2020-08-03 07:33:45 EME Emcor
08/03/20 08/0307:33 08/03/2007:33 | Emcor reports Q2 EPS $1.44, consensus 89cReports Q2 revenue $2.01B, consensus $2.05B. Tony Guzzi, Chairman, President and CEO of EMCOR, commented, "We demonstrated excellent execution during these unprecedented times, and our second quarter performance reflects the rapid and decisive implementation of our contingency plans. Despite year-over-year revenue declines across each of our segments, we delivered non-GAAP operating income of $110.1 million and a strong non-GAAP operating margin of 5.5%, underscoring our ability to perform in almost any environment as well as our diligent cost control. Our efforts drove record operating cash flow generation of $276.7 million in the first six months of 2020, which represents an increase of over $300 million compared to the same period in 2019. Even as we and our customers navigate the uncertainty surrounding the COVID-19 pandemic and its impact on the economy, our remaining performance obligations continue to grow, up 8.6% year-over-year and 3.8% sequentially, demonstrating the resiliency of our business and the underlying demand for our services in the marketplace." Mr. Guzzi added, "Our U.S. Construction segments continue to anchor our performance, with operating income growth of 1.4% year-over-year and a robust operating margin of 8.0%, up 100 basis points year-over-year. This was primarily driven by our U.S. Mechanical Construction segment, which posted operating income growth of 24.1% year-over-year and an impressive operating margin of 8.5%, up 190 basis points year-over-year. Additionally, our U.S. Electrical Construction segment delivered a healthy operating margin of 7.2% despite the significant impact of mandated shutdowns on our revenues in the quarter. Led by our mobile mechanical and government services businesses, our U.S. Building Services segment reported an operating margin of 5.6%, up 30 basis points year-over-year. During the second quarter, we recorded a significant impairment charge primarily related to our U.S. Industrial Services segment, which is operating in a challenging environment as its customers grapple with the dual impacts of the COVID-19 pandemic and ongoing volatility in the oil and gas market. We will continue to leverage our leadership position and take advantage of available opportunities. However, we do not anticipate much improvement in this segment through the remainder of the year. Lastly, our U.K. Building Services segment generated an operating margin of 5.7%, up 80 basis points year-over-year, as it continues to execute well across its diversified customer base." |
|
---|
Hot Stocks
|
Rocket Lab successfully deploys satellites 500km apart to separate orbits »
21:32
04/23/24
04/23
21:32
04/23/2421:32
RKLB
Rocket Lab
Rocket Lab has… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Upgrade
|
Kojamo just upgraded at JPMorgan, here's why »
20:47
04/23/24
04/23
20:47
04/23/2420:47
KOJAF
Kojamo
JPMorgan upgraded Kojamo… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Initiation
|
Southern Copper initiated with bullish view at CICC »
20:43
04/23/24
04/23
20:43
04/23/2420:43
SCCO
Southern Copper
CICC initiated coverage… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Upgrade
|
AkzoNobel just upgraded at JPMorgan, here's why »
20:43
04/23/24
04/23
20:43
04/23/2420:43
AKZOY
AkzoNobel
JPMorgan upgraded… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Upgrade
|
Randstad just upgraded at Jefferies, here's why »
20:40
04/23/24
04/23
20:40
04/23/2420:40
RANJY
Randstad
Jefferies upgraded… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Upgrade
|
Airbnb just upgraded at Mizuho, here's why »
20:37
04/23/24
04/23
20:37
04/23/2420:37
ABNB
Airbnb
Mizuho analyst James Lee… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Earnings
|
Notable companies reporting before tomorrow's open »
20:25
04/23/24
04/23
20:25
04/23/2420:25
TMO
Thermo Fisher
AT&T
Boeing
Boston Scientific
General Dynamics
Humana
Fortive
Biogen
Notable companies… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Cathie Wood's ARK Investment buys 29K shares of Tesla today
20:03
04/23/24
04/23
20:03
04/23/2420:03
TSLA
Tesla
|
Hot Stocks
|
Cidara Therapeutics trading halted, news pending
19:50
04/23/24
04/23
19:50
04/23/2419:50
CDTX
Cidara Therapeutics
|
Hot Stocks
|
Visionary Holdings names new CEO »
19:49
04/23/24
04/23
19:49
04/23/2419:49
GV
Visionary Holdings
Visionary Holdings… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Earnings
|
Flushing Financial reports Q1 EPS 14c, consensus 14c »
19:13
04/23/24
04/23
19:13
04/23/2419:13
FFIC
Flushing Financial
In Q1: Net interest… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Mattel CEO: Our plan is to return to top line growth in 2025 »
18:46
04/23/24
04/23
18:46
04/23/2418:46
MAT
Mattel
In an interview on… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Loop Media receives non-compliance letter from NYSE American »
18:37
04/23/24
04/23
18:37
04/23/2418:37
LPTV
Loop Media
Loop Media announced that… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Nucor CEO: Q1 EPS miss was due to corporate eliminations, not operations »
18:35
04/23/24
04/23
18:35
04/23/2418:35
NUE
Nucor
In an interview on… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Tesla CEO says 'good chance we sign licensing deal this year' »
18:28
04/23/24
04/23
18:28
04/23/2418:28
TSLA
Tesla
Says it may still take… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Tesla CEO says we should be valued as AI robotics company, not auto company
18:16
04/23/24
04/23
18:16
04/23/2418:16
TSLA
Tesla
|
Hot Stocks
|
Tesla says Cybertruck ramp still faces challenges »
18:15
04/23/24
04/23
18:15
04/23/2418:15
TSLA
Tesla
VP of Engineering Lars… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Tesla CEO Musk says Tesla constitutes majority of my work time
18:14
04/23/24
04/23
18:14
04/23/2418:14
TSLA
Tesla
|
Hot Stocks
|
Tesla shares extend gains during earnings call, now up 12% at $161.50 afterhours
18:10
04/23/24
04/23
18:10
04/23/2418:10
TSLA
Tesla
|
Hot Stocks
|
Tesla CFO sees inventory build reverse, free cash flow turn positive in Q2 »
18:10
04/23/24
04/23
18:10
04/23/2418:10
TSLA
Tesla
CFO Vaibhav Taneja says:… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Tesla CEO says rate of FSD improvement 'rapid' »
18:04
04/23/24
04/23
18:04
04/23/2418:04
TSLA
Tesla
Elon Musk says:… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Earnings
|
Rush Enterprises reports Q1 EPS 88c vs. $1.07 last year »
18:03
04/23/24
04/23
18:03
04/23/2418:03
RUSHA
Rush Enterprises
Reports Q1 revenue… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Tesla CEO says more affordable models to be made on current production lines »
18:02
04/23/24
04/23
18:02
04/23/2418:02
TSLA
Tesla
CEO Musk says: "New… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Tesla CEO says in conversation with one major automaker about licensing FSD
18:01
04/23/24
04/23
18:01
04/23/2418:01
TSLA
Tesla
|
Hot Stocks
|
Tesla CEO says updated future of vehicle lineup to accelerate new model launch »
18:01
04/23/24
04/23
18:01
04/23/2418:01
TSLA
Tesla
CEO Elon Musk says:… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |