- Record Quarterly and Full-Year Revenues of
$2.23 billion and $8.13 billion, respectively -
- Record Quarterly Diluted EPS from Cont. Operations of
$1.38, 53.3% Increase Year-over-Year -
- Record Full-Year Diluted EPS from Cont. Operations of
$4.89, 27.7% Increase Year-over-Year -
- Announces 2019 Revenues and Diluted EPS Guidance -
Tony Guzzi, Chairman, President and Chief Executive Officer of EMCOR, commented, “The Company closed out another terrific year achieving record quarterly revenues, operating income, net income and diluted earnings per share from continuing operations. We delivered a 10.8% increase in revenues during the fourth
quarter and a 5.8% increase for the year, the majority of which was organic, underscored by broad-based strength across our segments. Our exceptional execution coupled with disciplined cost control drove strong operating margins of 5.1% and 5.0% for the fourth quarter and full year, respectively. Despite posting
impressive revenue growth, our remaining performance obligations continue to be solid and diverse across end market sectors, and we remain well-positioned to capitalize on the sustained non-residential construction
growth expected throughout 2019.”
Mr. Guzzi added, “Our U.S. Construction segments continue to deliver robust revenue performance, with combined revenue growth of 5.7% and 3.8% for the fourth quarter and full year, respectively, reflecting sustained market demand for our services. Solid operating margins of 7.1% in our U.S. Electrical Construction segment and 7.3% in our U.S. Mechanical Construction segment for the full-year period reflect strong execution across our portfolio of construction projects. Our U.S. Building Services segment continued its strong operational performance, posting double-digit revenue and operating income growth for the fourth
quarter, primarily driven by our mechanical, energy and commercial site-based services operations. As expected, we saw a recovery in demand in our U.S. Industrial Services segment during the fourth quarter,
with improvement in both our shop and field services operations, including turnaround project activity. Finally, our U.K. Building Services segment had a strong 2018, delivering revenue and operating income growth of 21.8% and 23.4%, respectively, for the full-year period, as we continue to execute on specialty project opportunities and new service contract awards.”
EMCOR Group Inc. :: EMCOR Group, Inc. Reports Fourth Quarter and Full-Year 2018 Results
