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Mar 31, 2020
Emcor Q1 2020 Earnings Report
EMCOR Group reported record first quarter with revenue increase of 6.5% year-over-year.
Key Takeaways
EMCOR Group reported a record first quarter with revenues of $2.30 billion, a 6.5% increase year-over-year. Diluted EPS reached a record $1.35, a 5.5% increase year-over-year. The company's remaining performance obligations totaled $4.42 billion, a 6.4% increase year-over-year.
Achieved record first quarter revenues, operating income, net income, and diluted earnings per share.
Delivered revenue growth of 6.5%, with 2.7% organic growth led by U.S. Mechanical Construction and U.S. Industrial Services.
U.S. Construction segments delivered solid results with combined revenue and operating income growth of 6.2% and 6.1%, respectively.
Experienced certain disruptions caused by the pandemic late in the first quarter and expect continued headwinds going into the second and possibly into the third quarter.
Emcor
Emcor
Emcor Revenue by Segment
Revenue by Segment
U.S. Electrical Const. Revenue
CapyFin.comU.S. Mechanical Const. Revenue
CapyFin.comU.S. Building Services Revenue
CapyFin.comU.S. Industrial Services Revenue
CapyFin.comUK Building Services Revenue
CapyFin.com Forward Guidance
The company expects continued headwinds going into the second quarter and possibly into the third quarter due to the COVID-19 pandemic. They are well-positioned to continue to serve their customers during this crisis and when the environment normalizes.
Positive Outlook
- Focusing on elements of business within control.
- Reacting to macroeconomic disruptions in a disciplined and process-oriented manner.
- Implemented strict safety protocols for employees.
- Reducing costs where appropriate.
- Continue to perform work for customers where they are able to operate.
Challenges Ahead
- Abrupt drop in activity due to the COVID-19 pandemic.
- Expect continued headwinds going into the second quarter.
- Expect continued headwinds possibly into the third quarter.
- Certain disruptions caused by the pandemic.
- Associated containment and mitigation measures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income