EMCOR Group Q1 Net Income Rises; Increases 2024 Guidance

(RTTNews) - EMCOR Group, Inc. (EME) reported first quarter net income of $197.1 million, or $4.17 per share, compared to $111.5 million, or $2.32 per share, a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $2.83, for the quarter. Analysts' estimates typically exclude special items.

For the first quarter of 2024, revenues totaled $3.43 billion, an increase of 18.7%, compared to $2.89 billion for the first quarter of 2023. Analysts on average had estimated $3.22 billion in revenue.

The company increased full-year 2024 revenue guidance range to $14.0 billion - $14.5 billion, from the prior guidance range of $13.5 billion - $14.0 billion. The company also increased full-year 2024 earnings per share guidance range to $15.50 - $16.50, from the prior guidance range of $14.00 - $15.00. Analysts expect the company to report profit per share of $14.49 on revenue of $13.71 billion.

Shares of EMCOR are up 7% in pre-market trade on Thursday.

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