Company: EME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000105634-25-000046
Chunk: 93

Company: EMCOR Group, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 the following amounts as of June 30, 2025 and December 31, 2024 (in thousands):June 30,2025December 31, 2024Contract assets, current$348,048 $284,791 Contract assets, non-current— — Contract liabilities, current(2,133,872)(2,047,540)Contract liabilities, non-current(3,202)(1,526)Net contract liabilities$(1,789,026)$(1,764,275)Contract assets and contract liabilities increased by approximately $31.2 million and $101.0 million, respectively, as a result of acquisitions made by us in 2025. Excluding the impact of acquisitions, net contract liabilities decreased by approximately $45.1 million during the six months ended June 30, 2025, as: (a) we recognized revenue on a number of construction projects for which we were previously billed ahead and (b) we are currently underbilled on certain contracts where we anticipate invoicing as contractual milestones are achieved. There was no significant impairment of contract assets recognized during the periods presented.

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Table of ContentsEMCOR Group, Inc. and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)

NOTE 3 - Revenue from Contracts with Customers (Continued)Transaction Price Allocated to Remaining Unsatisfied Performance Obligations     The following table presents the transaction price allocated to remaining unsatisfied performance obligations (“remaining performance obligations”) for each of our reportable segments and their respective percentages of total remaining performance obligations as of June 30, 2025 (in thousands, except for percentages):June 30,2025% of TotalRemaining performance obligations:United States electrical construction and facilities services$4,198,244 35 %United States mechanical construction and facilities services5,975,201 50 %United States building services1,313,603 11 %United States industrial services221,102 2 %Total United States operations11,708,150 98 %United Kingdom building services206,238 2 %Total operations$11,914,388 100 %Our remaining performance obligations at June 30, 2025 were approximately $11.91 billion. Remaining performance obligations increase with awards of new contracts and decrease as we perform work and recognize revenue on existing contracts. We include a project within our remaining performance obligations at such time the project is awarded and agreement on contract terms