Company: EME
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000105634-25-000029
Chunk: 41

Company: EMCOR Group, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 discrete tax items during the first quarter of 2025 and a slight decrease in the state and local effective tax rate due to changes in the mix of earnings.As of March 31, 2025 and December 31, 2024, we had no unrecognized income tax benefits.We file a consolidated federal income tax return including all of our U.S. subsidiaries with the Internal Revenue Service. We additionally file income tax returns with various state, local, and foreign tax agencies. Our income tax returns are subject to audit by various taxing authorities and are currently under examination for the years 2020 through 2023.

NOTE 10 - Common Stock        

As of March 31, 2025 and December 31, 2024, there were 45,330,671 and 45,810,125 shares of our common stock outstanding, respectively.During the three months ended March 31, 2025 and 2024, we issued 52,275 and 68,073 shares of common stock, respectively. These shares were issued upon the satisfaction of required conditions under our share-based compensation plans.We have paid quarterly dividends since October 25, 2011. We currently pay a regular quarterly dividend of $0.25 per share.In September 2011, our Board of Directors (the “Board”) authorized a share repurchase program allowing us to begin repurchasing shares of our outstanding common stock. Subsequently, the Board has from time to time increased the amount authorized for repurchases under such program. In February 2025, our Board increased such amount by $500 million. Since the inception of the repurchase program, through March 31, 2025, the Board has authorized us to repurchase up to $3.15 billion of our outstanding common stock. During the three months ended March 31, 2025, we repurchased approximately 0.5 million shares of our common stock for approximately $218.7 million, inclusive of the applicable excise tax. Since the inception of the repurchase program through March 31, 2025, we have repurchased approximately 27.6 million shares of our common stock for approximately $2.61 billion. As of March 31, 2025, there remained authorization for us to repurchase approximately $540.8 million of our shares. The repurchase program has no expiration date, does not obligate the Company to acquire any particular amount of common stock, and may be suspended, recommenced, or discontinued at any time