Emcor Q1 2024 Earnings Report
Key Takeaways
EMCOR Group, Inc. reported a strong first quarter in 2024, with revenues reaching $3.43 billion, an 18.7% increase year-over-year. Diluted EPS increased by 79.7% to $4.17, and the company's remaining performance obligations reached a record $9.18 billion. As a result, EMCOR increased its full-year revenue and EPS guidance for 2024.
Revenues for Q1 2024 totaled $3.43 billion, an 18.7% increase compared to Q1 2023.
Diluted EPS for Q1 2024 was $4.17, a 79.7% increase compared to Q1 2023.
Remaining performance obligations reached a record $9.18 billion, a 16.5% increase year-over-year.
Full-year 2024 revenue guidance was increased to $14.0 billion - $14.5 billion, and diluted EPS guidance was increased to $15.50 - $16.50.
Emcor
Emcor
Emcor Revenue by Segment
Forward Guidance
EMCOR increased its full-year 2024 revenue guidance range to $14.0 billion - $14.5 billion and its diluted earnings per share guidance range to $15.50 - $16.50.
Positive Outlook
- Increased full-year 2024 revenue guidance range to $14.0 billion - $14.5 billion.
- Increased full-year 2024 diluted earnings per share guidance range to $15.50 - $16.50.
- Strong demand across many market sectors.
- Outstanding performance on demanding projects.
- Confidence in raising guidance due to the right strategy and team execution.