EMCOR Q2 Net Income Rises; Increases 2024 Guidance

(RTTNews) - EMCOR Group (EME) reported net income for the second quarter of $247.6 million, or $5.25 per share, compared to $140.6 million, or $2.95 per share, a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $3.76, for the quarter. Analysts' estimates typically exclude special items.

Revenues were $3.67 billion, an increase of 20.4%, compared to $3.05 billion for the second quarter of 2023. Analysts on average had estimated $3.52 billion in revenue.

EMCOR Group increased full-year 2024 revenue guidance range to $14.5 billion - $15.0 billion, from the prior guidance range of $14.0 billion - $14.5 billion. The company increased full-year 2024 earnings per share guidance range to $19.00 - $20.00, from the prior guidance range of $15.50 - $16.50.

Shares of EMCOR are up 5% in pre-market trade on Thursday.

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