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Sep 30
Emcor Q3 2025 Earnings Report
EMCOR reported strong Q3 2025 results with record revenues, EPS, and backlog.
Key Takeaways
EMCOR delivered record third-quarter results, achieving all-time highs in revenue, net income, and remaining performance obligations, driven by strength across diverse sectors.
Revenue reached a record $4.30 billion, up from $3.70 billion a year ago.
Net income rose to $295.4 million, with EPS hitting a record $6.57.
Operating income totaled $405.7 million with a 9.4% margin.
Remaining performance obligations hit a record $12.61 billion.
Emcor
Emcor
Emcor Revenue by Segment
Emcor Revenue by Geographic Location
Revenue by Segment
US Electrical Services Revenue
CapyFin.comUS Mechanical Services Revenue
CapyFin.comUS Building Services Revenue
CapyFin.comUS Industrial Services Revenue
CapyFin.comUK Building Services Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comUnited Kingdom Revenue
CapyFin.com Forward Guidance
EMCOR raised its full-year 2025 revenue and EPS guidance, reflecting strong execution and demand despite the upcoming sale of its UK operations.
Positive Outlook
- Revenue guidance increased to $16.7–$16.8 billion.
- Non-GAAP EPS guidance raised to $25.00–$25.75.
- Operating margin expected between 9.2% and 9.4%.
- Strong backlog across sectors supports visibility.
- Electrical and Mechanical segments drive growth.
Challenges Ahead
- Anticipated sale of UK Building Services may impact international revenue base.
- Gross margin slightly down due to higher cost of sales.
- SG&A expenses rose 15.7% year-over-year.
- Net interest income declined significantly vs. prior year.
- Operating margin decreased from 9.8% to 9.4%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income