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Dec 31, 2023
Emcor Q4 2023 Earnings Report
Reported record revenues and EPS for Q4 2023.
Key Takeaways
EMCOR Group, Inc. reported record fourth quarter revenues of $3.44 billion, a 16.6% increase compared to the fourth quarter of 2022. Diluted EPS was $4.47, compared to $2.63 in the prior year. Remaining performance obligations reached a record $8.85 billion, up 18.6% year-over-year.
Record quarterly revenue of $3.44 billion, up 16.6% year-over-year.
Record quarterly diluted EPS of $4.47, compared to $2.63 in the prior year.
Operating income increased to $289.2 million, or 8.4% of revenues.
Remaining performance obligations reached a record $8.85 billion, up 18.6% year-over-year.
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 2024 revenues to be between $13.5 billion and $14.0 billion and full-year 2024 diluted earnings per share to be in the range of $14.00 to $15.00.
Positive Outlook
- Strong project pipeline.
- Benefits from long-term secular trends.
- Investments in BIM and prefabrication.
- Disciplined approach to capital allocation.
- Focus on returning capital to shareholders.
Challenges Ahead
- Macroeconomic headwinds.
- Factors that could impact performance and execution.
- Challenging operating environment.
- Labor market tightness and/or disruption.
- Supply chain disruptions impacting availability and pricing of materials.
Revenue & Expenses
Visualization of income flow from segment revenue to net income