EMCOR Posts 1Q Record Revenue of $3.87 Billion

NORWALK, CT -- EMCOR Group, Inc., a provider of electrical, mechanical and building services, has posted record first quarter revenue that increased almost 13 percent year over year.

The company reported a first quarter profit of $240.7 million, or $5.26 a share, on sales of $3.87 billion, compared to a profit of $197.1 million, or $4.17 a share, on sales of $3.43 billion in the same quarter last year.

Net income included $9.4 million, or $6.9 million after taxes, of transaction-related costs associated with the acquisition of Miller Electric Company, which closed during the quarter.

Operating income for the first quarter of 2025 was $318.8 million, or 8.2% of revenues, compared to operating income of $260.0 million, or 7.6% of revenues, for the first quarter of 2024.

Selling, general and administrative expenses (“SG&A”) for the first quarter of 2025 totaled $404.0 million, or 10.4% of revenues, compared to $329.4 million, or 9.6% of revenues, for the first quarter of 2024.

The Company's income tax rate for the first quarter of 2025 was 25.8%, compared to 26.4% for the first quarter of 2024.

“Our first quarter results, which include 12.7% year-over-year revenue growth, a 22.6% increase in operating income, and $11.75 billion in remaining performance obligations—demonstrate the continued strength of our business,” said Tony Guzzi, chairman, president, and CEO of EMCOR. “Once again, results were driven by our U.S. Electrical Construction and U.S. Mechanical Construction segments, which had year-over-year revenue growth of 42.3% and 10.2%, respectively, and operating margins of 12.5% and 11.9%, respectively.”

Guzzi said EMCOR’s performance reflects “customers' confidence in our ability to execute complex projects across diverse end markets, as well as our proactive expansion into new geographies, and our productivity resulting from the use of virtual design and construction technologies and prefabrication capabilities. Coupled with sustained excellence in labor planning, large project coordination, and the sharing of best practices, we delivered exceptional results for our customers.”

He continued, the integration of Miller Electric is on track and the acquisition contributed $183 million in revenues to our U.S. Electrical Construction segment during the quarter.

“Despite the headwinds in our site-based business, our U.S. Building Services segment performed well as demand remains robust for mechanical services, and our U.K. Building Services segment continued to perform as expected. While the results of our U.S. Industrial Services segment were impacted by a slower start to the turnaround season, we anticipate this segment’s performance will improve throughout the year.”

The company has assets of $8 billion, and liabilities of $5.1 billion.

For more, go to www.emcorgroup.com.