EMCOR Group, Inc. · NYSE:EME

EMCOR — Q4 2012 Earnings Presentation

17 slides from EMCOR's earnings presentation, Feb 26, 2013

  1. Slide 1: Quarter Four 2012

    QUARTER FOUR 2012 Quarter Four 2012 February 26, 2013

  2. Slide 2: EMCOR Participants

    QUARTER FOUR 2012 EMCOR Participants  Tony Guzzi President & Chief Executive Officer  Mark Pompa EVP & Chief Financial Officer  Mava Heffler VP, Marketing & Communications  Sheldon Cammaker EVP & General Counsel  Kevin Matz EVP, Shared Services 2

  3. Slide 3: 2012 Executive Summary

    QUARTER FOUR 2012 2012 Executive Summary  Strong overall performance in choppy environment – Overall end markets continue to improve slowly – Full year diluted EPS from continuing operations $2.16 – $6.35 billion of revenues includes organic revenue growth of 7.6%  Continue cost control with SG&A

  4. Slide 4: 2012 Executive Summary

    QUARTER FOUR 2012 2012 Executive Summary  Diverse backlog of $3.37 billion, 1.4% above 2011 level – Industrial backlog up 63% year-over-year  Balance sheet continues to be strong and liquid, including $605 million of cash  Continue to look for strategic investments – Acquired Southeast-based Sout

  5. Slide 5: 2012 – Qtr. 4 Financial Results Highlights

    QUARTER FOUR 2012 2012 – Qtr. 4 Financial Results Highlights  Revenues increased 6.2% year-over-year to $1.61 billion – Organic growth 4.3% – Revenue growth in all business segments, except U.K. construction and facilities services:  U.S. electrical construction & facilities services 5.8%  U.S. m

  6. Slide 6: 2012 – Qtr. 4 Financial Results Highlights

    QUARTER FOUR 2012 2012 – Qtr. 4 Financial Results Highlights  Operating income $78.9 million or 4.89% of revenues vs. $62.4 million or 4.11% of revenues in Qtr. 4 2011 Quarter Ended December 31, 2012 2011 U.S. electrical construction & facilities services 10.6% 9.2% U.S. mechanical construction & f

  7. Slide 7: 2012 – Qtr. 4 Financial Results Highlights

    QUARTER FOUR 2012 2012 – Qtr. 4 Financial Results Highlights  Qtr. 4 income tax rate – 39.8%  Diluted EPS from continuing operations of $0.68 vs. $0.53 – Adjusted for non-cash impairment charge; Qtr. 4 2011 diluted EPS from continuing operations would be $0.57  Qtr. 4 cash flow provided by operat

  8. Slide 8: Key Financial Data – Income Statement

    QUARTER FOUR 2012 Key Financial Data – Income Statement ($ Thousands, except per share information) (Unaudited) For the Three Months Ended December 31, Variance 2012 2011 $ % Revenues $ 1,611,881 $ 1,517,962 $ 93,919 6.2% Gross Profit 228,449 214,317 14,132 6.6% Selling, General and Administrative E

  9. Slide 9: 2012 Financial Results Highlights

    QUARTER FOUR 2012 2012 Financial Results Highlights  Revenues up $733.2 million or 13.1% to $6.35 billion – Growth in all segments – Organic growth 7.6% Change from 2011 ($ Millions) (Unaudited) 2012 $ % U.S. electrical construction & facilities services $ 1,211.7 $ 56.6 4.9% U.S. mechanical constr

  10. Slide 10: 2012 Financial Results Highlights

    QUARTER FOUR 2012 2012 Financial Results Highlights  SG&A expenses increased to $556.2 million or 8.8% vs. $518.1 million or 9.2% of revenues for 2011  Operating income $250.0 million in 2012 or 3.94% of revenues vs. $210.8 million or 3.76% of revenues in 2011 Year Ended December 31, 2012 2011 U.S

  11. Slide 11: 2012 Financial Results Highlights

    QUARTER FOUR 2012 2012 Financial Results Highlights  Full year diluted EPS from continuing operations of $2.16 vs. $1.78 – Excluding non-cash impairment charges, as well as USM transaction costs in 2011, adjusted diluted EPS from continuing operations for 2011 would be $1.87  2012 income tax rate

  12. Slide 12: Key Financial Data – Income Statement

    QUARTER FOUR 2012 Key Financial Data – Income Statement ($ Thousands, except per share information) (Unaudited) For the Twelve Months Ended December 31, Variance 2012 2011 $ % Revenues $ 6,346,679 $ 5,613,459 $ 733,220 13.1% Gross Profit 806,354 733,949 72,405 9.9% Selling, General and Administrativ

  13. Slide 13: Key Financial Data – Balance Sheet

    QUARTER FOUR 2012 Key Financial Data – Balance Sheet ($ Thousands) (Unaudited) 12/31/12 12/31/11 Cash $ 605,303 $ 511,322 Working Capital $ 749,934 $ 605,740 Goodwill $ 566,588 $ 566,805 Identifiable Intangible Assets, Net $ 343,748 $ 370,373 Total Debt $ 155,899 $ 154,857 Equity $ 1,357,179 $ 1,245

  14. Slide 14: Backlog

    QUARTER FOUR 2012 Backlog ($ Millions) $5,000 $4,240 $3,742 $4,000 $3,340 $3,328 $3,374 $3,106 $2,974 $2,692 $3,000 $2,000 $1,000 $0 2005 2006 2007 2008 2009 2010 2011 2012 Commercial Hospitality / Gaming Industrial Healthcare Commercial Hospitality Industrial Healthcare Institutional Institutional

  15. Slide 15: 2013 Outlook

    QUARTER FOUR 2012 2013 Outlook  Private non-residential market has incremental improvement, but still not broad-based  Expect continued excellence in large project execution  Small and midsize project demand steady and resulting performance improving  Industrial markets solid  Cost control yiel

  16. Slide 16: 2013 Guidance

    QUARTER FOUR 2012 2013 Guidance Revenues ~ $6.5 Billion Diluted EPS $2.05 - $2.35 16

  17. Slide 17: BUILD. POWER. SERVICE. PROTECT.

    BUILD. POWER. SERVICE. PROTECT.

EMCOR Group — Q4 2012 Earnings Presentation on 6ix