Emcor Q2 2023 Earnings Report
Key Takeaways
EMCOR Group, Inc. reported record quarterly revenues of $3.05 billion, a 12.5% increase year-over-year, and a record diluted EPS of $2.95, a 48.2% increase year-over-year. The company's remaining performance obligations also reached a record $8.29 billion, a 28.2% increase year-over-year. EMCOR increased its 2023 diluted EPS guidance range to $10.75 - $11.25 from $9.25 - $10.00.
Record quarterly revenues of $3.05 billion, a 12.5% increase year-over-year.
Record quarterly diluted EPS of $2.95, a 48.2% increase year-over-year.
Record remaining performance obligations of $8.29 billion, a 28.2% increase year-over-year.
Increased 2023 diluted EPS guidance range to $10.75 - $11.25 from $9.25 - $10.00.
Emcor
Emcor
Emcor Revenue by Segment
Forward Guidance
EMCOR is increasing its full-year 2023 diluted earnings per share guidance range to $10.75 to $11.25, an increase from the prior guidance range of $9.25 to $10.00. The Company is maintaining its full-year 2023 revenue guidance of $12.0 billion to $12.5 billion.
Positive Outlook
- Full-year 2023 diluted earnings per share guidance range increased to $10.75 - $11.25.
- Executing with discipline and flexibility.
- Investments over the past few years continue to position us well as we advance forward through 2023.
- Mitigating supply chain obstacles and operating with greater efficiency.
- Robust balance sheet is a differentiator as we serve sophisticated customers on large, complex, and technologically advanced projects.
Challenges Ahead
- Supply chain challenges have persisted.
- Persistent inflationary pressures.
- Fluctuations in energy costs.
- Labor market tightness.
- Productivity challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income