EMCOR Q3 revenue up 16.4%, beats estimates

Overview

• EMCOR Q3 revenue grows 16.4% yr/yr, beating analyst expectations

• Record Q3 diluted EPS of $6.57, a 13.3% increase yr/yr

• Record RPOs of $12.61 bln, nearly 29% increase yr/yr

Outlook

• EMCOR narrows 2025 revenue guidance to $16.7 bln - $16.8 bln

• Company narrows 2025 non-GAAP EPS guidance to $25.00 - $25.75

• EMCOR expects strong demand across sectors to support 2025 outlook

Result Drivers

• SECTOR GROWTH - Significant growth in Network and Communications, Water and Wastewater, Institutional, and Manufacturing and Industrial sectors drove results

• STRONG PIPELINE - Record RPOs driven by new business wins across multiple sectors and geographies

• HIGH-TECH MANUFACTURING - Reduction in RPOs due to completion of semiconductor manufacturing projects

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction & engineering peer group is "buy"

• Wall Street's median 12-month price target for EMCOR Group Inc is $710.50, about 9.4% below its October 29 closing price of $777.00

• The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 22 three months ago

Press Release: ID:nBwrQtG2a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)