logo
Plus   Neg
Share
Email

EMCOR Group Q2 Profit Rises; Lifts 2019 Outlook

EMCOR Group Inc. (EME) reported that its net income from continuing operations attributable to the company for the second quarter of 2019 rose to $84.0 million, or $1.49 per share, from $71.0 million, or $1.21 per share in the second quarter of 2018.

Excluding an impairment charge in the prior year, non-GAAP net income from continuing operations attributable to EMCOR was $71.9 million, or $1.23 per share, for the second quarter of 2018.

Revenues for the second quarter were $2.32 billion, an increase of 19.0% from the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.33 per share and revenues of $2.12 billion. Analysts' estimates typically exclude special items.

EMCOR raised its full-year 2019 revenue guidance range to $8.8 billion - $8.9 billion, an increase from the prior guidance range of $8.5 billion - $8.6 billion.

The company now also expects full-year 2019 earnings per share from continuing operations to be in the range of $5.50-$5.75, an increase from the prior guidance range of $5.00-$5.50.

Wall Street currently is looking for fiscal year 2019 earnings of $5.49 per share on annual revenues of $8.66 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
United Airlines has announced that tickets for the Bombardier CRJ-550 will be available for purchase starting Saturday, October 12 for travel beginning Sunday, October 27. United Airlines also revealed the first 15 routes for the new Bombardier CRJ-550 aircraft. Initially, the CRJ-550 will fly out... Coffee retail giant Starbucks (SBUX) announced its plan to expand its profit-sharing Community Store program in Korea. The company plans to open the first of several locations in early 2020. The country is one of three Starbucks markets with Community Stores, according to a press release. Starbucks... Toyota Motor Corp. has unveiled the second-generation of its hydrogen fuel-cell car, the Mirai, saying it expects the new sedan will help it to realize the goal of a hydrogen energy society. The new Mirai will seat one more than the current model and also features a fully-redesigned fuel cell system that offers up to a 30 percent increase in driving range.
RELATED NEWS
Follow RTT
>