Company: EME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000105634-25-000078
Chunk: 70

Company: EMCOR Group, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 the three months ended September 30, 2024. Operating income for the nine months ended September 30, 2025 was $21.0 million, or 5.6% of revenues, compared to $16.7 million, or 5.2% of revenues, for the nine months ended September 30, 2024. For both 2025 periods, the increase in this segment’s operating income and operating margin was due to the revenue growth it experienced, which resulted in: (a) greater gross profit and (b) a reduction in SG&A margin as our segment management team leveraged its overhead cost structure. In addition, operating income and operating margin of this segment for the three months ended September 30, 2025 benefited from an increase in gross profit margin given a more favorable project mix largely within the network and communications and  manufacturing and industrial market sectors. Operating income of this segment for the three and nine months ended September 30, 2025 were positively impacted by $0.3 million and $0.7 million, respectively, as a result of favorable exchange rate movements for the British pound versus the United States dollar.

Our corporate administration expenses for the three months ended September 30, 2025 were $42.0 million, compared to $34.8 million for the three months ended September 30, 2024. For the nine months ended September 30, 2025, our corporate administration expenses were $133.5 million, compared to $108.5 million for the nine months ended September 30, 2024. Corporate expenses for the first nine months of 2025 included $9.4 million of transaction related costs incurred in connection with the acquisition of Miller Electric. Excluding these items, the increase in corporate expenses for both 2025 periods was primarily a result of greater: (a) computer hardware and software costs, due to various information technology and cybersecurity initiatives currently in process, and (b) employment expenses, partially due to additional headcount to support our growth as well as annual cost of living adjustments. 

Other items

For the three months ended September 30, 2025, net interest income was $1.8 million, compared to net interest income of $8.3 million for the three months ended September 30, 2024. For the nine months ended September 30, 2025, net interest income was $4.0 million, compared to net interest income of $22.0 million for the