Emcor Q1 2022 Earnings Report
Key Takeaways
EMCOR Group, Inc. reported a strong first quarter with record revenues of $2.59 billion, a 12.5% increase year-over-year. The company's remaining performance obligations reached a record $5.95 billion, up 24.7% year-over-year. Diluted EPS was $1.39, compared to $1.54 in the first quarter of 2021. The Board authorized an additional $200 million share repurchase program.
Record first quarter revenues of $2.59 billion, a 12.5% increase year-over-year.
First quarter diluted EPS of $1.39.
Record remaining performance obligations of $5.95 billion, a 24.7% increase year-over-year.
Reaffirmed 2022 revenue and diluted EPS guidance ranges.
Emcor
Emcor
Emcor Revenue by Segment
Forward Guidance
EMCOR is maintaining its full-year 2022 revenue guidance range of $10.4 billion to $10.7 billion and full-year 2022 diluted earnings per share guidance range of $7.15 to $7.85.
Positive Outlook
- Company will continue to execute with discipline and flexibility.
- Optimistic that the non-residential construction market will continue to grow through the year.
- Confident in long-term outlook.
- Committed to maintaining a balanced capital allocation strategy.
- Pursuing organic investments and strategic acquisitions.
Challenges Ahead
- Ongoing supply chain headwinds.
- Operating environment remains volatile.
- Labor disruption caused by the Omicron variant.
- Rising energy costs.
- Ukraine crisis exacerbating supply chain issues.
Revenue & Expenses
Visualization of income flow from segment revenue to net income