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Sep 30, 2022
Emcor Q3 2022 Earnings Report
EMCOR Group's Q3 2022 earnings were reported, featuring record quarterly revenues and diluted earnings per share.
Key Takeaways
EMCOR Group, Inc. reported record quarterly revenues of $2.83 billion, a 12.1% increase year-over-year, and record diluted earnings per share of $2.16 for the third quarter of 2022. The company also increased its full-year revenue and diluted earnings per share guidance.
Record quarterly revenues of $2.83 billion, a 12.1% increase year-over-year.
Record quarterly diluted earnings per share of $2.16.
Record remaining performance obligations of $7.10 billion, a 32.0% increase year-over-year.
Increased 2022 revenue guidance to approximately $11.0 billion, up from $10.8 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 is raising its full year 2022 guidance for revenues and diluted earnings per share. The Company now expects full year 2022 revenues to be approximately $11.0 billion and expects full-year diluted earnings per share in the range of $7.60 to $7.85 per share.
Positive Outlook
- Strong year-to-date results
- Record remaining performance obligations
- Continued optimism in ability to successfully perform
- Returning cash to shareholders through share repurchases and dividends
- Focus on acquiring assets that strengthen geographic footprint and project and services capabilities
Challenges Ahead
- Challenging macroeconomic landscape
- Supply chain environment remains very challenging
- Project mix and supply chain issues impacted margins in U.S. Electrical Construction segment
- Foreign exchange headwinds offset growth of the UK Building Services business in local currency terms
- Unspecified risks and uncertainties that could cause actual results to differ materially from those anticipated
Revenue & Expenses
Visualization of income flow from segment revenue to net income