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Published on 20 Mar 2023 on Zacks via Yahoo Finance

EMCOR (EME) Banks on Robust Acquisitions Amid High Inflation


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EMCOR Group, Inc. EME is benefiting from accretive acquisitions and a robust construction business. The U.S. Electrical and Mechanical Construction and Facilities Services segments are witnessing strong project growth over the years due to the company’s disciplined project execution strategies and acquisition policies.The above-mentioned tailwinds helped EMCOR report the impressive fourth-quarter 2022 results. In the quarter, the company’s earnings and revenues surpassed the Zacks Consensus Estimate by 15.4% and 2.8%, respectively, and increased year over year. The quarterly results reflect strong demand across geographies, solid remaining performance obligations and bolt-on acquisitions.Shares of EME have gained 35% over the past six months compared with the Zacks Building Products - Heavy Construction industry’s growth of 15.7%. Earnings estimates for 2023 have shown improvement in the past 30 days, portraying the possible prospects for the company.

 

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