Overview

• US mechanical and electrical contractor's Q1 revenue rose 20% yr/yr, beating analyst expectations

• Q1 diluted EPS grew 30% yr/yr to $6.84

• Company raised 2026 revenue and EPS guidance

Outlook

• EMCOR raises 2026 revenue guidance to $18.5 bln-$19.25 bln from $17.75 bln-$18.5 bln

• Company lifts 2026 diluted EPS guidance to $28.25-$29.75 from $27.25-$29.25

• EMCOR maintains 2026 operating margin outlook at 9.0%-9.4%

Result Drivers

• SECTOR MOMENTUM - Co cited sustained momentum across key market sectors and geographies as supporting record Q1 revenue and operating performance

• DIVERSIFIED BOOKINGS - Record remaining performance obligations driven by quality and diversity of bookings, with significant growth in Network and Communications, Water and Wastewater, Institutional, and Healthcare sectors

• OPERATIONAL EXECUTION - Strategic positioning and operational excellence across construction and services platforms contributed to results, per CEO Tony Guzzi

Company press release: ID:nBwt6st3a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$4.63 bln	$4.20 bln (9 Analysts)
Q1 EPS		$6.84

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction & engineering peer group is "buy"

• Wall Street's median 12-month price target for EMCOR Group Inc is $848.00, about 1.8% below its April 28 closing price of $863.78

• The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 22 three months ago

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