is impacting revenue, which will hit the books later than expected. This doesn't change the long-term thesis for the company; it just moves some of the backlog out into 2013, which investors never like. Management still expects net income to be $32 million to $35 million, so shares trade at under 16 times earnings, a decent value considering the potential growth of the business.

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