Specialty construction contractor company EMCOR (NYSE:EME) will be reporting results this Thursday before the bell. Here’s what investors should know.
EMCOR beat analysts’ revenue expectations by 2.2% last quarter, reporting revenues of $3.87 billion, up 12.7% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
Is EMCOR a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting EMCOR’s revenue to grow 11.9% year on year to $4.10 billion, slowing from the 20.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $5.72 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. EMCOR has missed Wall Street’s revenue estimates twice over the last two years.
Looking at EMCOR’s peers in the construction and engineering segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Comfort Systems delivered year-on-year revenue growth of 20.1%, beating analysts’ expectations by 10.6%, and Orion reported revenues up 6.8%, topping estimates by 3.5%. Comfort Systems traded up 22.3% following the results.
Read our full analysis of Comfort Systems’s results here and Orion’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 5.5% on average over the last month. EMCOR is up 19.1% during the same time and is heading into earnings with an average analyst price target of $549.57 (compared to the current share price of $637).
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