EMCOR Q3 2026: Record Revenue and a $18.57B Backlog Signal More Ahead
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Backlog of $18.57 billion, up 47.2% year over year, is the number that matters: data center electrical work is booked well past this quarter's beat. Management also lifted full-year EPS guidance and added to the buyback.
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EMCOR posted record Q3 2026 revenue of $5.54 billion, exceeding expectations, with adjusted non-GAAP EPS of $9.60 also beating expectations for a sixth consecutive quarter.
The number investors are focused on is the $18.57 billion backlog, up 47.2% year over year, largely electrical infrastructure work in data centers and other mission-critical facilities. A backlog that large and growing that fast points to durable demand beyond this quarter.
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The U.S. Electrical Construction segment was the clearest growth engine, with revenue climbing to $1.85 billion from $1.29 billion a year ago as operating margin widened on better SG&A leverage. A $34.0 million non-cash impairment charge on identifiable intangible assets reduced GAAP diluted EPS to $9.04.
Management raised full-year 2026 non-GAAP EPS guidance to $34.50 to $35.50 from $32.00 to $33.25, alongside higher revenue and operating margin targets. The board also authorized an additional $500 million for share repurchases and raised the quarterly dividend to $0.40 per share.
Mentioned: EME