Emcor Group, Inc. · NYSE:EME

Emcor — Q4 2011 Earnings Presentation

16 slides from Emcor's earnings presentation, Feb 23, 2012

  1. Slide 1: Quarter Four 2011

    QUARTER FOUR 2011 Quarter Four 2011 February 23, 2012

  2. Slide 2: EMCOR Participants

    QUARTER FOUR 2011 EMCOR Participants  Tony Guzzi President & Chief Executive Officer  Mark Pompa EVP & Chief Financial Officer  Mava Heffler VP, Marketing & Communications  Kevin Matz EVP, Shared Services 2

  3. Slide 3: 2011 Executive Summary

    QUARTER FOUR 2011 2011 Executive Summary  Steady overall performance in difficult environment – Operating environment continues to improve slowly – Full year diluted EPS from continuing operations $1.78 / proforma diluted EPS $1.87 (excluding non-cash impairment charges and USM transaction costs) –

  4. Slide 4: 2011 Executive Summary

    QUARTER FOUR 2011 2011 Executive Summary  Diversified our portfolio with acquisitions of Bahnson and USM – USM cost synergies progressing / revitalizing business development process  Diverse backlog of $3.33 billion, 7.1% above 2010 level – Full year industrial backlog up 31%  Balance sheet conti

  5. Slide 5: 2011 – Qtr. 4 Financial Results Highlights

    QUARTER FOUR 2011 2011 – Qtr. 4 Financial Results Highlights  Revenues increased 16.7% to $1.52 billion – Organic growth 7.3% – Growth in all segments, except in U.S. electrical – EFS up 38.3% reflective of both organic (19.5%) and acquisition growth  SG&A increased $18.8 million to $148.0 million

  6. Slide 6: 2011 – Qtr. 4 Financial Results Highlights

    QUARTER FOUR 2011 2011 – Qtr. 4 Financial Results Highlights  Operating income $62.4 million or 4.1% of revenues – 4.4% excluding non-cash impairment charge  Qtr. 4 income tax rate – 38.5%  Diluted EPS from continuing operations of $0.53 vs. $0.61 – Adjusted for non-cash impairment charge; Qtr. 4

  7. Slide 7: Key Financial Data – Income Statement

    QUARTER FOUR 2011 Key Financial Data – Income Statement ($ Thousands, except per share information) (Unaudited) For the Three Months Ended December 31, Variance 2011 2010 $ % Revenues $ 1,517,962 $ 1,300,735 $ 217,227 16.7% Gross Profit 214,317 201,476 12,841 6.4% Selling, General and Administrative

  8. Slide 8: 2011 Financial Results Highlights

    QUARTER FOUR 2011 2011 Financial Results Highlights  Revenues up $761.5 million or 15.7% to $5.61 billion – Growth in all segments, except U.S. electrical – Organic growth 7.3% – EFS up 33% to $2.0 billion reflective of both organic growth (18.5%) and acquisition contributions  SG&A expenses incre

  9. Slide 9: 2011 Financial Results Highlights

    QUARTER FOUR 2011 2011 Financial Results Highlights  Income from discontinued operation, net of income taxes $9.1 million – Majority of gain due to the elimination of the cumulative foreign currency translation balance  Full year diluted EPS from continuing operations of $1.78 vs. $(1.30) – Exclud

  10. Slide 10: Key Financial Data – Income Statement

    QUARTER FOUR 2011 Key Financial Data – Income Statement ($ Thousands, except per share information) (Unaudited) For the Twelve Months Ended December 31, Variance 2011 2010 $ % Revenues $ 5,613,459 $ 4,851,953 $ 761,506 15.7% Gross Profit 733,949 693,523 40,426 5.8% Selling, General and Administrativ

  11. Slide 11: Key Financial Data – Balance Sheet

    QUARTER FOUR 2011 Key Financial Data – Balance Sheet ($ Thousands) (Unaudited) 12/31/11 12/31/10 Cash $ 511,322 $ 710,836 Working Capital $ 605,740 $ 747,468 Goodwill $ 566,805 $ 406,804 Identifiable Intangible Assets, Net $ 370,373 $ 245,089 Total Debt $ 154,857 $ 151,673 Equity $ 1,245,131 $ 1,162

  12. Slide 12: Backlog

    QUARTER FOUR 2011 Backlog ($ Millions) $5,000 $4,240 $4,000 $3,742 $3,340 $3,328 $2,974 $3,106 $3,000 $2,659 $2,692 $2,000 $1,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 Commercial Commercial Hospitality / Gaming Hospitality Industrial Healthcare Industrial Institutional Transportation Healthcare

  13. Slide 13: 2012 Outlook

    QUARTER FOUR 2011 2012 Outlook  Private non-residential market has measured improvement, but still not broad-based  Expect continued excellence in large project execution  Replacement volumes returning  Industrial markets better over last 14 months – Continue to build diverse / strong position 

  14. Slide 14: 2012 Outlook

    QUARTER FOUR 2011 2012 Outlook  USM cost synergies on track / currently revitalizing business development process  Cost control will allow leverage as growth returns  Strong and liquid balance sheet 14

  15. Slide 15: 2012 Guidance

    QUARTER FOUR 2011 2012 Guidance Revenues ~ 6 Billion Diluted EPS $1.65 - $1.95 15

  16. Slide 16: BUILD. POWER. SERVICE. PROTECT.

    BUILD. POWER. SERVICE. PROTECT.

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