Slide 1: Third Quarter 2024 Financial Results
THIRD QUARTER 2024 FINANCIAL RESULTS October 31, 2024
Slide 2: Forward-Looking Statements and Non-GAAP Financial Disclosures
THIRD 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
THIRD 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
THIRD QUARTER 2024 FINANCIAL RESULTS EXECUTIVE SUMMARY ($ Millions, except per share information) (Unaudited) 3Q24 3Q23 Change ($) Change (%) Revenues $3,697 $3,208 $489 15.3% Operating Income1 $364 $235 $129 54.7% Operating Margin1 9.8% 7.3% Diluted EPS2 $5.80 $3.57 $2.23 62.5% » Continued to perfo
Slide 5: Third Quarter – Revenues
THIRD QUARTER 2024 FINANCIAL RESULTS THIRD QUARTER – REVENUES » Consolidated quarterly revenues of $3.70 billion Variance from Third Quarter 2023 ($ Millions) (Unaudited) 3Q24 $ % U.S. Electrical Construction & Facilities Services $ 845.0 $ 147.6 21.2% U.S. Mechanical Construction & Facilities Servi
Slide 6: Third Quarter – Operating Income
THIRD QUARTER 2024 FINANCIAL RESULTS THIRD QUARTER – OPERATING INCOME » $363.5 million or 9.8% of revenues; +$129 million Y/Y Variance from Third Quarter 2023 ($ Millions) (Unaudited) 3Q24 $ % U.S. Electrical Construction & Facilities Services $ 119.1 $ 56.0 88.7% U.S. Mechanical Construction & Faci
Slide 7: Key Financial Data – Income Statement
THIRD QUARTER 2024 FINANCIAL RESULTS KEY FINANCIAL DATA – INCOME STATEMENT ($ Thousands, except per share information) (Unaudited) For the Quarter Ended September 30, Variance 2024 2023 $ % Revenues $ 3,696,924 $ 3,207,598 $ 489,326 15.3% Gross Profit 734,726 545,472 189,254 34.7% 19.9% 17.0% Sellin
Slide 8: Key Financial Data – Income Statement (Nine Months)
THIRD QUARTER 2024 FINANCIAL RESULTS KEY FINANCIAL DATA – INCOME STATEMENT ($ Thousands, except per share information) (Unaudited) For the Nine Months Ended September 30, Variance 2024 2023 $ % Revenues $ 10,796,097 $ 9,143,652 $ 1,652,445 18.1% Gross Profit 2,008,036 1,471,594 536,442 36.5% 18.6% 1
Slide 9: Key Financial Data – Balance Sheet
THIRD QUARTER 2024 FINANCIAL RESULTS KEY FINANCIAL DATA – BALANCE SHEET ($ Thousands) (Unaudited) 09/30/24 12/31/23 Cash $ 1,035,534 $ 789,750 Working Capital $ 1,081,188 $ 928,616 Goodwill $ 1,002,218 $ 956,549 Identifiable Intangible Assets, Net $ 648,123 $ 586,032 Total Debt (excludes operating l
Slide 10: Well-Positioned to Benefit from Multiple Trends Driving Profitable Organic Growth
THIRD QUARTER 2024 FINANCIAL RESULTS WELL-POSITIONED TO BENEFIT FROM MULTIPLE TRENDS DRIVING PROFITABLE ORGANIC GROWTH Data Centers Re-Shoring Electrification Energy Efficiency Legislative and and and and Tailwinds Connectivity Nearshoring EV Value Chain Sustainability ✓ Continued ✓ Critical supply
Slide 11: Remaining Performance Obligations
THIRD QUARTER 2024 FINANCIAL RESULTS REMAINING PERFORMANCE OBLIGATIONS » Diverse RPOs of $9.8 billion; +$1.15 billion Y/Y By Segment ($ Millions) (Unaudited) By Market Sector ($ Millions) (Unaudited) $11,000 $11,000 $9,789 $9,789 $10,000 $10,000 $8,847 $8,847 $9,000 $8,635 $9,000 $8,635 $8,000 $8,00
Slide 12: 2024 Guidance - Revised
THIRD QUARTER 2024 FINANCIAL RESULTS 2024 GUIDANCE - REVISED Revised Guidance Prior Guidance Revenues At least $14.5 Billion $14.5 Billion - $15.0 Billion Diluted EPS1 $20.50 - $21.00 $19.00 - $20.00 » Record RPOs of $9.8 billion, along with strong and diverse pipeline, provide solid near-term line
Slide 13: Capital Allocation Trends
THIRD 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% 5.0% 49.3% 51.7% 49.9% 70% 61.7% 59.3% 10.3% 60% 7.5% 79.0% 9.7% 50% 13.6% 5.6% 7.7% 7.4% 40% 81.9% 23.4% 11.4% 9.6% 4.6% 5.3% 21.0% 8.4% 30% 60.3% 12.4%
Slide 14: Thank You
THIRD QUARTER 2024 FINANCIAL RESULTS Thank You 14