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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.
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