Short answer
Emcor (EME) filed its fiscal 2024 10-K annual report with the SEC on Feb 26, 2025. It reported revenue of $14.6B (+15.8% year over year) and net income of $1.0B.
- Top risk flagged: Macroeconomic risk from elevated interest rates impacting variable-rate debt and increasing interest expense, following 2022-2023 rate hikes by the Federal Reserve
FY2024 key financial metrics · XBRL
- Revenue
- $14.6B
- +15.8% YoY
- Net income
- $1.0B
- +59.1% YoY
- Operating margin
- 9.2%
- +2.3 pp YoY
- Gross margin
- 19.0%
- +2.4 pp YoY
- EPS (diluted)
- $21.52
- +61.7% YoY
- ROE
- 34.3%
- +8.7 pp YoY
- Operating cash flow
- $1.4B
- +56.5% YoY
Source: XBRL data from the Emcor (EME) FY2024 10-K on SEC EDGAR. USD.
Emcor FY2024 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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