Company: EME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000105634-25-000078
Chunk: 132

Company: EMCOR Group, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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 to by our customers.

As of September 30, 2025, we had cash and cash equivalents, excluding restricted cash, of $655.1 million, which are maintained in depository accounts and highly liquid investments with original maturity dates of three months or less. Both our short-term and long-term liquidity requirements are expected to be met through our cash and cash equivalent balances, cash generated from our operations, and, as necessary, the borrowing capacity under our revolving credit facility. Our credit agreement provides for a $1.30 billion revolving credit facility, for which there was $1.23 billion of available capacity as of September 30, 2025. 

Refer to Note 7 - Debt of the notes to consolidated financial statements for further information regarding our credit agreement. Based upon our current credit rating and financial position, we can also reasonably expect to be able to secure long-term debt financing if required to achieve our strategic objectives; however, no assurances can be made that such debt financing will be available on favorable terms. We believe that we have sufficient financial resources available to meet our short-term and foreseeable long-term liquidity requirements.

Cash Flows

The following table presents a summary of our operating, investing, and financing cash flows (in thousands):     

 For the nine months endedSeptember 30, 20252024Net cash provided by operating activities$777,659 $938,402 Net cash used in investing activities$(977,719)$(243,687)Net cash used in financing activities$(495,027)$(455,032)Effect of exchange rate changes on cash, cash equivalents, and restricted cash$11,009 $7,377 (Decrease) increase in cash, cash equivalents, and restricted cash$(684,078)$247,060 

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During the nine months ended September 30, 2025, our cash balance, including cash equivalents and restricted cash, decreased by approximately $684.1 million from $1,340.4 million at December 31, 2024 to $656.3 million at September 30, 2025. Changes in our cash position from December 31, 2024 to September 30, 2025 are described in further detail below. 

Operating Activities – Operating cash flows generally represent our net income as adjusted for certain non-cash items and changes in assets and liabilities. Net cash provided by operating activities for the nine months ended September 30, 2025 was approximately $777.7 million