- Record Quarterly Revenues of $2.05 Billion, 8.5% Increase Year-over-Year -
- Record Quarterly Diluted EPS from Cont. Operations of $1.36, 24.8% Increase Year-over-Year -
- Increases Full-Year Revenue Guidance and Diluted EPS Guidance Range -
- Board Authorizes an Additional $200 Million Share Repurchase Program -
Tony Guzzi, Chairman, President and Chief Executive Officer of EMCOR, commented, “The Company had another excellent quarter, achieving record quarterly revenues, operating income and diluted earnings per share. We delivered an 8.5% increase in revenues, 7.5% of which was organic, driven by year-over-year
growth in each of our segments. With this increase in revenues, operating income grew 5.4% year-over-year.
Additionally, we continue to capitalize on the broad-based strength that we are seeing across our end markets, as demonstrated by our 8.1% sequential increase in remaining performance obligations.”
Mr. Guzzi added, “Our U.S. Electrical and Mechanical Construction segments delivered revenue growth of 6.1% and 1.6% year-over-year, respectively. Their combined operating margin of 7.4% reflects strong execution that continues to drive impressive results. In our U.S. Building Services segment, we saw
sustained momentum with the business generating 6.4% organic revenue growth and 12.6% operating income growth year-over-year led by solid performance in the mechanical, energy and government sitebased services businesses. While the positive comparison in our U.S. Industrial Services segment resulted
from the impact of Hurricane Harvey in the year-ago period, we are pleased to report that we have begun to see a resumption in normal demand and anticipate further improvement in the seasonally strong fourth quarter. Finally, we remain pleased by our strength in the U.K. Building Services segment as we continue to
capitalize on increased project activity which drove revenue growth of 17.1% and operating margin expansion of 40 basis points.”
EMCOR Group Inc. :: EMCOR Group, Inc. Reports Third Quarter 2018 Results
