EME

Research · Sep 3, 2026

[EME] EMCOR Group Thesis 2026: Record Revenue Year as Electrical Construction Demand Compounds

EMCOR Group FY25 (Dec 31, 2025) at $16.99B revenue (+17%). NI $1.27B; EPS $28.19 (+31%). Adj op margin 9.4% record; adj diluted EPS $25.87 record. Q4 revenue $4.5B (+19.7%); adj EPS $7.19 (+13.8%). Divested UK + acquired Miller Electric. FY26 guide: revenue $17.75B-$18.5B; diluted EPS $27.25-$29.25; op margin 9-9.4%.