EMCOR Group, Inc. (EME) Tops Q1 EPS by 12c; Boosts FY14 EPS Midpoint

EMCOR Group, Inc. (NYSE: EME) reported Q1 EPS of $0.64, $0.12 better than the analyst estimate of $0.52. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.62 billion.

Backlog as of March 31, 2014 was $3.37 billion, a decrease of 1.3% from $3.42 billion at the end of the 2013 first quarter as a consequence of a $65 million backlog decline in the UK segment relating to the Company’s decision to withdraw from the UK construction market. U.S. backlog grew by $19 million which included backlog growth in the U.S. Construction and U.S. Industrial Services segments offset by expected declines in the U.S. Building Services segment due to 2013 portfolio reshaping. Backlog growth in the commercial, transportation, healthcare and water/wastewater sectors was offset by declines in the institutional, industrial and hospitality/gaming sectors. Total backlog of $3.37 billion as of March 31, 2014 increased by 0.4% from $3.36 billion as of December 31, 2013.

EMCOR Group, Inc. sees FY2014 EPS of $2.45-$2.70, versus prior guidance of $2.4-$2.7 and the consensus of $2.57.

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

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