Company: EME
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000105634-25-000029
Chunk: 18

Company: EMCOR Group, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
4.

See Notes to Consolidated Financial Statements.

3

Table of Contents

EMCOR Group, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)(Unaudited) 

Three months endedMarch 31,20252024Cash flows - operating activities:Net income$240,677 $197,149 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization15,582 13,337 Amortization of identifiable intangible assets26,363 16,251 Provision for credit losses4,718 9,898 Non-cash share-based compensation expense9,270 6,527 Other reconciling items(1,517)(2,829)Changes in operating assets and liabilities, excluding the effect of businesses acquired(186,622)(108,069)Net cash provided by operating activities108,471 132,264 Cash flows - investing activities:Payments for acquisitions of businesses, net of cash acquired(850,644)(100)Proceeds from sale or disposal of property, plant, and equipment1,334 939 Purchases of property, plant, and equipment(26,131)(20,278)Net cash used in investing activities(875,441)(19,439)Cash flows - financing activities:Proceeds from revolving credit facility250,000 — Repayments of finance lease liabilities(775)(773)Dividends paid to stockholders(11,451)(8,470)Repurchases of common stock(224,832)(39,000)Taxes paid related to net share settlements of equity awards(13,351)(11,648)Issuances of common stock under employee stock purchase plan— 943 Payments for contingent consideration arrangements(420)— Net cash used in financing activities(829)(58,948)Effect of exchange rate changes on cash, cash equivalents, and restricted cash4,869 (1,140)(Decrease) increase in cash, cash equivalents, and restricted cash(762,930)52,737 Cash, cash equivalents, and restricted cash at beginning of year (1)1,340,395 789,750 Cash, cash equivalents, and restricted cash at end of period (2)$577,465 $842,487 

_________

(1)Includes $0.8 million of restricted cash classified as “Prepaid expenses and other” in the