Companies /Industrials

Emcor Group Inc

NYSE: EME Engineering & Construction
$774.37
â–² $10.78 (+1.41%) today
Markets open · 4:15pm ET

Q4 2025 Earnings

Reported Feb 26, 2026, 9:33am ET · SEC source
$7.19
Beat +7.61%
EPS · est. $6.68
$4.5B
Beat +5.37%
Revenue · est. $4.3B
+2.3%
Beating market
EME vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−5%0+5%+10%Feb 26Feb 27report 9:33am ETearnings−1.1%−4.9%
−5%0+5%+10%Feb 26Feb 27earnings−1.1%−4.9%
EME −4.9%S&P 500 −1.1%
−5%0+5%+10%Feb 26Feb 27report 9:33am ETearnings−1.3%−4.9%
−5%0+5%+10%Feb 26Feb 27earnings−1.3%−4.9%
EME −4.9%NASDAQ −1.3%
−5%0+5%+10%Feb 25Mar 6report 9:33am ETearnings−2.3%−2.9%
−5%0+5%+10%Feb 25Mar 6earnings−2.3%−2.9%
EME −2.9%S&P 500 −2.3%
−5%0+5%+10%Feb 25Mar 6report 9:33am ETearnings−1.2%−2.9%
−5%0+5%+10%Feb 25Mar 6earnings−1.2%−2.9%
EME −2.9%NASDAQ −1.2%
−6.94%
Day of report
−2.89%
Next session
−3.64%
One week
−6.04%
30 days

S&P 500 over the same 30 days: −8.32%.

Did EME Beat Earnings? Q4 2025 Results

EMCOR Group delivered a strong finish to fiscal 2025, posting fourth-quarter non-GAAP diluted EPS of $7.19 against a consensus estimate of $6.68, a beat of 7.61%, while revenue of $4.51 billion topped expectations by 5.37% and rose 19.7% year-over-year. The headline driver was broad-based demand across electrical and mechanical construction, with organic revenue growth of 9.5% supplemented by acquisition-related contributions, including the integration of Miller Electric Company. Remaining performance obligations surged 31.2% to a record $13.25 billion, spanning sectors from network and communications to manufacturing and industrial, signaling durable demand well into the coming year. With the stock having rallied sharply over the past twelve months, some analysts still see valuation upside given the strength of the backlog and secular tailwinds. Management's 2026 guidance calls for revenues of $17.75 billion to $18.50 billion and diluted EPS of $27.25 to $29.25, reflecting continued confidence in the demand environment even as tariff exposure, labor scarcity, and supply chain risks remain acknowledged headwinds.

Key Takeaways
  • Strong execution on technically sophisticated, fast-paced, and demanding projects
  • Electrical and Mechanical Construction segments combined full year revenue growth of 24.4% and operating income growth of 21.7%
  • Combined Electrical and Mechanical Construction operating margin of 12.5%
  • Organic revenue growth of 9.5% in Q4 and 7.9% for full year
  • Acquisition contributions including Miller Electric Company adding 10.2% revenue growth in Q4
  • Lower effective tax rate of 24.8% vs 26.7% in prior year Q4
  • Gain of $144.9 million on sale of United Kingdom operations

“We had an excellent close to the year with our fourth quarter results, including strong revenue growth and exceptional operating performance. Our success was driven by solid execution as we continued to perform well on some of the most technically sophisticated, fast-paced, and demanding projects in our history. Our Remaining Performance Obligations are again at an all-time high as we continue to win and earn new business across multiple sectors, geographies, and trades. Our pipeline remains strong, reflecting the broad-based demand for our services and supporting our positive outlook for 2026.”

EMCOR CEO, on the earnings call

Forward Guidance & Outlook

EMCOR issued full-year 2026 guidance with revenues of $17.75 billion to $18.50 billion, operating margins of 9.0% to 9.4%, and diluted EPS of $27.25 to $29.25. Management expressed confidence in the outlook citing record remaining performance obligations of $13.25 billion, broad-based demand across multiple sectors and geographies, and strong pipeline activity supported by long-term secular trends.

EME YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$2.0B$4.0B$3.8B$4.5BRevenue$757.0M$891.2MGross Profit$388.6M$573.8MOperating Income$292.2M$434.6MNet Income
$0$2.0B$4.0BRevenueGross ProfitOperating IncomeNet Income

EME Revenue by Segment

United States Mechanical Construction and Facilities Services$1.9B
United States Electrical Construction and Facilities Services$1.4B
United States Building Services$772.5M
United States Industrial Services$341.1M
United Kingdom Building Services$95.3M

EME Revenue by Geography

United States$4.4B
United Kingdom$95.3M

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