Company: EME
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000105634-25-000029
Chunk: 131

Company: EMCOR Group, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 131
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2,551,430 28 %United States mechanical construction and facilities services5,751,004 49 %5,463,096 54 %4,997,257 54 %United States building services1,289,585 11 %1,246,642 12 %1,351,585 15 %United States industrial services224,832 2 %138,599 1 %111,935 1 %Total United States operations11,549,527 98 %9,916,733 98 %9,012,207 98 %United Kingdom building services200,526 2 %185,466 2 %163,145 2 %Total operations$11,750,053 100 %$10,102,199 100 %$9,175,352 100 %

Our remaining performance obligations at March 31, 2025 were approximately $11.75 billion compared to approximately $10.10 billion at December 31, 2024 and approximately $9.18 billion at March 31, 2024. When compared to December 31, 2024, remaining performance obligations increased by approximately $1.65 billion. Such increase was driven by the acquisition of Miller Electric, which added approximately $1.0 billion of remaining performance obligations as of March 31, 2025, as well as new contract awards across all of our reportable segments. From a market sector perspective, the most significant growth was experienced within: (a) network and communications, largely as a result of several data center construction contracts, (b) healthcare, (c) manufacturing and industrial, including certain food processing construction projects, (d) water and wastewater, and (e) hospitality and entertainment. Partially offsetting these increases was a decrease in remaining performance obligations within the high-tech manufacturing market sector, primarily as a result of progress made on certain semiconductor construction projects.

See Note 3 - Revenue from Contracts with Customers of the notes to consolidated financial statements for further disclosure regarding our remaining performance obligations.

Liquidity and Capital Resources    

The following section discusses our principal liquidity and capital resources, as well as our primary liquidity requirements and sources and uses of cash. 

We are focused on the efficient conversion of operating income into cash to provide for the Company’s material cash requirements, including working capital needs, investment in our growth strategies through business acquisitions and capital expenditures, satisfaction of contractual commitments,