Slide 1: First Quarter 2024 Financial Results
FIRST QUARTER 2024 FINANCIAL RESULTS APRIL 25, 2024
Slide 2: Forward-Looking Statements and Non-GAAP Financial Disclosures
FIRST QUARTER 2024 FINANCIAL RESULTS FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL DISCLOSURES Forward-Looking Statements This presentation and related press release contain forward-looking statements. Such statements speak only as of the date on the cover of this slide deck, and EMCOR assumes n
Slide 3: EMCOR Participants
FIRST QUARTER 2024 FINANCIAL RESULTS EMCOR PARTICIPANTS Tony Guzzi Chairman, President & Chief Executive Officer Jason Nalbandian SVP & Chief Financial Officer Maxine Mauricio EVP, Chief Administrative Officer & General Counsel Andy Backman VP, Investor Relations 3
Slide 4: Executive Summary
FIRST QUARTER 2024 FINANCIAL RESULTS EXECUTIVE SUMMARY ($ Millions, except per share information) (Unaudited) 1Q24 1Q23 Change ($) Change (%) Revenues $3,432 $2,890 $542 18.7% Operating Income $260 $155 $105 67.8% Operating Margin 7.6% 5.4% Diluted EPS $4.17 $2.32 $1.85 79.7% » Exceptional start to
Slide 5: First Quarter – Revenues
FIRST QUARTER 2024 FINANCIAL RESULTS FIRST QUARTER – REVENUES » Consolidated quarterly revenues of $3.43 billion Variance from First Quarter 2023 ($ Millions) (Unaudited) 1Q24 $ % U.S. Electrical Construction & Facilities Services $ 764.7 $ 120.0 18.6% U.S. Mechanical Construction & Facilities Servi
Slide 6: First Quarter – Operating Income
FIRST QUARTER 2024 FINANCIAL RESULTS FIRST QUARTER – OPERATING INCOME » $260.0 million or 7.6% of revenues; +$105.0 million Y/Y Variance from First Quarter 2023 ($ Millions) (Unaudited) 1Q24 $ % U.S. Electrical Construction & Facilities Services $ 91.6 $ 51.1 126.1% U.S. Mechanical Construction & Fa
Slide 7: Key Financial Data – Income Statement
FIRST QUARTER 2024 FINANCIAL RESULTS KEY FINANCIAL DATA – INCOME STATEMENT ($ Thousands, except per share information) (Unaudited) For the Quarter Ended March 31, Variance 2024 2023 $ % Revenues $ 3,432,276 $ 2,890,432 $ 541,844 18.7% Gross Profit 589,309 436,062 153,247 35.1% 17.2% 15.1% Selling, G
Slide 8: Key Financial Data – Balance Sheet
FIRST QUARTER 2024 FINANCIAL RESULTS KEY FINANCIAL DATA – BALANCE SHEET ($ Thousands) (Unaudited) 03/31/24 12/31/23 Cash $ 840,985 $ 789,750 Working Capital $ 1,076,644 $ 928,616 Goodwill $ 956,549 $ 956,549 Identifiable Intangible Assets, Net $ 569,781 $ 586,032 Total Debt (excludes operating lease
Slide 9: Driving Profitable Organic Growth
FIRST QUARTER 2024 FINANCIAL RESULTS DRIVING PROFITABLE ORGANIC GROWTH Energy Efficiency Data Centers / Connectivity Healthcare (Sustainability) Network & Communications RPOs Mechanical Services RPOs Healthcare RPOs +9% sequentially; +51% Y/Y +9% sequentially; +8% Y/Y +5% sequentially; +2% Y/Y » Con
Slide 10: Remaining Performance Obligations
FIRST QUARTER 2024 FINANCIAL RESULTS REMAINING PERFORMANCE OBLIGATIONS » Diverse RPOs of $9.18 billion By Segment ($ Millions) (Unaudited) By Market Sector ($ Millions) (Unaudited) $10,000 $10,000 $10,000 $10,000 $9,175 $9,175 $8,847 $8,847 $9,000 $9,000 $9,000 $9,000 $8,000 $7,873 $8,000 $7,873 $8,
Slide 11: 2024 Guidance - Revised
FIRST QUARTER 2024 FINANCIAL RESULTS 2024 GUIDANCE - REVISED Revised Guidance Prior Guidance Revenues $14.0 Billion - $14.5 Billion $13.5 Billion - $14.0 Billion Diluted EPS1 $15.50 - $16.50 $14.00 - $15.00 » RPOs of $9.18 billion continue to provide solid line of sight into 2024 » Continue to win a
Slide 12: Capital Allocation Trends
FIRST QUARTER 2024 FINANCIAL RESULTS CAPITAL ALLOCATION TRENDS EMCOR Capital Allocation by Year (%) 100% 4.9% 90% 24.4% 13.2% 80% 36.7% 38.1% ~55% 49.3% 51.7% 47.8% 5.0% 70% 61.7% 10.3% 60% 7.5% 79.0% 9.7% 50% 13.6% 5.8% 7.7% 7.4% 40% 81.9% 23.4% 12.1% 5.3% 9.6% 21.0% 30% 60.3% 12.4% ~45% 20% 42.2%
Slide 13: Thank You
FIRST QUARTER 2024 FINANCIAL RESULTS Thank You 13