EMCOR Q1 Profit Rises; Ups Bottom-End Of 2014 Earnings View - Quick Facts

(RTTNews) - EMCOR Group, Inc. (EME), a provider of mechanical and electrical construction services, Tuesday reported an increase in earnings as well as revenues for the first quarter. The company also raised the bottom end of its earnings guidance for 2014.

"We generated the strongest earnings per share for a first quarter in our history, thanks in part to the 2013 addition of RepconStrickland that contributed during the quarter," said Tony Guzzi, CEO of EMCOR.

For the first quarter, net earnings advanced to $41.26 million or $0.61 per share, from $30.17 million or $0.44 per share a year ago.

Excluding UK construction losses and restructuring expenses, earnings per share were $0.64.

On average, 7 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.52 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the 3-month period rose slightly to $1.599 billion from $1.568 billion a year earlier. Analysts expected revenues of $1.62 billion.

For 2014, the company increased the bottom end of its earnings guidance, now expecting $2.45 to $2.70 per share, compared with $2.40 to $2.70 per share projected earlier. Analysts expect earnings of $2.57 per share for the year.