EMCOR Group Inc. (EME) reported that its first-quarter net income attributable to the company increased to $27.1 million, from $24.6 million in the first quarter of 2011. Net income from continuing operations increased $0.40 per share, from $ $0.35 per diluted share, in the first quarter of 2011.
Revenues increased 21.6% to $1.54 billion in the first quarter of 2012, compared to revenues of $1.27 billion in the year ago period.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share on revenues of $1.40 billion for the quarter. Analysts' estimates typically exclude special items.
The Company noted that, based on the current size and mix of its contract backlog and assuming the continuation of current market conditions, it now expects to generate revenues in 2012 of approximately $6.3 billion, versus its previous expectation of approximately $6.0 billion, and expects diluted earnings per share of $1.70 to $1.95, versus its prior expectation of $1.65 to $1.95.
Analysts expected the company to report earnings of $1.94 per share on revenues of $6.02 billion for the second-quarter.
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