EMCOR Group reported a strong first quarter with record revenues and diluted EPS, driven by broad-based growth across its U.S. operations. The company raised its full-year guidance, reflecting sustained momentum and a robust backlog of projects.
Record quarterly revenues of $4.63 billion, a 19.7% increase year-over-year.
positiveDiluted EPS of $6.84, a 30.0% increase year-over-year.
positiveRecord Remaining Performance Obligations (RPOs) of $15.62 billion, up 32.9% year-over-year.
positiveOperating income increased to $403.8 million, with operating margin improving to 8.7% from 8.2% in the prior year.
positiveFull-year 2026 revenue guidance increased to $18.50 billion - $19.25 billion from $17.75 billion - $18.50 billion.
positiveFull-year 2026 diluted EPS guidance increased to $28.25 - $29.75 from $27.25 - $29.25.
positiveNet cash provided by operating activities was $558 thousand in Q1 2026, a significant decrease from $108.5 million in Q1 2025.
attentionPayments for acquisitions of businesses were $43.7 million in Q1 2026, compared to $850.6 million in Q1 2025, indicating a substantial slowdown in acquisition activity.
attentionInventories increased to $130.2 million from $126.3 million in the prior quarter, a 3.1% increase.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
United States electrical construction and facilities services | N/A | — | — | — |
United States mechanical construction and facilities services | N/A | — | — | — |
United States building services | N/A | — | — | — |
United States industrial services | N/A | — | — | — |
United Kingdom building services | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
We started the year well, with record quarterly revenues and strong operating performance as we experienced sustained momentum across several key market sectors and geographies.
These results reflect our strategic positioning and operational excellence across our construction and services platforms while demonstrating our customers' confidence in EMCOR as a partner of choice for complex and mission-critical projects.
Our Remaining Performance Obligations are again at record levels and we are pleased with the quality and diversity of our bookings during the quarter.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.