What were the primary drivers of EMCOR's revenue growth in Q3 2026?

EMCOR's revenue growth in Q3 2026 was primarily driven by strong performance across its United States operations, particularly in Electrical and Mechanical Construction and Facilities Services. The company experienced broad-based customer investments in large end markets such as Healthcare, Water and Wastewater, Institutional, and Manufacturing and Industrial sectors. Robust demand in the Network and Communications market for mission-critical facilities also contributed significantly.

How is EMCOR managing its operating margins?

EMCOR demonstrated improved operating margin performance, with operating income increasing to 9.8% of revenues and Non-GAAP operating margin reaching 10.5% in Q3 2026. This improvement was attributed to strong revenue growth, excellent field execution, and improved leverage in selling, general, and administrative (SG&A) expenses. The company also noted discipline and precision in executing technically complex projects as a factor.

What is the significance of the increased Remaining Performance Obligations (RPOs)?

The record $18.57 billion in RPOs as of September 30, 2026, represents a 47.2% increase year-over-year. This substantial growth indicates a strong and expanding backlog of future work. It provides investors with high visibility into future revenue streams and reflects continued demand for EMCOR's services across key sectors, de-risking future revenue projections.

What is EMCOR's outlook for the remainder of 2026, and why has it been updated?

EMCOR has raised its full-year 2026 guidance, now expecting revenues between $20.6 billion and $21.0 billion, up from previous guidance. Non-GAAP Diluted EPS guidance was also increased to $34.50 - $35.50. These increases reflect the company's strong momentum experienced in the first nine months of the year, particularly the exceptional Q3 performance, and improved near-term visibility into ongoing projects and new contract awards.

EME 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed October 29, 2026. Cited figures are marked; the original filing is the authoritative source.

EMCOR Group, Inc. has reported exceptionally strong results for its fiscal 2026 third quarter, driven by a significant increase in revenues and improved operating margins.

Revenues surged by 28.8% year-over-year to a quarterly record of $5.54 billion^a, with organic growth also demonstrating robust performance. This top-line expansion, coupled with effective cost management and enhanced SG&A leverage, led to a substantial increase in profitability. Key financial metrics showcase this growth, with diluted Earnings Per Share (EPS) rising by 37.6% to $9.04 and Non-GAAP Diluted EPS increasing by 46.1% to $9.60.

The company also reported a record backlog of $18.57 billion^b in Remaining Performance Obligations (RPOs), up 47.2% year-over-year, indicating strong future revenue visibility across various sectors, particularly in Network and Communications, Healthcare, and Manufacturing. Based on this momentum, EMCOR has raised its full-year 2026 guidance for both revenue and Non-GAAP Diluted EPS, reflecting management's confidence in continued strong performance. Additionally, the company announced a $500 million increase to its share repurchase program, signaling a commitment to returning capital to shareholders.

02—Key points

Key Highlights

Reported a record third quarter with revenues of $5.54 billion, a 28.8% increase year-over-year.
Achieved a 25.5% organic revenue growth for the quarter, excluding acquisition contributions and the sale of UK operations.
Diluted EPS increased by 37.6% to $9.04, and Non-GAAP Diluted EPS grew by 46.1% to $9.60.
Record Remaining Performance Obligations (RPOs) of $18.57 billion, up 47.2% year-over-year, indicating strong future demand.
Raised full-year 2026 revenue guidance to $20.6 billion - $21.0 billion and Non-GAAP Diluted EPS guidance to $34.50 - $35.50.
Announced an additional $500 million authorization for its share repurchase program.

03—Questions

Frequently Asked Questions

What were the primary drivers of EMCOR's revenue growth in Q3 2026?
EMCOR's revenue growth in Q3 2026 was primarily driven by strong performance across its United States operations, particularly in Electrical and Mechanical Construction and Facilities Services. The company experienced broad-based customer investments in large end markets such as Healthcare, Water and Wastewater, Institutional, and Manufacturing and Industrial sectors. Robust demand in the Network and Communications market for mission-critical facilities also contributed significantly.
How is EMCOR managing its operating margins?
EMCOR demonstrated improved operating margin performance, with operating income increasing to 9.8% of revenues and Non-GAAP operating margin reaching 10.5% in Q3 2026. This improvement was attributed to strong revenue growth, excellent field execution, and improved leverage in selling, general, and administrative (SG&A) expenses. The company also noted discipline and precision in executing technically complex projects as a factor.
What is the significance of the increased Remaining Performance Obligations (RPOs)?
The record $18.57 billion in RPOs as of September 30, 2026, represents a 47.2% increase year-over-year. This substantial growth indicates a strong and expanding backlog of future work. It provides investors with high visibility into future revenue streams and reflects continued demand for EMCOR's services across key sectors, de-risking future revenue projections.
What is EMCOR's outlook for the remainder of 2026, and why has it been updated?
EMCOR has raised its full-year 2026 guidance, now expecting revenues between $20.6 billion and $21.0 billion, up from previous guidance. Non-GAAP Diluted EPS guidance was also increased to $34.50 - $35.50. These increases reflect the company's strong momentum experienced in the first nine months of the year, particularly the exceptional Q3 performance, and improved near-term visibility into ongoing projects and new contract awards.

04—Continue

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