EMCOR Group Guides FY22 Revenues Above 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 2022, based on project mix, current visibility into the coming year, and assuming the impact of the COVID-19 pandemic and supply chain disruptions do not worsen.

For fiscal 2022, the company now projects earnings in a range of $7.15 to $7.85 per share on revenues between $10.4 billion and $10.7 billion.

On average, six analysts polled by Thomson Reuters expect the company to report earnings of $7.67 per share on revenues of $10.28 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company reported net income of $101.7 million or $1.89 per share, higher than $79.8 million or $1.45 per share in the prior year quarter. Excluding items, adjusted net income for the quarter was $102.8 million or $1.86 per share.

Revenues for the quarter grew 15.7 percent to $2.64 billion from $2.28 billion in the same quarter last year.

The Street was looking for earnings of $1.88 per share on revenues of $2.56 billion for the quarter.