Company: EME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000105634-25-000078
Chunk: 129

Company: EMCOR Group, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 three months ended September 30, 2025 benefited from an increase in gross profit margin given a more favorable project mix largely within the network and communications and  manufacturing and industrial market sectors. Operating income of this segment for the three and nine months ended September 30, 2025 were positively impacted by $0.3 million and $0.7 million, respectively, as a result of favorable exchange rate movements for the British pound versus the United States dollar.

Our corporate administration expenses for the three months ended September 30, 2025 were $42.0 million, compared to $34.8 million for the three months ended September 30, 2024. For the nine months ended September 30, 2025, our corporate administration expenses were $133.5 million, compared to $108.5 million for the nine months ended September 30, 2024. Corporate expenses for the first nine months of 2025 included $9.4 million of transaction related costs incurred in connection with the acquisition of Miller Electric. Excluding these items, the increase in corporate expenses for both 2025 periods was primarily a result of greater: (a) computer hardware and software costs, due to various information technology and cybersecurity initiatives currently in process, and (b) employment expenses, partially due to additional headcount to support our growth as well as annual cost of living adjustments. 

Other items

For the three months ended September 30, 2025, net interest income was $1.8 million, compared to net interest income of $8.3 million for the three months ended September 30, 2024. For the nine months ended September 30, 2025, net interest income was $4.0 million, compared to net interest income of $22.0 million for the nine months ended September 30, 2024. These year-over-year fluctuations were a result of a reduction in interest income primarily due to a lower average daily invested cash balance, coupled with an increase in interest expense, given the utilization of our revolving credit facility during the first nine months of 2025.

For the three and nine months ended September 30, 2025, our income tax provision was $112.2 million and $305.6 million, respectively, compared to an income tax provision of $101.8 million and $263.9 million for the three and nine months ended September 30, 2024, respectively. Our effective income tax rate for the three and nine months ended September