EMCOR Group Guides FY20 In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, EMCOR Group, Inc. (EME) initiated its earnings and revenue guidance for the full-year 2020, based on favorable project mix and assuming the continuation of current market conditions.

For fiscal 2020, the company now projects earnings from continuing operations in a range of $5.60 to $6.30 per share on revenues between $9.5 billion to $9.7 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.00 per share on revenues of $9.67 billion for the year. Analysts' estimates typically exclude special items.

"Following another record year in 2019, we are encouraged by our prospects in 2020, supported by our excellent operating position, robust project pipeline and the sustained growth we see in the non-residential construction market," said Tony Guzzi, Chairman, President and Chief Executive Officer.