Company: EME
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000105634-25-000029
Chunk: 98

Company: EMCOR Group, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 thousands, except for percentages and per share data): 

 For the three months endedMarch 31, 20252024Revenues$3,867,372 $3,432,276 Revenues increase from prior year12.7 %18.7 %Gross profit$722,718 $589,309 Gross profit as a percentage of revenues18.7 %17.2 %Operating income$318,756 $259,953 Operating income as a percentage of revenues8.2 %7.6 %Net income$240,677 $197,149 Diluted earnings per common share$5.26 $4.17 

Revenues of $3.87 billion for the quarter ended March 31, 2025 set a new quarterly record for the Company and represent an increase of 12.7% from revenues of $3.43 billion for the quarter ended March 31, 2024. Demand for our services continues to be strong across most of the market sectors we serve and, as described in further detail below, we experienced revenue growth within all of our reportable segments, except for our United States building services segment. Revenues for the first quarter of 2025 included incremental acquisition contribution of approximately $250.9 million.

Operating income for the quarter ended March 31, 2025 was $318.8 million, or 8.2% of revenues, establishing new records for the Company with respect to a first quarter. This compares to operating income of $260.0 million, or 7.6% of revenues, for the quarter ended March 31, 2024. The $58.8 million increase in operating income, and corresponding 60 basis point expansion in operating margin, were predominantly a result of improved operating performance within our United States construction segments, as described in further detail below. Operating income for the quarter ended March 31, 2025 included incremental acquisition contribution of $14.2 million, net of amortization expense attributable to identifiable intangible assets of $10.5 million.

Net income of $240.7 million, or $5.26 per diluted share, for the quarter ended March 31, 2025 compares favorably to net income of $197.1 million, or $4.17 per diluted share, for the quarter ended March 31, 2024. While the majority of the increase in our net income and diluted