Thu, Jul 25, 11:34 AM (44 days ago)
EMCOR Group, Inc. reported a robust performance for the quarter ended June 30, 2024, with revenues hitting a record $3.67 billion, up 20.4% year-over-year. Operating income soared to $332.8 million, reflecting a margin of 9.1%, driven by strong performance across U.S. construction segments and improved project execution. Net income was $247.6 million, translating to $5.25 per diluted share, significantly higher than the prior year's $2.95 per share. The company’s cash flow from operations was $412.0 million, a substantial increase from $214.9 million in the prior year, bolstered by enhanced profitability. EMCOR’s balance sheet remains strong with $807.3 million in cash and cash equivalents. Future outlook remains positive despite potential macroeconomic uncertainties, supported by a solid backlog of $9.0 billion in remaining performance obligations.