Welcome to our dedicated page for Emcor Group news (Ticker: EME), a resource for investors and traders seeking the latest updates and insights on Emcor Group stock.
EMCOR Group, Inc. reports news around its work as a mechanical and electrical construction contractor, industrial and energy infrastructure provider, and building services company. Updates commonly cover quarterly results, revenue guidance, remaining performance obligations, dividend declarations, investor presentations, and operating commentary across commercial, technology, manufacturing, industrial, healthcare, utility, and institutional markets.
Company releases also include project and subsidiary activity, such as HVAC and mechanical systems work by Hill York Service Company, along with earnings webcast notices and capital-return announcements tied to EMCOR's common stock.
Shambaugh & Son, a subsidiary of EMCOR Group, has completed a state-of-the-art cheese processing and whey drying facility for MWC, LLC. This facility, recognized with a 2021 Manufacturing Innovation Award, can process 25% of Michigan's milk and produces 850,000 pounds of cheese daily. The project involved significant technological advancements and a billion-dollar investment in the Michigan dairy industry. MWC is a joint venture of Glanbia plc, Select Milk Producers, and Dairy Farmers of America. The construction utilized advanced methods, integrating models from multiple vendors for seamless execution.
EMCOR Group, Inc. (NYSE: EME) has promoted Maxine Lum Mauricio to Executive Vice President, effective immediately. She will continue to serve as General Counsel and Corporate Secretary, overseeing legal, cybersecurity, and diversity initiatives. CEO Anthony J. Guzzi praised Mauricio's leadership and her critical role in strategic decision-making. She has been with the company since 2002 and held various positions, including Deputy General Counsel and General Counsel. Mauricio is also a board member of Novanta Inc. and holds degrees from Dartmouth College and Harvard Law School.
EMCOR Group, Inc. (NYSE: EME) reported its fourth quarter and full-year financial results for 2020, showing net income of $79.8 million, down from $86.9 million in Q4 2019. Revenue for Q4 decreased by 5.1% to $2.28 billion. Despite challenges, non-GAAP net income rose to $102.8 million. The company's operating income improved to $137.6 million, or 6.0% of revenues. Full-year revenues declined 4.1% to $8.80 billion. Looking ahead, EMCOR expects 2021 revenues between $9.2 billion and $9.4 billion and EPS of $6.20 to $6.70, reflecting cautious optimism.
EMCOR Group, Inc. (NYSE: EME) announced the election of Major General (U.S. Army, Retired) Ronald L. Johnson to its Board of Directors, effective March 1, 2021. With over 40 years of leadership experience, Johnson is Professor of Practice at Georgia Tech and has a background in the NBA as Senior Vice President, Referee Operations. His extensive military career includes serving as Deputy Commanding General in the U.S. Army. CEO Anthony J. Guzzi praised Johnson's strategic expertise, anticipating his contributions to growth and shareholder value.
EMCOR Group, Inc. (NYSE: EME) will announce its fourth quarter 2020 results on February 25, 2021. The conference call will start at 10:30 AM EST and will be hosted by CEO Tony Guzzi and CFO Mark Pompa, among others. The call will be available live via a webcast on their website, with a replay accessible two hours post-call until March 25, 2021. EMCOR is known for its capabilities in mechanical and electrical construction, industrial and energy infrastructure, and building services.
EMCOR Group, Inc. (NYSE: EME) has announced a regular quarterly cash dividend of $0.13 per common share, which will be disbursed on January 29, 2021. Stockholders of record as of January 19, 2021 will be eligible for this dividend. EMCOR Group is recognized as a Fortune 500 leader in mechanical and electrical construction services, along with industrial and energy infrastructure.
EMCOR Group, Inc. (NYSE: EME) has announced an increase in its quarterly dividend from $0.08 to $0.13 per share, effective January 29, 2021, for shareholders of record by January 19, 2021. The company projects an annualized dividend of $0.52 per share. CEO Tony Guzzi expressed confidence in EMCOR's financial strength and strategic investments for long-term growth. The firm emphasizes its strong balance sheet and consistent cash flow, which supports returning cash to shareholders while pursuing growth opportunities.
EMCOR Group, Inc. (NYSE: EME) invites investors to join a live Fire Side Chat at the Credit Suisse 8th Annual Industrials Virtual Conference on December 3rd at 3:10 p.m. ET. The chat will feature Chairman, President and CEO Tony Guzzi, Executive Vice President and CFO Mark Pompa, and Executive Vice President Kevin Matz. Interested parties can tune in via a webcast on the Company's website. An archived version of the chat will also be available for two weeks after the event.
Progressive Pipe Fabricators, part of Shambaugh & Son L.P., has opened a new 82,000-square-foot facility in Trinity, Alabama. The plant will produce over 20,000 individual sprinklers weekly and ship more than 1 million pounds of fabricated sprinkler pipe. This expansion enhances their sustainability efforts while creating 60 new jobs in the local community. The facility aims to serve a wider geographic area, reducing fuel consumption and improving market speed. The opening event attracted notable attendees from Alabama and the National Fire Sprinkler Association.
EMCOR Group, Inc. (NYSE: EME) reported its third-quarter 2020 results, revealing a net income of $61.2 million, down from $81.8 million in Q3 2019, primarily impacted by impairment charges. Revenues decreased 3.8% to $2.20 billion. Despite the decline, non-GAAP net income increased to $97 million, or $1.76 per diluted share. The company raised its full-year revenue guidance to approximately $8.7 billion and expects non-GAAP EPS between $5.90 and $6.10. EMCOR's strong operating income and cash flow generation demonstrate resilience amid COVID-19 challenges.