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EMCOR Group (EME) Tops Q1 EPS by 23c, Beats on Revenue; Raises FY EPS Guide, Maintains FY Revenue Guide

April 27, 2017 7:35 AM EDT

EMCOR Group (NYSE: EME) reported Q1 EPS of $0.88, $0.23 better than the analyst estimate of $0.65. Revenue for the quarter came in at $1.89 billion versus the consensus estimate of $1.78 billion.

- Record First Quarter Revenues of $1.89 Billion, 8.4% Increase Year-over-Year -

- Record First Quarter Diluted EPS from Continuing Operations of $0.88 -

- Total Backlog of $3.97 Billion, 3.2% Increase Year-over-Year -

- Maintains 2017 Revenue Guidance and Raises Low End of Diluted EPS Guidance Range

GUIDANCE:

EMCOR Group sees FY2017 EPS of $3.20-$3.50. EMCOR Group sees FY2017 revenue of $7.5-7.6 billion.

Based on the current size and mix of backlog and current market conditions, EMCOR maintains its full year 2017 revenue guidance of $7.5 billion to $7.6 billion. The Company now expects its full year 2017 diluted earnings per share from continuing operations to be in the range of $3.20 to $3.50, representing a $0.10 increase to the low end of the range.

Mr. Guzzi concluded, “We are very pleased with our operating and financial performance thus far in 2017. In light of first quarter results, our strong backlog and continued strength in the non-residential construction sector, we are raising the low end of our guidance range for diluted earnings per share from continuing operations. Our guidance continues to reflect our expectations for strong growth in our U.S. Construction segments, as well as difficult year-over-year comparisons that we will face over the next two quarters, particularly with respect to our U.S. Industrial Services segment which benefited from a large specialty service project last year. As we look ahead, we will use our healthy balance sheet to capitalize on both organic and acquisition growth opportunities, as well as continue to return capital to our shareholders.”

For earnings history and earnings-related data on EMCOR Group (EME) click here.



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