Companies /Industrials

Emcor Group Inc

NYSE: EME Engineering & Construction
$775.04
â–² $11.45 (+1.50%) today
Markets closed · 10:30pm ET

Q2 2026 Earnings

Reported Jul 30, 2026, 9:03am ET · SEC source
$9.06
Beat +25.29%
EPS · est. $7.23
$5.2B
Beat +9.44%
Revenue · est. $4.7B
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−5%0+5%+10%Jul 30Jul 31report 9:03am ETearnings+1.5%+5.5%
−5%0+5%+10%Jul 30Jul 31earnings+1.5%+5.5%
EME +5.5%S&P 500 +1.5%
−5%0+5%+10%Jul 30Jul 31report 9:03am ETearnings+2.5%+5.5%
−5%0+5%+10%Jul 30Jul 31earnings+2.5%+5.5%
EME +5.5%NASDAQ +2.5%
−14%−7%0Jul 29Aug 7report 9:03am ETearnings+4.6%+0.9%
−14%−7%0Jul 29Aug 7earnings+4.6%+0.9%
EME +0.9%S&P 500 +4.6%
−14%−7%0+7%Jul 29Aug 7report 9:03am ETearnings+5.7%+0.9%
−14%−7%0+7%Jul 29Aug 7earnings+5.7%+0.9%
EME +0.9%NASDAQ +5.7%
+19.32%
Day of report
−0.62%
Next session
+0.76%
One week

Did EME Beat Earnings? Q2 2026 Results

EMCOR Group, Inc. delivered a blowout second quarter of 2026, posting diluted EPS of $9.06 against a consensus estimate of $7.23, a beat of 25.29% that extended the company's streak of topping Wall Street expectations to five consecutive quarters. Revenue of $5.15 billion rose 19.8% year-over-year and cleared the $4.71 billion consensus by 9.44%, powered by broad-based strength across all four U.S. segments, with the Electrical Construction segment generating a segment-leading 13.9% operating margin and the Mechanical Construction segment contributing $2.30 billion in revenue alone. Operating margins expanded to 10.6% from 9.6% a year ago, reflecting improved cost leverage as SG&A declined as a percentage of revenues. Remaining performance obligations surged 43.9% year-over-year to a record $17.14 billion, with particularly sharp growth in network, communications, and data center-related work, a trend analysts have highlighted as EMCOR remains well-positioned to capture AI infrastructure buildout spending. Management responded to the momentum by substantially raising full-year 2026 guidance, now targeting revenues of $20.00 billion to $20.50 billion, operating margins of 9.5% to 9.8%, and diluted EPS of $32.00 to $33.25.

Key Takeaways
  • Strong performance across all four U.S. reportable segments
  • 19.8% revenue growth year-over-year, with 19.6% organic growth
  • Operating margin expansion to 10.6% from 9.6% year-over-year
  • SG&A expenses declined as a percentage of revenues to 9.2% from 9.7%
  • Record remaining performance obligations of $17.14 billion, up 43.9% year-over-year
  • Significant RPO growth in Network and Communications, Water and Wastewater, Institutional, and Healthcare sectors

“We had an exceptional second quarter, growing revenues nearly 20% and earning an impressive 10.6% operating margin. Our results were driven by strong performance across each of our reportable segments, which demonstrates the consistent execution, discipline, and customer focus that have defined EMCOR's success over many years. Our Remaining Performance Obligations are once again at a record level reflecting sustained demand across several key market sectors and our success in winning new business across multiple customers, geographies, and skilled trades.”

EMCOR CEO, on the earnings call

Forward Guidance & Outlook

EMCOR raised its full-year 2026 guidance significantly. Revenue guidance increased to $20.00 billion–$20.50 billion from $18.50 billion–$19.25 billion. Operating margin guidance was raised to 9.5%–9.8% from 9.0%–9.4%. Diluted EPS guidance was increased to $32.00–$33.25 from $28.25–$29.75. The company cited strong momentum year-to-date and visibility into the remainder of the year as the basis for the raised outlook. Remaining performance obligations reached a record $17.14 billion, up 43.9% year-over-year, providing substantial backlog visibility.

EME YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$2.0B$4.0B$4.3B$5.2BRevenue$833.8M$1.0BGross Profit$415.2M$547.3MOperating Income$302.2M$403.7MNet Income
$0$2.0B$4.0BRevenueGross ProfitOperating IncomeNet Income

EME Revenue by Segment

United States Mechanical Construction and Facilities Services$2.3B+31.1%
United States Electrical Construction and Facilities Services$1.7B+24.0%
United States Building Services$837.7M+5.6%
United States Industrial Services$353.8M+25.9%
United Kingdom Building Services

EME Revenue by Geography

United States$5.2B+23.6%
United Kingdom

Figures from SEC filings and company reports. Not investment advice.