TSX runs higher on rate cut expectations
NEW YORK -On Wednesday, EMCOR Group, Inc. (NYSE:EME) reported fourth quarter earnings that beat analyst estimates.
The company’s stock went soaring over 5% in pre-market trading after the results.
The construction and facilities services company also provided an upbeat forecast for 2025, signaling continued momentum.
EMCOR posted adjusted earnings per share of $6.32 for Q4, surpassing the analyst consensus of $5.76 by a significant margin. Revenue came in at $3.77 billion, slightly below expectations of $3.8 billion but up 9.6% YoY.
For the full year 2024, EMCOR achieved record revenues of $14.57 billion, a 15.8% increase from 2023. Net income rose to $1.0 billion, or $21.52 per diluted share, compared to $633.0 million, or $13.31 per diluted share, in the previous year.
Looking ahead, EMCOR provided a strong outlook for fiscal 2025. The company expects full-year revenues between $16.1 billion and $16.9 billion, above the analyst consensus of $15.79 billion. Earnings per share are projected in the range of $22.25 to $24.00, compared to analysts’ expectations of $22.89.
"2024 was a remarkable year for EMCOR, marked by outstanding execution for our customers and record-breaking achievements across nearly every metric for the Company," said Tony Guzzi, Chairman, President, and Chief Executive Officer of EMCOR.
The company’s remaining performance obligations reached a record $10.10 billion as of December 31, 2024, up 14.2% YoY, providing solid visibility into 2025.
EMCOR’s board also authorized an additional $500 million for share repurchases, reflecting confidence in the company’s financial position and commitment to returning capital to shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.