Emcor Q3 2023 Earnings Report
Key Takeaways
EMCOR Group, Inc. reported a strong third quarter in 2023, marked by record quarterly revenues of $3.21 billion, a 13.5% increase year-over-year. Diluted earnings per share reached a record $3.57, with non-GAAP diluted EPS at $3.61. The company also saw record remaining performance obligations of $8.64 billion, a 21.6% increase year-over-year. EMCOR raised its full year 2023 revenue guidance to approximately $12.5 billion and increased its non-GAAP diluted EPS guidance range to $12.25 - $12.65.
Record quarterly revenues of $3.21 billion, a 13.5% increase year-over-year.
Record quarterly diluted earnings per share of $3.57, with non-GAAP diluted EPS of $3.61.
Record remaining performance obligations of $8.64 billion, a 21.6% increase year-over-year.
Increased full year 2023 non-GAAP diluted EPS guidance range to $12.25 - $12.65 and revenue guidance to approximately $12.5 billion.
Emcor
Emcor
Emcor Revenue by Segment
Forward Guidance
EMCOR is raising its full year 2023 guidance for revenues and diluted earnings per share. The Company now expects full year 2023 revenues to be approximately $12.5 billion and currently expects full-year 2023 non-GAAP diluted earnings per share in the range of $12.25 to $12.65.
Positive Outlook
- Strong year-to-date results
- Record remaining performance obligations
- Continued resilience of business
- Strong balance sheet as a competitive advantage
- Proven ability to navigate challenging environments
Challenges Ahead
- Uncertain macroeconomic landscape
- Ongoing geopolitical tensions
- Tightened financing conditions
- Uncertain political landscape
- Potential adverse effects of general economic conditions
Revenue & Expenses
Visualization of income flow from segment revenue to net income