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EMCOR Reports Record Q4 Revenues

EMCOR Group, Inc. (NYSE: EME) today reported results for the fourth quarter and fiscal year ended December 31, 2016. For the fourth quarter of 2016, net income from continuing operations attributable to EMCOR was $42.2 million, or $0.69 per diluted share, compared to $50.4 million in the fourth quarter of 2015.
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Emcor Group, Inc.:
 

EMCOR Group, Inc. (NYSE: EME) today reported results for the fourth quarter and fiscal year ended December 31, 2016. For the fourth quarter of 2016, net income from continuing operations attributable to EMCOR was $42.2 million, or $0.69 per diluted share, compared to $50.4 million, or $0.80 per diluted share, in the fourth quarter of 2015.

 

Excluding an impairment charge detailed below, non-GAAP net income from continuing operations was $43.7 million, or $0.72 per diluted share, in the fourth quarter of 2016. Revenues for the fourth quarter of 2016 totaled $1.95 billion, an increase of 9.7%, compared to $1.78 billion in the fourth quarter 2015.

 

Operating income for the fourth quarter of 2016 was $74.5 million, or 3.8% of revenues, compared to operating income of $84.1 million, or 4.7% of revenues, in the fourth quarter of 2015. Included in the operating income for the fourth quarter of 2016 was an impairment charge of $2.4 million. Excluding this impairment charge, non-GAAP operating income in the fourth quarter of 2016 was $76.9 million, or 3.9% of revenues. Included in both GAAP and non-GAAP operating income for the fourth quarter of 2016 was a $20.5 million project loss associated with a contract dispute on a completed project within our U.S. Mechanical Construction segment.

 

Additional information is in the tables at: http://www.emcorgroup.com/application/files/2314/8785/1832/4Q16_Release_w_Tables.pdf

 

Emcor Group Inc.

About Emcor Group Inc.

EMCOR Group, Inc. is a Fortune 500 leader in mechanical and electrical construction services, industrial and energy infrastructure and building services. www.emcorgroup.com

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