This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

EMCOR Group, Inc. Reports First Quarter 2012 Results

Stocks in this article: EME

EMCOR Group, Inc. (NYSE: EME) today reported results for the first quarter ended March 31, 2012.

As previously announced, the Company completed the sale of its Canadian subsidiary, Comstock Canada, in August 2011. Accordingly, Comstock’s results for the 2011 first quarter have been classified as discontinued operations.

For the first quarter of 2012, net income from continuing operations attributable to EMCOR increased 10.4% to $27.1 million, or $0.40 per diluted share, from $24.6 million, or $0.35 per diluted share, in the first quarter of 2011. Revenues increased 21.6% to $1.54 billion in the first quarter of 2012, compared to revenues of $1.27 billion in the year ago period. Organic revenue growth in the quarter, compared to the first quarter of 2011, was 11.1%.

For the first quarter of 2012, operating income was $46.2 million, or 3.0% of revenues. Operating income for the first quarter of 2011 was $41.8 million, or 3.3% of revenues, including restructuring expenses of $1.0 million. Selling, general and administrative expenses were $134.5 million, or 8.7% of revenues, in the first quarter of 2012, compared to $113.9 million, or 9.0% of revenues, in the first quarter of 2011.

Backlog as of March 31, 2012 was $3.39 billion, an increase of 2.9% over backlog of $3.29 billion a year ago, excluding Comstock Canada. This increase reflects growth in the commercial, institutional and industrial sectors, which offset declines in the healthcare, hospitality/gaming, water/wastewater and transportation sectors. Commercial backlog increased $521 million or 95.6% to $1.07 billion, with organic growth contributing approximately $257 million, or approximately 47% of the increase. Backlog at the Company’s USM business has increased 13.9% since its acquisition on June 30, 2011. On an organic basis, total backlog was down 6.1%, or $200 million, from March 31, 2011. Backlog increased 1.8% from $3.33 billion on December 31, 2011.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs