- Revenue Surpasses Estimates: Emcor’s second-quarter revenue reached $3.67 billion, marking a 20% year-over-year increase, and surpassing the estimated $3.52 billion.
- US Revenue Growth: Emcor’s US revenue grew by 21% year-over-year to $3.56 billion, beating the $3.42 billion estimate.
- UK Building Services Revenue: The UK building services revenue slightly increased by 0.5% year-over-year to $106.6 million, above the $104.9 million estimate.
- Significant Increase in EPS: Emcor’s earnings per share (EPS) soared to $5.25 from $2.95 year-over-year.
- Operating Income Boost: Operating income surged by 69% year-over-year to $332.8 million, exceeding the $238.7 million estimate.
- Updated Full-Year Revenue Guidance: Emcor raised its full-year 2024 revenue guidance range to $14.5 billion – $15.0 billion, up from the previous range of $14.0 billion – $14.5 billion.
- Analyst Ratings: The company’s stock is currently rated with 2 buys, 1 hold, and no sell ratings.
Emcor Group Inc on Smartkarma
Analysts on Smartkarma, including Baptista Research, have been bullish on Emcor Group Inc, a company specializing in electrical and mechanical construction services. In a recent report titled “EMCOR Group: What Is The Expected Impact Of The Shift In Manufacturing To The U.S.? – Major Drivers,” Emcor showed a strong start to 2024 with an 18.7% increase in revenues and a 16.5% growth in Remaining Performance Obligations (RPO). Another report by Baptista Research, “EMCOR Group: Leveraging Prefabrication & Building Information Modeling (BIM),” highlighted the exceptional performance in 2023, with fourth-quarter revenue reaching $3.44 billion and a significant 16.2% organic revenue growth.
In their report “EMCOR Group: Initiation of Coverage – The Unseen Opportunity in High-Tech Manufacturing!“, Baptista Research pointed out all-time quarterly records for Emcor in various financial aspects. The analysts conducted a fundamental analysis of the company’s historical financial statements, showing strong performance in revenues, gross profits, operating income, operating margin, diluted EPS, and Remaining Performance Obligations (RPOs). This positive sentiment from analysts indicates a favorable outlook for Emcor Group Inc in the construction and facilities services sector.
A look at Emcor Group Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
EMCOR Group Inc, a company specializing in mechanical and electrical construction services globally, has a promising long-term outlook as per the Smartkarma Smart Scores. With a high Growth score of 5, the company is positioned for significant expansion and development in the future. Additionally, scoring 4 in both Resilience and Momentum reflects the company’s ability to withstand challenges and maintain a steady pace in the market, indicative of a stable and dynamic nature.
While the Value and Dividend scores are more moderate at 2 each, indicating room for improvement in these areas, the strong performance in Growth, Resilience, and Momentum suggests a positive overall trajectory for EMCOR Group Inc. Investors may find this diversified company appealing for its robust growth potential and resilience in the face of market fluctuations.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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