Emcor Group, Inc. · NYSE:EME
Emcor — Q2 2022 Earnings Presentation
17 slides from Emcor's earnings presentation, Jul 28, 2022
Slide 1: Quarter Two 2022 Financial Results
QUARTER TWO 2022 FINANCIAL RESULTS JULY 28, 2022
Slide 2: Forward-Looking Statements and Non-GAAP Financial Disclosures
SECOND 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 assum
Slide 3: EMCOR Participants
SECOND 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. 2 Executive Summary
SECOND QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 2 EXECUTIVE SUMMARY ▪ Strong Qtr. 2 Performance ̶ Total revenues of $2.71 billion / Solid operating margin at 5.1% 2022 2021 $Δ – Operating Income $137.6M $133.4M $4.3M ➢ OI as a % of Revenue 5.1% 5.5% – Diluted EPS $1.99 $1.78 $0.21 ▪ Operating condit
Slide 5: 2022 Qtr. 2 Executive Summary
SECOND QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 2 EXECUTIVE SUMMARY » U.S. Electrical Construction and Facilities Services segment revenues increased by $72.0 million vs. Qtr. 2 2021 with an operating margin of 6.2% » U.S. Mechanical Construction and Facilities Services segment revenues increased by
Slide 6: 2022 Qtr. 2 Executive Summary
SECOND QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 2 EXECUTIVE SUMMARY » RPOs total $6.46 billion, up 26.5% compared to 6/30/21 Jun. 2022 ▪ U.S. RPOs UP $1.35 billion or 27.2% vs. Jun. 2021 $1,015M ‒ Combined U.S. Construction Segments UP 24.8% ‒ U.S. Building Services Segment UP $328M 44.1% ‒ U.S. Ind
Slide 7: 2022 Qtr. 2 Financial Results Highlights
SECOND QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 2 FINANCIAL RESULTS HIGHLIGHTS » Consolidated quarterly revenues of $2.71 billion Change from Qtr. 2 2021 Qtr. 2 ($ Millions) (Unaudited) 2022 $ % U.S. Electrical Construction & Facilities Services $ 564.1 $ 72.0 14.6% U.S. Mechanical Construction & Fa
Slide 8: 2022 Qtr. 2 Financial Results Highlights
SECOND QUARTER 2022 FINANCIAL RESULTS 2022 QTR. 2 FINANCIAL RESULTS HIGHLIGHTS » SG&A expenses of $245.4 million or 9.1% of revenues vs. $242.9 million or 10.0% of revenues for Qtr. 2 2021 » Operating income of $137.6 million or 5.1% of revenues Operating Margin For the Quarter Ended Operating Incom
Slide 9: Key Financial Data – Income Statement
SECOND QUARTER 2022 FINANCIAL RESULTS KEY FINANCIAL DATA – INCOME STATEMENT ($ Thousands, except per share information) (Unaudited) For the Quarter Ended June 30, Variance 2022 2021 $ % Revenues $ 2,707,388 $ 2,437,666 $ 269,722 11.1% Gross Profit 383,008 376,279 6,729 1.8% 14.1% 15.4% Selling, Gene
Slide 10: Key Financial Data – Income Statement
SECOND QUARTER 2022 FINANCIAL RESULTS KEY FINANCIAL DATA – INCOME STATEMENT ($ Thousands, except per share information) (Unaudited) For the Six Months Ended June 30, Variance 2022 2021 $ % Revenues $ 5,299,937 $ 4,741,715 $ 558,222 11.8% Gross Profit 735,563 717,352 18,211 2.5% 13.9% 15.1% Selling,
Slide 11: Key Financial Data – Balance Sheet
SECOND QUARTER 2022 FINANCIAL RESULTS KEY FINANCIAL DATA – BALANCE SHEET ($ Thousands) (Unaudited) 06/30/22 12/31/21 Cash $ 262,370 $ 821,345 Working Capital $ 722,605 $ 1,029,263 Goodwill $ 901,208 $ 890,268 Identifiable Intangible Assets, Net $ 577,284 $ 589,365 Total Debt (excludes operating leas
Slide 12: Remaining Performance Obligations
SECOND QUARTER 2022 FINANCIAL RESULTS REMAINING PERFORMANCE OBLIGATIONS » Diverse RPOs of $6.46 billion By Segment ($ Millions) (Unaudited) By Market Sector ($ Millions) (Unaudited) $7,000 $7,000 $7,000 $6,461 $6,461 $6,000 $6,000 $6,000 $5,599 $5,599 $5,107 $5,107 $5,000 $5,000 $5,000 $4,000 $4,000
Slide 13: Growth Opportunities
SECOND QUARTER 2022 FINANCIAL RESULTS GROWTH OPPORTUNITIES Well-positioned in growing non-residential markets / trades Data Centers / » Strong Electrical / Mechanical / Fire Protection demand across numerous geographic regions; RPOs continue to Semiconductor Fabs grow » Growing Electrical / Mechanic
Slide 14: 2022 - Outlook for Remainder of Year
SECOND QUARTER 2022 FINANCIAL RESULTS 2022 - OUTLOOK FOR REMAINDER OF YEAR » First and continuing priority – focus on employee health and safety » Non-residential market is projected to continue to grow in 2022 » Strong HVAC repair service work driven by lack of new equipment availability and summer
Slide 15: Guidance Assumptions Update
SECOND QUARTER 2022 FINANCIAL RESULTS GUIDANCE ASSUMPTIONS UPDATE Lingering COVID, inflation, and supply chain disruptions continue to contribute to a challenging 2022 operating environment Original 2022 Assumptions Qtr. 2 2022 Update ▪ Non-res. market projected to grow ▪ Up mid-single digits ▪ Heal
Slide 16: 2022 Guidance
SECOND QUARTER 2022 FINANCIAL RESULTS 2022 GUIDANCE » Assuming the impact of the COVID-19 pandemic and supply chain disruptions do not worsen Revenues ~$10.8 Billion Diluted EPS* $7.30 - $7.80 * Assumes 27.0% - 28.0% effective tax rate 16
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