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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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