Company: EME
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000105634-25-000015
Chunk: 63

Company: EMCOR Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 63
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 within our United States electrical construction and facilities services segment. 

Discussion and Analysis of Results of Operations 

Revenues 

The following table presents our revenues for each of our operating segments and the approximate percentages that each segment’s revenues were of total revenues for the years ended December 31, 2024 and 2023 (in thousands, except for percentages): 

 2024% ofTotal 2023% ofTotal Revenues from unrelated entities:    United States electrical construction and facilities services$3,342,927 23 %$2,783,723 22 %United States mechanical construction and facilities services6,405,657 44 %5,074,803 41 %United States building services3,114,817 21 %3,120,134 25 %United States industrial services1,277,190 9 %1,167,790 9 %Total United States operations14,140,591 97 %12,146,450 97 %United Kingdom building services425,525 3 %436,423 3 %Consolidated revenues$14,566,116 100 %$12,582,873 100 %     

24

As a result of strong demand for our services across most of the market sectors we serve, revenues for the year ended December 31, 2024 increased to $14.57 billion compared to revenues of $12.58 billion for the year ended December 31, 2023. As described in more detail below, we experienced increases in revenues from the majority of our reportable segments. Additionally, revenues for 2024 included incremental acquisition contribution of approximately $251.5 million.

Revenues of our United States electrical construction and facilities services segment were $3,342.9 million for the year ended December 31, 2024, a $559.2 million increase compared to revenues of $2,783.7 million for the year ended December 31, 2023. This segment’s results for 2024 included $2.7 million of incremental acquisition revenues. Excluding the impact of acquisitions, the increase in this segment’s revenues was primarily a result of growth within the network and communications market sector, predominantly due to data center construction projects. Increased demand for cloud computing and data storage, driven in part by the emergence of artificial intelligence, has resulted in a greater number of project opportunities for us in several of the geographies in which we