EMCOR said revenue for the quarter ended September 30, 2024 was $3.70 billion, up 15.3% from $3.21 billion a year earlier. Operating income was $363.5 million, or 9.8% of revenues, compared with $235.0 million, or 7.3%, a year earlier.

10-QQuarterly reportFiled Oct 31, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

EMCOR said revenue for the quarter ended September 30, 2024 was $3.70 billion, up 15.3% from $3.21 billion a year earlier. Operating income was $363.5 million, or 9.8% of revenues, compared with $235.0 million, or 7.3%, a year earlier.
The company said net income for the quarter rose to $270.3 million ($5.80 per diluted share) from $169.4 million ($3.57) a year earlier. It also said that a lower weighted average share count, reflecting stock repurchases made in 2023 and in the first 9 months of 2024, benefited diluted earnings per share.
The company said the increase in operating income was mainly driven by improved performance in its U.S. construction segments. Quarterly operating income for the U.S. electrical segment was $119.1 million, or 14.1% of revenues, and for the U.S. mechanical segment was $214.8 million, or 12.9%. The company cited a more favorable mix of work and project execution as factors.
The company said remaining performance obligations as of September 30, 2024 were approximately $9.79 billion. It said cash and cash equivalents, excluding restricted cash, were $1,035.5 million. Of the $1.30 billion revolving credit facility, $1.23 billion was available.

Key figures

Quarter ended September 30, 2024

Revenue: $3.7B
Operating income: $364M
Net income: $270M
EPS: $5.80
Gross profit: $735M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q3 2024 Revenue and Operating Income

EMCOR said revenue for the quarter ended September 30, 2024 was $3.70 billion, up 15.3% from $3.21 billion a year earlier. Operating income was $363.5 million, or 9.8% of revenues, compared with $235.0 million, or 7.3%, a year earlier.

Source · Based on the MD&A text of the filing

Quarterly Net Income and Diluted EPS

The company said net income for the quarter rose to $270.3 million ($5.80 per diluted share) from $169.4 million ($3.57) a year earlier. It also said that a lower weighted average share count, reflecting stock repurchases made in 2023 and in the first 9 months of 2024, benefited diluted earnings per share.

Source · Based on the MD&A text of the filing

Operating income rises at U.S. construction segments

The company said the increase in operating income was mainly driven by improved performance in its U.S. construction segments. Quarterly operating income for the U.S. electrical segment was $119.1 million, or 14.1% of revenues, and for the U.S. mechanical segment was $214.8 million, or 12.9%. The company cited a more favorable mix of work and project execution as factors.

Source · Based on the MD&A text of the filing

Remaining Performance Obligations and Cash and Liquidity

The company said remaining performance obligations as of September 30, 2024 were approximately $9.79 billion. It said cash and cash equivalents, excluding restricted cash, were $1,035.5 million. Of the $1.30 billion revolving credit facility, $1.23 billion was available.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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