Emcor (EME) FY2024 10-K Annual Report
Emcor (EME) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 26, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Emcor FY2024 10-K Analysis
Business Overview
- • Core business model: Facilities services and construction solutions across multiple market sectors
- • Emphasis on U.S. construction segments with improved operating performance driving margin up to 9.2% from 7.0% in prior year
- • Revenue up 15.8% to $14.57 billion, setting new annual record; includes $251.5 million from acquisitions
- • Operating income increased by $469.1 million to $1.34 billion; net income rose to $1.01 billion with EPS $21.52 vs $13.31 prior year
- • Noteworthy: operating margin expansion of 220 basis points driven mainly by organic growth and acquisition contributions
Management Discussion & Analysis
- • Operating cash flow $1,407.9M in 2024 vs $899.7M in 2023, up $508.2M due to improved operating performance and customer cash receipt timing
- • Investing cash outflow increased by $138.0M in 2024 vs 2023, mainly from higher acquisition payments
- • Financing cash outflow $555.4M in 2024 vs $412.1M in 2023, $143.3M increase driven by higher common stock repurchases
- • Share repurchases increased in 2024; dividend amounts and capital expenditures not specified
- • No explicit revenue, profitability figures, or forward-looking guidance provided in this section
Risk Factors
- • Macroeconomic risk from elevated interest rates impacting variable-rate debt and increasing interest expense, following 2022-2023 rate hikes by the Federal Reserve
- • Economic downturn risk with client project delays or cancellations in private sector work during slow growth or recessions, reducing revenue and profitability
- • Supply chain risk due to potential prolonged inflation and supply challenges affecting operational efficiency and project delivery timelines
- • Competitive risk from market disruptions linked to fluctuating commodity and energy prices that impact industries served and client spending patterns
- • Financial risk from dependence on credit facility borrowings subject to variable interest rates, affecting liquidity and capital funding capacity
Emcor FY2024 Key Financial MetricsXBRL
Revenue
$14.6B
▲ +15.8% YoY
Net Income
$1.0B
▲ +59.1% YoY
Gross Margin
19.0%
▲ +238bp YoY
Operating Margin
9.2%
▲ +227bp YoY
Net Margin
6.9%
▲ +188bp YoY
ROE
34.3%
▲ +865bp YoY
Total Assets
$7.7B
▲ +16.7% YoY
EPS (Diluted)
$21.52
▲ +61.7% YoY
Operating Cash Flow
$1.4B
▲ +56.5% YoY
Source: XBRL data from Emcor FY2024 10-K filing on SEC EDGAR. All figures in USD.
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