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Mar 31, 2023
Emcor Q1 2023 Earnings Report
EMCOR Group's Q1 2023 results were reported, featuring record revenues and EPS.
Key Takeaways
EMCOR Group, Inc. reported record first quarter revenues of $2.89 billion, an 11.5% increase year-over-year. Diluted EPS also reached a record $2.32, a 66.9% increase year-over-year. The company increased its full-year 2023 diluted earnings per share guidance range to $9.25 - $10.00.
Record first quarter revenues of $2.89 billion, an 11.5% increase year-over-year.
Record first quarter diluted EPS of $2.32, a 66.9% increase year-over-year.
Record remaining performance obligations of $7.87 billion, a 32.3% increase year-over-year.
Increased 2023 diluted EPS guidance range to $9.25 - $10.00 from $8.75 - $9.50.
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
EMCOR is increasing its full-year 2023 diluted earnings per share guidance range to $9.25 to $10.00 and maintaining its full-year 2023 revenue guidance of $12.0 billion to $12.5 billion.
Positive Outlook
- Strong near-term visibility with a healthy project pipeline.
- Expect to generate strong operating cash flow.
- Committed to a balanced capital allocation strategy.
- Pursuing both organic investments and strategic acquisitions.
- Returning capital to shareholders through share repurchases and dividends.
Challenges Ahead
- Supply chain challenges still exist.
- Inflationary pressures still exist.
- U.K. Building Services segment faced recessionary pressure.
- U.K. Building Services segment faced foreign exchange headwinds.
- Challenging operating environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income