Emcor Credits ‘Capabilities’ for Record Sales

NORWALK, CT – With record third quarter revenues, EMCOR Group, Inc., a provider of construction and building services, is crediting its “differentiated technical capabilities” and the strength of its operating model.

The company posted a profit of $399.9 million, or $9.04 per share, on sales of $5.54 billion, compared to $295.4 million, or $6.57 a share, on sales of $4.3 billion in last year’s third quarter.

On an organic basis, when adjusting for incremental acquisition contribution and the impact of the sale of the Company's United Kingdom operations in 2025, third quarter revenues increased by 25.5%.

Net income for the third quarter of 2026 included a non-cash impairment loss on identifiable intangible assets of $34.0 million, or $24.7 million after taxes. Excluding such impairment, non-GAAP net income for the third quarter of 2026 was $424.7 million, or $9.60 per diluted share.

Operating income for the third quarter of 2026 was $545.8 million, or 9.8% of revenues, compared to operating income of $405.7 million, or 9.4% of revenues, for the third quarter of 2025.

Selling, general and administrative expenses for the third quarter of 2026 totaled $528.4 million, or 9.5% of revenues, compared to $429.6 million, or 10.0% of revenues, for the third quarter of 2025.

The Company's income tax rate for the third quarter of 2026 was 27.2%, compared to 27.5% for the third quarter of 2025.

The Company benefited from a broad range of customer investments across other large end markets, including the Healthcare, Water and Wastewater, Institutional, and Manufacturing and Industrial sectors.

“EMCOR delivered another quarter of exceptional growth, margin performance, operating cash flow, and capital allocation,” said Tony Guzzi, chairman, president, and CEO. “Our strong revenue growth, coupled with excellent field execution and improved SG&A leverage, resulted in meaningful expansion of our operating margin. We continued to outgrow the broader non-residential construction market, reinforcing the depth of demand for our services."

Revenues for the first nine months of 2026 totaled $15.32 billion, an increase of 22.9%, compared to revenues of $12.47 billion for the first nine months of 2025.

Net income for the first nine months of 2026 was $1.11 billion, or $24.93 per diluted share, compared to $838.2 million, or $18.53 per diluted share, for the first nine months of 2025.

Guzzi said, “Our field leaders continued to exhibit discipline and precision while executing some of the industry's largest and most technically complex projects. The expertise of our foremen, superintendents, project managers, and operating leaders drives safe, reliable execution and supports repeat business with our customers. As we close 2026, we remain well-positioned to capitalize on the long-term demand trends supporting our business, while creating further value for our shareholders."

The company has assets of $11.2 billion, and liabilities of $6.96 billion.