EMCOR Group Q3 Profit, Revenue Rise; Raises Outlook

(RTTNews) - EMCOR Group, Inc. (EME), a provider of electrical and mechanical construction services, Thursday reported growth in earnings for the third quarter, driven by increased revenue. The company also raised its full-year outlook.

For the third quarter, net income was $169.4 million, or $3.57 per share, up from $105.8 million, or $2.16 per share a year ago. Excluding one-time items, earnings were $171.1 million, or $3.61 per share

Revenues for the quarter were $3.21 billion, up 13.5% year on year.

The company now expects full-year revenues to be about $12.5 billion, the top end of its prior guidance range of $12.0 billion - $12.5 billion. Adjusted earnings per share guidance for the year has been raised to $12.25 - $12.65 from $10.75 - $11.25.

EMCOR shares were up more than 5% in pre-market. The sock had closed at $1.60, down 0.63% on Wednesday. It has traded in the range of $131.73 - $227.50 in the last 1 year.