EMCOR Q3 Profit Down

(RTTNews) - EMCOR Group, Inc.(EME), reported a decrease in third-quarter profit, in spite of a slight increase in revenues.

Net income attributable to EMCOR was $26.7 million or $0.39 per share, compared with $39.5 million or $0.59 per share last year.

Excluding several one-time charges, adjusted net income was $32.6 million or $0.48 per share.

On average, five analysts polled by Thomson Reuters expected the company to report earnings per share of $0.60 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues increased to $1.63 billion, from prior year's $1.61 billion. Analysts expected the company to generate revenues of $1.71 billion for the quarter.

Based on the current size and mix of its backlog and assuming the continuation of current market conditions, the company now expects to generate revenues in 2013 of about $6.45 billion, non-GAAP earnings per share in the range of $2.10 to $2.25, and GAAP earnings of $1.75 to $1.90 per share. Analysts expect the company to report earnings of $2.28 on revenues of $6.59 billion.