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Jun 30, 2020
Emcor Q2 2020 Earnings Report
Reported second quarter results with a decrease in revenue but demonstrated excellent execution during unprecedented times.
Key Takeaways
EMCOR Group, Inc. reported a decrease in revenues for the second quarter of 2020, totaling $2.01 billion, a 13.3% decrease year-over-year. The company reported a net loss of $83.7 million, or $(1.52) per diluted share, but a non-GAAP diluted EPS of $1.44. Remaining performance obligations grew 8.6% year-over-year to $4.59 billion.
Second quarter revenues decreased by 13.3% year-over-year to $2.01 billion.
Diluted loss per share was $(1.52), while non-GAAP diluted EPS was $1.44.
Record second quarter operating cash flow of $355.6 million was achieved.
Total remaining performance obligations increased by 8.6% year-over-year to $4.59 billion.
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 expects full-year 2020 revenues to be between $8.6 billion and $8.7 billion, and full-year 2020 non-GAAP diluted earnings per share in the range of $5.00 to $5.50.
Positive Outlook
- Focus on elements of business in control.
- Protecting the health and safety of employees.
- Adjusting operations as necessary in a disciplined and process-oriented manner.
- Growing remaining performance obligations.
- Solid financial position.
Challenges Ahead
- Guidance contingent on the environment remaining relatively consistent.
- No widespread shutdowns, such as those experienced earlier this year.
- Uncertainty surrounding the COVID-19 pandemic.
- Impact on the economy.
- Challenging environment in the U.S. Industrial Services segment due to COVID-19 and volatility in the oil and gas market.
Revenue & Expenses
Visualization of income flow from segment revenue to net income