Emcor Group, Inc. · NYSE:EME
Emcor — Q1 2022 Earnings Presentation
16 slides from Emcor's earnings presentation, Apr 28, 2022
Slide 1: Quarter One 2022 Financial Results
QUARTER ONE 2022 FINANCIAL RESULTS APRIL 28, 2022
Slide 2: Forward-Looking Statements and Non-GAAP Financial Disclosures
FIRST QUARTER 2022 FINANCIAL RESULTS FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL DISCLOSURES Forward-Looking Statements This material and related presentation contain certain forward-looking statements. Such statements speak only as of the date on the cover of this slide deck, and EMCOR assume
Slide 3: EMCOR Participants
FIRST QUARTER 2022 FINANCIAL RESULTS EMCOR PARTICIPANTS » Tony Guzzi Chairman, President & Chief Executive Officer » Mark Pompa EVP & Chief Financial Officer » Maxine Mauricio EVP & General Counsel » Kevin Matz EVP, Shared Services 3
Slide 4: 2022 Qtr. 1 Executive Summary
FIRST QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 1 EXECUTIVE SUMMARY ▪ Challenging Qtr. 1 Operating Environment ̶ Omicron and worsening supply chain disruptions contributed to a difficult Qtr. 1 operating environment ̶ Total revenues of $2.59 billion 2022 2021 $Δ – Operating Income $100.0M $117.0M $(1
Slide 5: 2022 Qtr. 1 Executive Summary
FIRST QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 1 EXECUTIVE SUMMARY » U.S. Electrical Construction and Facilities Services segment revenues increased by $62.6 million vs. Qtr. 1 2021 with an operating margin of 3.8% » U.S. Mechanical Construction and Facilities Services segment revenues increased by
Slide 6: 2022 Qtr. 1 Executive Summary
FIRST QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 1 EXECUTIVE SUMMARY » RPOs total $5.95 billion, up 24.7% compared to 3/31/21 Mar. 2022 ▪ U.S. RPOs UP $1.17 billion or 25.2% vs. Mar. 2021 $865M ‒ Combined U.S. Construction Segments UP 22.7% ‒ U.S. Building Services Segment UP $306M 44.5% ‒ U.S. Indust
Slide 7: 2022 Qtr. 1 Financial Results Highlights
FIRST QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 1 FINANCIAL RESULTS HIGHLIGHTS » Consolidated quarterly revenues of $2.59 billion Change from Qtr. 1 2021 Qtr. 1 ($ Millions) (Unaudited) 2022 $ % U.S. Electrical Construction & Facilities Services $ 522.0 $ 62.6 13.6% U.S. Mechanical Construction & Fac
Slide 8: 2022 Qtr. 1 Financial Results Highlights
FIRST QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 1 FINANCIAL RESULTS HIGHLIGHTS » SG&A expenses of $252.6 million or 9.7% of revenues vs. $224.1 million or 9.7% of revenues for Qtr. 1 2021 » Operating income of $100.0 million or 3.9% of revenues Operating Margin For the Quarter Ended Operating Income
Slide 9: Key Financial Data – Income Statement
FIRST QUARTER 2022 FINANCIAL RESULTS KEY FINANCIAL DATA – INCOME STATEMENT ($ Thousands, except per share information) (Unaudited) For the Quarter Ended March 31, Variance 2022 2021 $ % Revenues $ 2,592,549 $ 2,304,049 $ 288,500 12.5% Gross Profit 352,555 341,073 11,482 3.4% 13.6% 14.8% Selling, Gen
Slide 10: Key Financial Data – Balance Sheet
FIRST QUARTER 2022 FINANCIAL RESULTS KEY FINANCIAL DATA – BALANCE SHEET ($ Thousands) (Unaudited) 03/31/22 12/31/21 Cash $ 514,513 $ 821,345 Working Capital $ 919,835 $ 1,029,263 Goodwill $ 891,536 $ 890,268 Identifiable Intangible Assets, Net $ 574,614 $ 589,365 Total Debt (excludes operating lease
Slide 11: Remaining Performance Obligations
FIRST QUARTER 2022 FINANCIAL RESULTS REMAINING PERFORMANCE OBLIGATIONS » Diverse RPOs of $5.95 billion By Segment ($ Millions) (Unaudited) By Market Sector ($ Millions) (Unaudited) $5,953 $5,953 $6,000 $6,000 $6,000 $6,000 $5,599 $5,599 $4,775 $4,775 $5,000 $5,000 $5,000 $5,000 $4,000 $4,000 $4,000
Slide 12: Growth Opportunities
FIRST QUARTER 2022 FINANCIAL RESULTS GROWTH OPPORTUNITIES Well-positioned in growing non-residential markets / trades Data Centers » Strong Electrical / Mechanical / Fire Protection demand across Mid-Atlantic, Pacific Northwest, Midwest and Southeast; data center RPOs continue to grow Warehouses / »
Slide 13: 2022 Outlook
FIRST QUARTER 2022 FINANCIAL RESULTS 2022 OUTLOOK » First and continuing priority – focus on employee health and safety » Non-residential market is projected to grow in 2022 » Energy efficiency upgrades driving HVAC replacement projects » Oil & gas markets have improved to date » U.K. strong and sta
Slide 14: Guidance Assumptions Update
FIRST QUARTER 2022 FINANCIAL RESULTS GUIDANCE ASSUMPTIONS UPDATE Omicron and supply chain disruptions contributed to a difficult Qtr. 1 operating environment Original 2022 Assumptions Qtr. 1 2022 Update ▪ Non-res. market projected to grow ▪ Up mid-single digits ▪ Healthy organic revenue growth ▪ 10.
Slide 15: 2022 Guidance
FIRST QUARTER 2022 FINANCIAL RESULTS 2022 GUIDANCE » Assuming the impact of the COVID-19 pandemic and supply chain disruptions do not worsen Revenues $10.40 - $10.70 Billion Diluted EPS* $7.15 - $7.85 * Assumes 27.0% - 28.0% effective tax rate 15
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