10-QPeriod: Q1 FY2001

EMCOR Group, Inc. Quarterly Report for Q1 Ended Mar 31, 2001

Filed April 24, 2001For Securities:EME

Summary

EMCOR Group, Inc. reported a solid increase in revenues and net income for the first quarter of 2001 compared to the same period in 2000. Revenues grew by 13.0% to $837.6 million, driven by strong performance in its U.S. electrical and mechanical construction and facilities services segments, as well as continued growth in the United Kingdom. Net income increased by 14.7% to $5.7 million, leading to a rise in diluted Earnings Per Share (EPS) to $0.44 from $0.40 in the prior year. The company experienced positive cash flow from operations, a significant improvement from a negative cash flow in the prior year's first quarter. EMCOR's backlog also showed healthy growth, ending the quarter at $2.0 billion, up from $1.8 billion at the end of 2000, indicating a strong pipeline of future business, particularly in its domestic segments.

Key Highlights

  • 1Revenue increased by 13.0% to $837.6 million for the three months ended March 31, 2001, compared to $741.5 million in the prior year.
  • 2Net income rose by 14.7% to $5.7 million for the first quarter of 2001, up from $4.9 million in the same period of 2000.
  • 3Diluted Earnings Per Share (EPS) improved to $0.44 from $0.40 year-over-year.
  • 4The company generated positive net cash from operating activities of $14.4 million, a significant improvement from a negative $3.0 million in the prior year's first quarter.
  • 5Backlog increased to $2.0 billion as of March 31, 2001, compared to $1.8 billion at the end of 2000, suggesting strong future revenue potential.
  • 6Operating income for U.S. electrical construction and facilities services showed a significant increase of 4.4% of revenues, benefiting from favorable market conditions.
  • 7The United Kingdom segment showed improved operating performance, moving from a loss to near break-even.

Frequently Asked Questions

EMCOR Group, Inc. demonstrated strong financial performance in the first quarter of 2001, with revenues increasing by 13.0% to $837.6 million and net income growing by 14.7% to $5.7 million compared to the same period in 2000. Diluted EPS also saw an improvement, rising to $0.44 from $0.40.

The company's cash flow from operations has significantly improved, generating $14.4 million in the first quarter of 2001, a substantial turnaround from the $3.0 million used in operations in the prior year's first quarter. This indicates a healthier cash generation capability.

EMCOR's backlog stood at $2.0 billion at the end of the first quarter of 2001, an increase from $1.8 billion at the end of 2000. This growth, particularly in U.S. domestic segments, suggests a positive outlook and a strong pipeline for future revenue.